MarketBreakdown | EURUSD, EURAUD, EURCHF, SILVER (XAGUSD)

19 בינו׳ 2023

Hey traders,

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

1️⃣ EURUSD 4h time frame🇪🇺🇺🇸
The pair is currently consolidating within a horizontal intraday range on 4H.
For now, I believe that the price will keep trading within that.
A bullish breakout of the range will be a strong bullish signal.
After a breakout, the market will most likely go much higher.

2️⃣ EURAUD daily time frame 🇪🇺🇦🇺
Buyers are finally pushing.
At the moment, we see a breakout attempt of a key daily horizontal resistance and a falling resistance of a bullish flag.
If the price closes above them both on a daily, a strong bullish continuation will be expected.

3️⃣ EURCHF daily time frame 🇪🇺🇨🇭
The market has nicely corrected this week.
Ahead, I see a major rising trend line on a daily.
Probabilities will be high that a strong bullish reaction will follow from that.

4️⃣ Silver (XAGUSD) daily time frame 🪙
Silver keeps coiling.
The pair is currently stuck within a wide horizontal range on a daily.
The next bullish wave will be expected only after a bullish breakout of its resistance.
Alternatively, a bearish breakout of its support will push the market much lower.

Do you agree with my market breakdown?

❤️If you have any questions, please, ask me in the comment section.
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