Technical Analysis – Weekly Market Outlook 6 – 10 July 2020

CFD: S&P 500 Index

Completing it cycle on weekly TF?
We are looking price towards upper line Momentum bullish trend is in control.

Cryptocurrency: BTCUSD – BITCOIN

Key level support $9k holding strong and price rebound again on range trading Targeting price to move towards $10k again.

CFD: WTI – US Oil

Bullish trend and momentum is still looking strong with most countries resume economics activity.
We are targeting price to move inside uptrend channel and towards around $45 Next resistance on upper line.

CFD: DXY – US Dollar Index

Looking at range trading and yet mapping the movement price on downtrend channel.
Targeting price towards lower line and currently will retest on the median level

CFD: XAUUSD – SPOT GOLD

Very strong bullish trend and price had several retest on key level $1,760 below seem downside is limited.
We are still looking at breakthrough above $1,800 price level.

Price currently on uptrend channel and expecting to move towards median – upper line resistance level.

FOREX: EURUSD

Correlates between US Dollar Index DXY and EURO seems both on range trading.
Expect nothing much on any rally movement but target price moving towards uptrend channel.
Targeting to reach upper line by end of the trading week

FOREX: GBPUSD

Same compare to most major pairs as market still in range trading but looking at strong uptrend towards upper line after breakout on median line and will retest on this level.
However upper line is our price target to reach next resistance level

FOREX: AUDUSD

Tight range on moving towards uptrend and price is still looking strong on inside uptrend pitchfork channel.
Targeting next resistance on upper line else price moving inside between median & lower line channel.

FOREX: USDJPY

Price made reversal on fibo 1.618 resistance and return inside pitchfork channel.
We are looking price to retest on median support before breaking below towards lower line support Highly probabilities market is still on range trading.

FOREX: USDCAD

OIL prices lead to stronger Loonie and we have high impact news on Friday.
Trend is looking at downtrend channel and we are targeting price to break below median and towards lower line key level support.