MarketBreakdown | EURUSD, USDJPY, Dollar Index, USDCHF

2 de mai. de 2023

Here are the updates & outlook for multiple instruments in my watchlist.

1️⃣ EURUSD daily time frame 🇪🇺🇺🇸
The pair broke and closed below an important rising trend line,
it makes me think that the market may go lower before the FOMC.

2️⃣ USDJPY daily time frame 🇺🇸🇯🇵
The market reached a key horizontal structure resistance.
Taking into consideration the fact that the market is quite overbought,
we might see a pullback from that structure.

Alternatively, its bullish breakout may initiate a strong bullish wave.

3️⃣ Dollar Index (DXY) daily time frame 💲
The Index formed a cup and handle pattern and currently testing the neckline.
A bullish breakout of that and a daily candle close above will confirm a bullish reversal.

4️⃣ USDCHF daily time frame 🇺🇸🇨🇭
The pair broke a solid falling trend line and heading towards a key horizontal resistance,
forming a huge double bottom on a daily.
A bullish breakout of its neckline will initiate a bullish reversal.

Do you agree with my market breakdown?

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