MarketBreakdown | EURUSD, GOLD, GBPUSD, BITCOIN

٢٧ مايو ٢٠٢١

Hey traders,

While the market remains slow, here is a quick update for the majors:

1️⃣ EURUSD - Daily time frame

1.223 is a major key resistance that we are monitoring for quite a while.
This week we saw its false breakout both on daily/4h time frames.
Now the price is again trading below.

To spot the next swing move, keep following a rising wedge pattern.
Bearish breakout of its support (daily candle close below) will be a trigger to sell,
while its bullish violation will be a strong bullish clue.

2️⃣ GOLD - Weekly time frame

In comparison to USD majors, gold is unstoppable.
Bullish rally continues neglecting all historical levels.

The next solid structure to look at is a narrow area around 1960.
It looks like it is the next goal for buyers and a pullback will be expected for that.

For now, I would recommend staying away from buying and open long only after a solid pullback
because the market is heavily overbought.

3️⃣ GBPUSD - 3 days time frame

1.4235 os the years high and key structure resistance.
The price is stuck on that level for the last 3 trading days.

With multiple rejections, I still believe that a pullback is highly probable.

4️⃣ BITCOIN - 8H time frame

We can not deny the psychological and technical significance of 30.000$ level.
Being reached, it was a level from where I made my first purchase of btc this year.

With a bullish breakout of an intraday trend line, we got a solid confirmation and proof of a willingness of buyers to buy.
So now it's time to grow. Just be patient.

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٢٨ مايو ٢٠٢١

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