Reviewing the most important levels for key financial instruments and likely scenarios for developments.
Key Topics
- Euro (EURUSD)
- British Pound (GBPUSD)
- Swiss Franc (USDCHF)
- Canadian Dollar (USDCAD)
- Australian Dollar (AUDUSD)
- Bitcoin (BTC)
- Ether (ETH)
- Apple Inc (AAPL)
- NVIDIA Corp (NVDA)
- Tesla Inc (TSLA)
- Summary
Euro (EURUSD)
Bullish trend continues, a corrective wave is developing. An entry point for buying on rebound may form after the current correction completes. The last broken level is resistance (1.1816 — 1.1838). The breakout occurred 10 candlesticks ago.
Intermediate target for the upward movement is the resistance level with boundaries 1.2023 — 1.2081.
If the correction completes near the support level (1.1766 — 1.1777), the potential profit/risk ratio may be approximately 3.4:1.
Long positions will remain relevant, as long as the market is above the nearest support level with boundaries 1.1766 — 1.1777. If the market successfully settles below this support, the trend will reverse to the opposite (bearish).
EURUSD. Technical analysis. D1.
British Pound (GBPUSD)
Bearish trend continues, a corrective wave is developing. An entry point for selling on rebound may form after the current correction completes. The last broken level is support (1.3591 — 1.3619). The breakout occurred 4 candlesticks ago.
Intermediate target for the downward movement is the support level with boundaries 1.3333 — 1.3372. In case of successful trend development, a farther target will be at the support level with boundaries 1.3180 — 1.3209.
Potential profit/risk ratio from current prices when setting targets and fixing risks based on daily timeframe levels may be small (approximately 0.4:1). When using a farther target — around 1:1. If the correction completes near the resistance level (1.3653 — 1.3662), the potential profit/risk ratio may be approximately 2.7:1. When selecting a farther target — around 4.2:1. If the correction completes near the last broken level (1.3591 — 1.3619), the potential profit/risk ratio may be around 1.5:1. For a farther target — approximately 2.5:1.
Short positions will remain relevant, as long as the market remains below the nearest resistance level with boundaries 1.3653 — 1.3662. If the market successfully settles above this nearest resistance, the trend will reverse to the opposite (bullish).
GBPUSD. Technical analysis. D1.
Swiss Franc (USDCHF)
Trend has turned bullish when the resistance level (0.7717 — 0.7730) was broken. The breakout occurred 3 candlesticks ago. An impulse wave is developing.
Intermediate target for the upward movement is the resistance level with boundaries 0.7784 — 0.7787. In case of successful trend development, a farther target will be at the resistance level with boundaries 0.8033 — 0.8040.
Potential profit/risk ratio from current prices when setting targets and fixing risks based on daily timeframe levels may be small (around 0.2:1). When using a farther target — approximately 1.8:1. If the new correction completes near the support level (0.7665 — 0.7677), the potential profit/risk ratio may be around 1.7:1. For a farther target — more than 5:1. If the next correction completes near the last broken level (0.7717 — 0.7730), the potential profit/risk ratio may be small (approximately 0.5:1). When selecting a farther target — more than 2:1.
Long positions will remain relevant, as long as the market is above the nearest support level with boundaries 0.7665 — 0.7677. If the market successfully settles below this support, the trend will reverse to the opposite (bearish).
USDCHF. Technical analysis. D1.
Canadian Dollar (USDCAD)
Bearish trend continues, 2 candlesticks ago the correction likely completed, an impulse wave is developing. The last broken level is support (1.3627 — 1.3638). The breakout occurred 10 candlesticks ago.
Intermediate target for the downward movement is the support level with boundaries 1.3501 — 1.3550.
Potential profit/risk ratio from current prices when setting targets and fixing risks based on daily timeframe levels may be around 1.1:1.
Short positions will remain relevant, as long as the market remains below the nearest resistance level with boundaries 1.3696 — 1.3714. If the market successfully settles above this nearest resistance, the trend will reverse to the opposite (bullish).
USDCAD. Technical analysis. D1.
Australian Dollar (AUDUSD)
Bullish trend continues, 2 candlesticks ago the correction likely completed, an impulse wave is developing. The last broken level is resistance (0.7023 — 0.7050). The breakout occurred 10 candlesticks ago.
Intermediate target for the upward movement is the resistance level with boundaries 0.7127 — 0.7147.
Potential profit/risk ratio from current prices when setting targets and fixing risks based on daily timeframe levels may be small (approximately 0.3:1).
