Forex market overview by instruments:,,,, S&P 500, USD index,,,,, Brent oil,.
EUR / USD – after working out the first daily target 1.09405 a couple of weeks ago, the previous week began with continued downward movement, and on Monday we saw the working out of the second daily goal 1.09120. But, EUR did not stop there, already in the middle of the week he broke through the monthly support level of 1.08975, giving a signal that the downward trend on MN will continue, which followed on the fourth day – EUR completed the first monthly target level of 1.08435. And, since there are no signals to change the downtrend, in the coming week a slight correction is expected to the level of 1.08975 and the continuation of the downward movement to the second monthly target level of 1.07200.
USD / CAD – after working out the target level 1.33060 a couple of weeks ago and changing the trend from downward to upward to D1, before the global upward movement, it should initially be adjusted to the level of 1.32310, which in the end he did. And now, as soon as the correction is completed, a reversal is expected and continued movement to increase to the target level 1.35145.
XAU / USD – unfortunately, in the previous week, it was not possible to create a graphic reversal pattern – “Head and Shoulders” and instead of it, in parallel with an upward trend, he began to form a “Reverse Trend”, which shows its main approach to decrease to target damage of 1549.00 . And, as soon as we work it out and break through the horizontal support level of 1546.00, the Divergence located on W1 will immediately begin to work out by going down to the three target levels of 1523.00, 1512.00 and 1496.00.
Sincerely, Maxim Lushnikov!
OCULUS – Group: Trading Academy
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