MarketBreakdown | GOLD, EURCAD, Dollar Index, EURCHF

Nov 23, 2021

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

1️⃣ USDCAD - Weekly time frame 🇺🇸🇨🇦

For the entire month, the pair is very bullish.
Ahead is a major falling weekly trend line.
I will expect a pullback from that.

Let the price reach that trend line, then look for a confirmation to short.

2️⃣ NZDUSD - Weekly time frame 🇳🇿🇺🇸

Similar to USDCAD, NZDUSD is very close to a major rising trend line.
Taking into consideration that the pair looks quite oversold, I will expect a pullback from that.

3️⃣ USDCHF - Monthly time frame 🇺🇸🇨🇭

The market is trading in a global bearish trend.
Recently the price reached a major monthly trend line linking the last lower highs.
It is a very important decision moment for the pair:
in case of its bullish breakout, a strong bullish wave will be expected.

In case of a formation of a reversal pattern on lower time frames,
a bearish rally will most likely initiate.

4️⃣ GBPCAD - Monthly time frame 🇬🇧 🇨🇦

The pair looks very bearish to me.
After a confirmed bearish breakout of a major rising trend line, we see its retest.
I believe that soon bears will start pushing the market.

❤️Please, support this idea with a like and comment!❤️

Nov 23, 2021

Note

Sorry
I made a mistake in the title of this idea

Nov 24, 2021

Note

Check my new idea on EURCHF: