We are reviewing the most important levels on key financial instruments and likely scenarios for developments.
Key Topics
- Euro (EURUSD)
- British Pound (GBPUSD)
- Swiss Franc (USDCHF)
- Japanese Yen (USDJPY)
- 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 again. An entry point for buying on rebound may form after the current correction completes. The last broken level is resistance (1.1666 — 1.1682). The breakout occurred 13 candlesticks ago.
Intermediate target for the upward movement is the resistance level with boundaries 1.1795 — 1.1808. In case of successful trend development, a farther target will be at the resistance level with boundaries 1.1871 — 1.1918.
If the next correction completes near the support level (1.1703 — 1.1710), the potential profit/risk ratio may be slightly more than 1:1. When using 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 1.1703 — 1.1710. If the market successfully closes below this support, the trend will reverse to the opposite (bearish).
British Pound (GBPUSD)
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 (1.3393 — 1.3438). The breakout occurred 5 candlesticks ago.
Intermediate target for the upward movement is the resistance level with boundaries 1.3513 — 1.3534. In case of successful trend development, a farther target will be at the resistance level with boundaries 1.3653 — 1.3726.
The potential profit/risk ratio from current prices when setting targets and fixing risks according to daily timeframe levels may be small (around 0.1:1). When using a farther target — also small (approximately 0.6:1). If the correction completes near the support level (1.3312 — 1.3374), the potential profit/risk ratio may be approximately 1.5:1. For a farther target — around 2.7:1. If the correction completes near the last broken level (1.3393 — 1.3438), the potential profit/risk ratio may be small (approximately 0.5:1). When selecting a farther target — insignificant (around 1.3:1).
Long positions will remain relevant, as long as the market is above the nearest support level with boundaries 1.3312 — 1.3374. If the market successfully closes below this nearest support, the trend will reverse to the opposite (bearish).
Swiss Franc (USDCHF)
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 (0.7924 — 0.7942). The breakout occurred 5 candlesticks ago.
Intermediate target for the downward movement is the support level with boundaries 0.7858 — 0.7874.
The potential profit/risk ratio from current prices when setting targets and fixing risks according to daily timeframe levels may be small (approximately 0.1:1). If the correction completes near the resistance level (0.8068 — 0.8085), the potential profit/risk ratio may be around 3:1. If the correction completes near the last broken level (0.7924 — 0.7942), the potential profit/risk ratio may be small (around 0.3:1).
Short positions will remain relevant, as long as the market remains below the nearest resistance level with boundaries 0.8068 — 0.8085. If the market successfully closes above this nearest resistance, the trend will reverse to the opposite (bullish).
Japanese Yen (USDJPY)
Bullish trend continues, 2 candlesticks ago the correction likely completed and an entry point for buying on rebound formed, an impulse wave is developing. The last broken level is resistance (156.82 — 156.95). The breakout occurred 6 candlesticks ago.
Intermediate target for the upward movement is the resistance level with boundaries 157.73 — 157.78. In case of successful trend development, a farther target will be at the resistance level with boundaries 161.69 — 161.85.
If the correction completes near the support level (155.56 — 155.91), the potential profit/risk ratio may be approximately 1.5:1. When using a farther target — around 4:1.
Long positions will remain relevant, as long as the market is above the nearest support level with boundaries 155.56 — 155.91. If the market successfully closes below this support, the trend will reverse to the opposite (bearish).
Canadian Dollar (USDCAD)
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 (1.3728 — 1.3754). The breakout occurred 4 candlesticks ago.
Intermediate target for the downward movement is the support level with boundaries 1.3573 — 1.3590. In case of successful trend development, a farther target will be at the support level with boundaries 1.3470 — 1.3488.
The potential profit/risk ratio from current prices when setting targets and fixing risks according to daily timeframe levels may be small (approximately 0.4:1). When using a farther target — also small (around 0.9:1). If the next correction completes near the resistance level (1.3802 — 1.3805), the potential profit/risk ratio may be approximately 3:1. For a farther target — more than 4:1. If the next correction completes near the last broken level (1.3728 — 1.3754), the potential profit/risk ratio may be small (approximately 1.2:1). When selecting a farther target — around 2:1.
Short positions will remain relevant, as long as the market remains below the nearest resistance level with boundaries 1.3802 — 1.3805. If the market successfully closes above this nearest resistance, the trend will reverse to the opposite (bullish).
Australian Dollar (AUDUSD)
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 (0.6676 — 0.6685). The breakout occurred 4 candlesticks ago.
