Forex Market Overview on Instruments: , , , , , The S’P 500, USD Index, , , , Brent Oil, .
EUR/USD – The previous week on Tuesday fully worked out the “Double Top” which formed at the end of the upward trend on D1, reaching the second target of 1.10045. Then, after the second take was worked out, a correction followed, which ended at 1.10520. And, as the main trend is downward on D1, at the end of the correction we expect an update of the nearest support level of 1.10070 and after the resumption of movement on the downgrade to the target level of 1.09545.
USD/CAD – Over the past two weeks, when hiking on a hike parallel to the upward trend formed a “reverse trend” that initially showed its main downward trend. And, since the previous week “Reverse Trend” we did not break and on the last trading day broke the trend support line, thereby changing the upward trend to downward, then in the coming week we expect the formation of a new downward trend and a global downward trend as a development of the “Reverse Trend” to the two target levels of 1.31815 and 1.31415.
XAU/USD – The previous Monday worked out the triangle uncertainty figure, reaching the first target of 1459.00. And, as is customary everywhere, having achieved any goal we had to adjust to the nearest resistance level of 1473.00. And, since the MN formed the “Double Top”, on D1 we have to wait for the completion of the correction, and after the coming week to start their campaign on the downgrade as a work of “Double Top” on MN to two target levels of 1435.70 and 1422.00.
Respectfully, Maxim Lushnikov!
OCULUS – Group: Trading Academy
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