MarketBreakdown | USDCAD, GOLD, AUDUSD, EURCHF

Hey traders,
here is a brief technical outlook of 4 peculiar instruments to watch this week

1️⃣ USDCAD - Daily time frame 🇨🇦🇺🇸

The pair is very close to a broken neckline of a huge head and shoulders pattern.
1.26 - 1.265 is the zone from where I expect a bearish move.
Let the price reach that and then look for a confirmation within that area to sell.

2️⃣ Gold (XAUUSD) - 12H time frame 🥇

I am very bullish on Gold.
Last week the price violated a horizontal trading range to the upside.
Retesting its broken boundary the market shows a very positive reaction.
Bullish continuation to 1855 is expected.

3️⃣ AUDUSD - Daily time frame 🇦🇺🇺🇸

The price was steadily growing within a bullish flag pattern from the beginning of December.
Setting a lower high last week the price violated a flag's support to the downside.
It looks like the pair is preparing for a bearish move.

4️⃣ EURCHF - Daily time frame 🇪🇺🇨🇭

The pair is trading in a long-term bearish trend.
The price is approaching a current local structure low at the moment.
Be prepared for a bearish continuation.
In case of a violation of a current low, a bearish continuation will be expected.

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Commentaire:

Check my new analysis on LTCUSD: