Technical Analysis – Weekly Market Outlook 20 – 24 July 2020

CFD: S&P 500 Index

Price retest and made twice reversal on upper line
Expecting movement towards median and key level support lower line

Cryptocurrency: BTCUSD – BITCOIN

Price strongly on range trade and look out on key level support lower line and upper line resistance level
We are still looking price to break above $10k

CFD: WTI – US Oil

Crude has been flat since June 8. The commodity has been trading horizontally since it fell on June 24, below the uptrend line since April 28.
We are targeting price to move towards lower line key level support, any break below indicates a change of trend

CFD: DXY – US Dollar Index

Price is heavily on bearish trend and targeting sell-off on US Dollar
expecting price move towards lower line and break key level support

CFD: XAUUSD – SPOT GOLD

Looking at price of gold towards $2k per ounce in the next 3-5 months and this week we are looking at price to break the key level resistance and towards upper line level

FOREX: EURUSD

Looking at US Dollar weakening trend and strong bearish movement
Targeting price for this week to head towards upper line resistance level

FOREX: GBPUSD

Current price is breaking below median and still hovering around this area
Expecting to move towards lower line support till end of week and rebounce at this key level

FOREX: AUDUSD

Targeting price to break lower line for a confirmation out-of-the box setup and we are looking price to retest previous key support level
A break on support lower line indicates opportunity price to head lower but however trend is still on range

FOREX: USDJPY

Range trading but we are looking at price to move towards median resistance to retest before head towards next resistance key level on upper line

FOREX: USDCAD

Price is inside channel pitchfork and targeting to move towards median resistance and retest before heading towards upper line resistance key level