Long positions will remain relevant, as long as the market is above the nearest support level with boundaries 0.7013 — 0.7041. If the market successfully settles below this support, the trend will reverse to the opposite (bearish).
AUDUSD. Technical analysis. D1.
Bitcoin (BTC)
Bearish trend continues, a corrective wave is developing. An entry point for selling on rebound may form after the current correction completes. The last broken level is support (86004 — 86567). The breakout occurred 22 candlesticks ago.
Intermediate target for the downward movement is the support level with boundaries 65092 — 66213.
Potential profit/risk ratio from current prices when setting targets and fixing risks based on daily timeframe levels may be small (approximately 0.1:1). If the new correction completes near the resistance level (70265 — 72207), the potential profit/risk ratio may be around 1.1:1.
Short positions will remain relevant, as long as the market remains below the nearest resistance level with boundaries 70265 — 72207. If the market successfully settles above this nearest resistance, the trend will reverse to the opposite (bullish).
BTC. Technical analysis. D1.
Ether (ETH)
Bearish trend continues, an impulse wave is developing. The last broken level is support (2786 — 2816). The breakout occurred 21 candlesticks ago.
Intermediate target for the downward movement is the support level with boundaries 1897 — 1941.
Potential profit/risk ratio from current prices when setting targets and fixing risks based on daily timeframe levels may be less than 0.1:1. If the next correction completes near the resistance level (1998 — 2037), the potential profit/risk ratio may be small (approximately 0.5:1).
Short positions will remain relevant, as long as the market remains below the nearest resistance level with boundaries 1998 — 2037. If the market successfully settles above this nearest resistance, the trend will reverse to the opposite (bullish).
ETH. Technical analysis. D1.
Apple Inc (AAPL)
Bullish trend continues, a corrective wave is developing. An entry point for buying on rebound may form after the current correction completes. The last broken level is resistance (259.17 — 261.95). The breakout occurred 14 candlesticks ago.
Upon resumption of the upward movement, the first target will be the resistance level with boundaries 278.13 — 280.91.
If the correction completes near the support level (255.45 — 255.78), the potential profit/risk ratio may be around 3:1. If the correction completes near the last broken level (259.17 — 261.95), the potential profit/risk ratio may be around 1.4:1.
Long positions will remain relevant, as long as the market is above the nearest support level with boundaries 255.45 — 255.78. If the market successfully settles below this support, the trend will reverse to the opposite (bearish).
AAPL. Technical analysis. D1.
NVIDIA Corp (NVDA)
Bearish trend continues, a corrective wave is developing. An entry point for selling on rebound may form after the current correction completes. The last broken level is support (177.61 — 178.07). The breakout occurred 12 candlesticks ago.
Intermediate target for the downward movement is the support level with boundaries 171.03 — 171.88. In case of successful trend development, a farther target will be at the support level with boundaries 168.41 — 170.29.
If the correction completes near the resistance level (192.45 — 193.66), the potential profit/risk ratio may be approximately 2.7:1. When using a farther target — around 2.9:1.
Short positions will remain relevant, as long as the market remains below the nearest resistance level with boundaries 192.45 — 193.66. If the market successfully settles above this nearest resistance, the trend will reverse to the opposite (bullish).
NVDA. Technical analysis. D1.
Tesla Inc (TSLA)
Bearish trend continues, a corrective wave is developing. An entry point for selling on rebound may form after the current correction completes. The last broken level is support (414.50 — 416.56). The breakout occurred 12 candlesticks ago.
Intermediate target for the downward movement is the support level with boundaries 387.53 — 397.02.
If the correction completes near the resistance level (430.41 — 439.88), the potential profit/risk ratio may be approximately 1.9:1. If the correction completes near the last broken level (414.50 — 416.56), the potential profit/risk ratio may be small (approximately 0.5:1).
Short positions will remain relevant, as long as the market remains below the nearest resistance level with boundaries 430.41 — 439.88. If the market successfully settles above this nearest resistance, the trend will reverse to the opposite (bullish).
TSLA. Technical analysis. D1.
Summary
From the perspective of medium-term trading, financial instruments with correction close to completion on Daily and/or potentially the most promising profit-to-risk ratios include: AAPL, EURUSD, USDCAD. Soon, depending on the depth of market correction, may deserve attention: GBPUSD, USDCHF, TSLA.
The remaining financial instruments may also be interesting, but on these markets rebound signals on Daily are likely to appear no earlier than in a week.