MarketBreakdown | Dollar Index, GBPAUD, Monero, CHFJPY

23 mai 2022

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

1️⃣ Dollar Index (DXY) - Daily time frame 💵

For the last two trading weeks, we saw a correctional move on dollar index.
Ahead is solid horizontal structure support based on the last higher low.

Taking into consideration that the market is trading in a bullish trend,
from that structure, we may see a strong bullish reaction.

Alternatively, its bearish breakout may trigger a further decline to lower structures.

2️⃣ GBPAUD - Daily time frame 🇬🇧🇦🇺

The market is trading in a horizontal trading range.
More than a week ago we shorted the pair from resistance with my students.
Then the market started to consolidate and for many days the price is coiling.

Bias remains bearish and a bearish continuation is still expected.

3️⃣ Monero (XMRUSD) - Daily time frame

XMRUSD is growing nicely for the last two weeks.
Ahead is a strong resistance cluster.
Be prepared for a bearish move from that.

4️⃣ CHFJPY - Daily time frame 🇨🇭🇯🇵

The pair broke solid daily structure support two weeks ago and dropped heavily.
Now the price is retesting a broken key level.
On that, a cute dodji candle was formed.

I assume that the market may drop from that structure.
I am currently waiting for a confirmation to open short.

❤️If you have any questions, please, ask me in the comment section.
Please, support my work with like, thank you!❤️

24 mai 2022

Note

Check my new idea on AUDUSD: