ewaction

ewaction

$XAUUSD is reaching the strong upside resistance 2000-2040 zone which is on a test again as it was previously rejected. Expect hard trading around this levels and a possible pullback again as the wedge has been formed

07:31

ewaction

An overview for 08.03.2023. futures market analyzed $SPX $DJIA $NASDAQ

ewaction

$VIX is preparing lining up for a huge fear volatility spike. A break above the 28 level will lead to extreme upside acceleration

ewaction

Just when it reached the high again, $FTSE violently reversed the upside and is breaking below the rising wedge and all the downsie resistances established lately. From here I am not seeing any breaks till 7400

ewaction

$NASDAQ is extending lower and is on a way to test 14200 which is 50% retarcement of the latest swing higher. An eventual break below this level will accelerate decline. Look lower as long as it is below14500

ewaction

$AUDUSD is pulling back after the rejection from 0.7700. On a weekly chart a sharp downside Pitchfork channel has been formed and a break below .7400 will confirm that this is a false upside break. The false upside break will lead to a downside channel continuation. Bounce here is required for this support to hold and to carry the pair higher.

ewaction

$BTCUSD complex structure is calling for more weakness towards 28-30000 zone as long as the instrument is not able to break above 49000. We can see constant ongoing rejection from this level as the #Bitcoin is in the long-term triangle and downside channel. There is so called bullish mantra that Bitcoin is digital gold which is so far from the truth. Bitcoin is...

ewaction

$DAX is testing 14000. A break below 14000 is needed for the downside reversal of the recent short-term upside trend and a continuation of the downtrend that has been triggered by a rejection from 16500. This would be the beginning of the second impulsive downside wave which should be the most violent and would lead to a break below the recent low.

ewaction

75-76 zone is a perfect one to join a bull extension party. Also an excellent low risk long trade entry. From this point an extension higher to 100 is extremely possible.

ewaction

$DAX is reaching the peak of two Pitchfork channels 16000 and is being rejected by it. This is the opportunity for a short trade entry wit the stop loss above 16000

ewaction

$USDJPY is pulling back after the break below the uptrend line and could test 108. We need to see a reversal from here to avoid this and a break above 110 again.

ewaction

$HG_F #Copper is still within an uptrend supported by an uptrend line 4.0900 and this is a key level for the reversal pullback lower or continuation upside. There is also a reversal H&S potential and we need to see a significant break above 4.33000 to invalidate it

ewaction

$EURUSD is testing the strong support confluence of the consolidation wedge and channel support 1.18300. Bounce from here is required for the upside reversal.

ewaction

$DXY is testing the strong horizontal resistance 93 coupled with the falling trend line. Enough to spark a lot of volatility here because downside will pressure. Range play between 89 and 93 is expected to continue here so be careful with #USD long

ewaction

$NASDAQ is moving inside the bullish wedge and bz recently breaking above the ascending triangle 14100 is opening the road to 15000-15500 zone

ewaction

$BTC.X has found support at the known support trend line 30000 for the second time and this can produce another range swing upside #Bitcoin and a test of 365000.

ewaction

$DXY 5waves down is still a great possibility #EURUSD 91 then 88 then 85-86

ewaction

$EURUSD although below the 1.2200 is still firmly supported for the upside extension. Support zone spans from 1.2050-1.2100 and it is questionable whether the FOMC meeting will spark any volatility and direction or we will see further ongoing consolidation the whole week.