MarketBreakdown | EURUSD, GBPUSD, USDCHF, GBPCHF
Updated
Hey traders,
here is a brief technical outlook of 4 peculiar instruments in my watch list.
1️⃣ EURUSD - Daily time frame 🇺🇸🇯🇵
After setting a new lower low lower close on a daily, EURUSD is retracing.
The price is approaching a strong structure resistance at the moment.
For now, I remain bearish biased and look for a confirmation to short from the underlined structure.
Its bullish breakout, however, may trigger a further bullish continuation.
2️⃣ GBPUSD - Daily time frame 🇬🇧 🇺🇸
The market is trading in a long-term bearish trend.
The price is stuck within a descending triangle formation.
Its support breakout will trigger a trend-following movement
while a bullish breakout of a trend line will lead to a correctional movement.
3️⃣ USDCHF - Daily time frame 🇨🇭🇺🇸
The pair set a new higher high higher close on a daily.
Now the market is approaching a broken resistance.
I believe that soon the pair will keep growing.
4️⃣ GBPCHF - Daily time frame 🇬🇧🇨🇭
The market is trading in a long-term bearish trend.
Recently the market retraced to a strong daily structure resistance.
From that, I am looking for a confirmation to short.
Chances are high to see a trend-following movement from that.
❤️If you have any questions, please, ask me in the comment section.
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Note
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