MarketBreakdown | EURUSD, AUDUSD, AUDNZD, CHFJPY

5 set 2023

https://www.tradingview.com/x/sFImcA1V/

Here are the updates & outlook for multiple instruments in my watchlist.

1️⃣ EURUSD daily time frame 🇪🇺🇺🇸
The market is currently trying to break a solid rising trend line.
Its breakout – a daily candle close below will be a strong bearish signal
and will most likely push the prices lower.

2️⃣ AUDUSD daily time frame 🇦🇺🇺🇸
AUDUSD is trading in a bearish trend.
Since the middle of August, the market is consolidating, though.
The price is stuck within a horizontal range on a daily.

The pair is currently approaching a support of the range.
Its bearish breakout will most likely trigger a trend-following movement.
A daily candle close below that will confirm a violation.

3️⃣ AUDNZD daily time frame 🇦🇺🇳🇿
AUDNZD formed a bearish flag pattern.
The price is currently approaching its lower boundary.
Its breakout will be a strong bearish signal.

4️⃣ CHFJPY daily time frame 🇨🇭🇯🇵
The pair is trading in a long-term bullish trend.
For the last 4 weeks, the market is consolidating within a horizontal range.

After the last test of its support, we see a positive bullish reaction to that.
The market will most likely keep growing to the resistance of the range now,
while its bullish breakout will trigger a new bullish wave.

Do you agree with my market breakdown?

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