Starting with the basics: price and horizontal levels. We mark zones where the market has historically reacted and check for confirmation this week. Scenarios are prepared for both breakouts and rebounds.
Key Topics
- Euro (EURUSD)
- British Pound (GBPUSD)
- Swiss Franc (USDCHF)
- Japanese Yen (USDJPY)
- Canadian Dollar (USDCAD)
- Australian Dollar (AUDUSD)
- New Zealand Dollar (NZDUSD)
- Bitcoin (BTC)
- Ethereum (ETH)
- Apple Inc (AAPL)
- NVIDIA Corp (NVDA)
- Tesla Inc (TSLA)
- Summary
Euro (EURUSD)
The bearish trend continues, a corrective wave is developing. A short entry point on a rebound may appear after it completes.
The last broken level is support (1.1645 — 1.1665). The breakout occurred 3 days ago.
If the downward movement resumes, the first target will be the support with boundaries at 1.1389 — 1.1404. If the market successfully consolidates below this support, it will open the way for the price to move towards target #2 — the support level with boundaries at 1.1369 — 1.1391.
If the correction ends near the last broken level (1.1645 — 1.1665), the potential reward/risk ratio could be around 2:1. Short positions may remain relevant as long as the price stays below the nearest resistance level with boundaries at 1.1733 — 1.1778.
EURUSD. Technical analysis. D1.
British Pound (GBPUSD)
The downtrend continues, a corrective wave is developing.
The last broken level is support (1.3321 — 1.3340). The breakout occurred 2 days ago.
A short entry point on a rebound may appear after the correction completes. The price is near the last broken level, where corrections often end if the trend continues in the same direction.
If the downward movement resumes, the first target will be the support level with boundaries at 1.3138 — 1.3205. In case of a successful trend development, the next target will be near the support level of 1.2708 — 1.2720.
Short positions may remain relevant as long as the market is below the nearest resistance level with boundaries at 1.3484 — 1.3490.
GBPUSD. Technical analysis. D1.
Swiss Franc (USDCHF)
The bullish trend continues, a corrective wave is developing. A long entry point on a rebound may
appear after it completes.
The last broken level is resistance (0.7980 — 0.8000). The breakout occurred 3 days ago.
The price is near the last broken level, where corrections often end if the trend continues in the same direction. If the upward movement resumes, the first target will be the resistance level with boundaries at 0.8053 — 0.8072.
In case of a successful trend development, the next target will be at the resistance level with boundaries at 0.8058 — 0.8076. Long positions may remain relevant as long as the market is above the nearest daily timeframe support level with boundaries at 0.7944 — 0.7946.
USDCHF. Technical analysis. D1.
Japanese Yen (USDJPY)
The trend changed to bullish when the resistance level (149.83 — 149.95) was broken last week.
A correction is forming on the daily timeframe. A short entry point on a rebound may appear after it completes.
If the upward movement resumes, the first target will be the resistance level with boundaries at 154.41 — 154.80. In case of a successful trend development, the next target will be near the next resistance with boundaries at 155.18 — 155.89.
Long positions will remain relevant as long as the market is above the nearest daily timeframe support level with boundaries at 146.57 — 147.05. A break of this level will signal a trend reversal.
USDJPY. Technical analysis. D1.
Canadian Dollar (USDCAD)
The bullish trend continues, a corrective wave is developing.
A long entry point on a rebound may appear after it completes. The last broken level is resistance (1.3966 — 1.3986).
The breakout occurred 2 days ago. The price is near the last broken level, where corrections often end if the trend continues in the same direction.
If the upward movement resumes, the first target will be the resistance level with boundaries at 1.4385 — 1.4415. In case of a successful trend development, the next target will be at the resistance level with boundaries at 1.4349 — 1.4402.
Long positions may remain relevant as long as the market is above the nearest daily timeframe support level with boundaries at 1.3930 — 1.3941.
USDCAD. Technical analysis. D1.
Australian Dollar (AUDUSD)
The bearish trend continues, another impulse move is developing. The last broken level is support (0.6575 — 0.6595).