Intermediate target for the upward movement is the resistance level with boundaries 0.6751 — 0.6759. In case of successful trend development, a farther target will be at the resistance level with boundaries 0.6915 — 0.6942.
If the correction completes near the support level (0.6590 — 0.6603), the potential profit/risk ratio may be approximately 2.9:1. When using a farther target — around 6:1. If the correction completes near the last broken level (0.6676 — 0.6685), the potential profit/risk ratio may be small (approximately 0.5:1). When selecting a farther target — approximately 1.7:1.
Long positions will remain relevant, as long as the market is above the nearest support level with boundaries 0.6590 — 0.6603. If the market successfully closes below this nearest support, the trend will reverse to the opposite (bearish).
Bitcoin (BTC)
Bearish trend continues, a corrective wave is developing again. An entry point for selling on rebound may form after the current correction completes. The last broken level is support (87800 — 89272). The breakout occurred 12 candlesticks ago.
Intermediate target for the downward movement is the support level with boundaries 84436 — 85463. In case of successful trend development, a farther target will be at the support level with boundaries 74437 — 76272.
If the correction completes near the resistance level (88622 — 90502), the potential profit/risk ratio may be slightly more than 1:1. When using a farther target — more than 3:1. If the correction completes near the last broken level (87800 — 89272), the potential profit/risk ratio may be insignificant (around 0.6:1). When assessing a farther target — more than 2:1.
Short positions will remain relevant, as long as the market remains below the nearest resistance level with boundaries 88622 — 90502. If the market successfully closes above this nearest resistance, the trend will reverse to the opposite (bullish).
Ether (ETH)
Bearish trend continues, 4 candlesticks ago the correction completed and an entry point for selling on rebound formed, an impulse wave is developing. The last broken level is support (2931 — 3024). The breakout occurred 10 candlesticks ago.
Intermediate target for the downward movement is the support level with boundaries 2720 — 2800. In case of successful trend development, a farther target will be at the support level with boundaries 2476 — 2508.
If the correction completes near the resistance level (3006 — 3073), the potential profit/risk ratio may be approximately 1.5:1. When using a farther target — around 3:1.
Short positions will remain relevant, as long as the market remains below the nearest resistance level with boundaries 3006 — 3073. If the market successfully closes above this nearest resistance, the trend will reverse to the opposite (bullish).
Apple Inc (AAPL)
Bullish trend continues, 3 candlesticks ago the correction completed and an entry point for buying on rebound formed, an impulse wave is developing. The last broken level is resistance (275.25 — 276.70). The breakout occurred 22 candlesticks ago.
Nearest target for the upward movement is the resistance level with boundaries 286.20 — 288.62.
Long positions will remain relevant, as long as the market is above the nearest support level with boundaries 269.56 — 270.84. If the market successfully closes below this support, the trend will reverse to the opposite (bearish).
NVIDIA Corp (NVDA)
Trend has turned bullish, when last week the resistance level (185.56 — 188.00) 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 199.05 — 199.94. In case of successful trend development, a farther target will be at the resistance level with boundaries 208.08 — 211.34.
The potential profit/risk ratio from current prices when setting targets and fixing risks according to daily timeframe levels may be small (around 0.3:1). When using a farther target — also small (approximately 0.7:1). If the correction completes near the support level (170.31 — 170.94), the potential profit/risk ratio may be approximately 5:1. For a farther target — around 7:1. If the correction completes near the last broken level (185.56 — 188.00), the potential profit/risk ratio may be insignificant (around 0.6:1). When selecting a farther target — around 1:1.
Long positions will remain relevant, as long as the market remains above the nearest support level with boundaries 170.31 — 170.94. If the market successfully closes below this support, the trend will reverse to the opposite (bearish).
Tesla Inc (TSLA)
Bullish trend continues, after a weak impulse a corrective wave is developing again. An entry point for buying on rebound may form after the current correction completes. The last broken level is resistance (442.15 — 442.49).
Upon resumption of the upward movement, the intermediate target will be the nearest resistance level. In case of successful trend development, a farther target will be at the next resistance level.
Long positions will remain relevant, as long as the market is above the nearest support level with boundaries 465.83 — 467.26. If the market successfully closes below this support, the trend will reverse to the opposite (bearish).
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: EURUSD, GBPUSD, USDCHF, AAPL, TSLA. In the near future, they may be worth attention depending on the depth of market correction: USDCAD, AUDUSD.
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.











