Here is a brief technical outlook for 4 instruments in my watch list.
1️⃣ GBPUSD 🇬🇧🇺🇸 The pair broke and closed above a major falling trend line last week. Now the pair is quite weak and looks overbought.
For those, who want to buy, I would suggest to wait for a retest of a trend line. Probabilities will be high that the next bullish move will initiate from there.
2️⃣ USDCHF 🇨🇭🇺🇸 USDCHF recently broke and closed below a major rising trend line. The pair is growing steadily and it looks like that soon we will see its retest. I believe that the pair may drop from that. Pay close attention to the broken trend line.
3️⃣ US100 (NASDAQ) Index 📈 I see a local consolidation on Nasdaq. The index is stuck between 2 solid horizontal structures. To catch the next wave, wait for a breakout of one of the boundaries of the underlined range. Its bullish breakout will trigger a bullish continuation, while its bearish violation will push the index lower.
4️⃣ BITCOIN (BTCUSD) ₿ Bitcoin looks very bullish to me. The price set a new local higher high last week, confirming its strength. I would expect a bullish continuation. Consider the underlined supports for potential buying after a pullback.
Do you agree with my market breakdown?
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