MarketBreakdown | WTI OIL, GOLD (XAUUSD), USDJPY, EURAUD

5 ott 2021

Hey traders,
here is a brief technical outlook of 4 peculiar instruments in my watch list.

1️⃣ WTI Crude Oil - 3 days time frame 🛢️

Very surprisingly WTI broke the year's high yesterday.
It looks like buyers are willing to push much higher.

The next historical highs to watch:
85.0
90.0

For buying, I would wait for a pullback first.

2️⃣ Gold (XAUUSD) - Daily time frame 🥇

Gold broke and closed above a resistance line of a falling wedge pattern.
This morning we see its retest.
Chances are high to see a bullish reaction soon.

Closest resistance - 1780

3️⃣USDJPY - 3 days time frame 🇺🇸🇯🇵

Yen dropped to a major supply zone.
110.45 - 110.8 is the area to look for buying opportunities.
Taking into consideration that the pair is trading in a bullish trend,
probabilities are on the bulls' side for now.


4️⃣EURAUD - 3 days time frame 🇪🇺🇦🇺

The market is trading in a bullish trend.
Reaching 1.643 structure high, the pair is retracing.
Ahead is a major confluence zone:
we see a perfect match between a major rising trend line and horizontal structure support.

From that confluence point, a bullish move will be expected.

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