MarketBreakdown | GBPUSD, USDJPY, NZDCAD, SILVER

Aug 13

https://www.tradingview.com/x/H8Itl3NG/

Here are the updates & outlook for multiple instruments in my watch list.

1️⃣ #GBPUSD daily time frame 🇬🇧🇺🇸

GBPUSD broke and closed above a resistance line of
a bullish flag pattern on a daily.

Because the pair is trading in a long-term bullish trend,
such a violation is a strong bullish signal and a clear sign of
strength of the buyers.

I think that the pair will continue growing.

2️⃣ #USDJPY weekly time frame 🇺🇸🇯🇵

The market is very close to a recently broken
major rising trend line that turned into a resistance after a breakout.

I suggest looking for a pullback trade from that because
a bearish reaction will most likely follow after its test.

3️⃣ #NZDCAD daily time frame 🇳🇿🇨🇦

The price formed an ascending triangle pattern on a daily.
We see a breakout attempt of its neckline at the moment.

A daily candle close above the underlined blue area will be a strong bullish confirmation.
A bullish continuation will be expected then.

4️⃣ Silver #XAGUSD daily time frame 🪙

Looks like Silver has completed a correctional movement
and returns to a global bullish trend.

A recent breakout of a key daily horizontal resistance confirms
a local dominance of the buyers.

Do you agree with my market breakdown?

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