The breakout occurred 2 days ago. A short entry point on a rebound may appear after a full correction forms.
An intermediate target for the downward movement is the support level with boundaries at 0.6370 — 0.6437. In case of successful trend development, the next target will be at the support level of 0.6407 — 0.6422.
Short positions will remain relevant as long as the price stays below the nearest resistance level with boundaries at 0.6598 — 0.6628. If this zone is broken, the medium-term trend will change to bullish.
AUDUSD. Technical analysis. D1.
New Zealand Dollar (NZDUSD)
The bearish trend continues, an impulse move is developing.
Last week, the price returned to the previously broken support level (0.5831 — 0.5845) and rebounded from it. Then, the support level (0.5752 — 0.5763) was broken.
The breakout occurred 2 days ago. A short entry point on a rebound may appear after a full correction forms.
An intermediate target for the downward movement is the support level with boundaries at 0.5485 — 0.5528. Short positions will remain relevant as long as the market stays below the resistance level with boundaries at 0.5842 — 0.5844.
If this zone is broken, the medium-term trend will change to bullish.
NZDUSD. Technical analysis. D1.
Bitcoin (BTC)
The bearish trend continues. An impulse wave is developing.
A short entry point on a rebound may appear after a correction forms. The first target for the downward movement is the support level with boundaries at 108624 — 109036.
In case of a successful trend development, the next target will be at the support level with boundaries at 107250 — 108248. Short positions will remain relevant as long as the market is below the nearest resistance level with boundaries at 123343 — 124254.
BTC. Technical analysis. D1.
Ethereum (ETH)
The bearish trend continues. The last broken level is support (4411 — 4450). The breakout occurred 4 days ago.
An impulse wave is developing. A short entry point on a rebound may appear after a correction forms.
The first target for the downward movement is the support level with boundaries at 3546 — 3612. In case of a successful trend development, the next target will be in the 3492 — 3497 area.
Short positions will remain relevant as long as the market stays below the nearest resistance level with boundaries at 4686 — 4759.
ETH. Technical analysis. D1.
Apple Inc (AAPL)
The trend changed to bearish when the support level (253.11 — 254.63) was broken last week. An impulse wave is developing.
A short entry point on a rebound may appear after a correction forms. An intermediate target for the downward movement is the support level with boundaries at 225.95 — 226.79.
If the market successfully consolidates below this support, it will open the way for the price to move towards target #2 — the support level with boundaries at 223.78 — 224.90. Short positions will remain relevant as long as the market stays below the nearest daily timeframe resistance level with boundaries at 258.02 — 259.24.
A break of this level will signal a trend reversal.
AAPL. Technical analysis. D1.
NVIDIA Corp (NVDA)
The uptrend continues, a corrective wave is developing. The last broken level is resistance (189.60 — 191.05).
The breakout occurred 2 days ago. A long entry point on a rebound may appear after it completes.
If the upward movement resumes, the first target could be the resistance level with boundaries at 193.51 — 195.62. Long positions will remain relevant as long as the market is above the nearest daily timeframe support level with boundaries at 173.13 — 174.48.
In case of a convincing breakout of this price zone, the medium-term trend will change to bearish.
NVDA. Technical analysis. D1.
Tesla Inc (TSLA)
The trend changed to bearish when the support level (425.23 — 431.81) was broken last week. An impulse wave is developing.
A short entry point on a rebound may appear after a correction forms. An intermediate target for the downward movement is the support level with boundaries at 402.43 — 410.04.
If the market successfully consolidates below this support, it will open the way for the price to move towards target #2 — the support level with boundaries at 370.24 — 370.94. Short positions will remain relevant as long as the market stays below the nearest resistance level with boundaries at 453.25 — 453.55.
A convincing breakout of this level will signal a reversal of the medium-term trend.
TSLA. Technical analysis. D1.
Summary
In the medium term, EURUSD, GBPUSD, USDCHF, USDCAD stand out with corrections on the daily timeframe that are close to completion. The other assets may be worthy of attention depending on the depth of the market correction.