Hey traders, here is a brief technical outlook of 4 peculiar instruments in my watch list.
1️⃣ EURUSD - Daily time frame 🇪🇺🇺🇸
Important decision is ahead! The price touched a year's low yesterday. 1.1523 - 1.153 is a major support level.
In case of its bearish breakout a further decline will be expected. Consider a breakout trade for shorting.
For buying, wait for a confirmation on a lower time frame to catch a pullback. F.ex watch a double bottom formation on hourly.
2️⃣ USDJPY - Daily time frame 🇺🇸🇯🇵
The market has recently reached a key weekly resistance level. On that I see bearish accumulation signs: the price set multiple lower highs respecting the same lows. It looks like the pair is forming a descending triangle formation. Wait for its support breakout as a signal to short.
3️⃣ EURJPY - 3 days time frame 🇪🇺🇯🇵
The pair is steadily falling. Ahead is a strong support cluster. To catch a bullish continuation wait for a touch of 130.4 - 130.7 area, then wait for a confirmation to buy.
Your confirmation might be a bullish flag breakout on 4H.
4️⃣ Silver (XAGUSD) - Daily time frame 🪙
Silver has recently bounced from a key level. Taking into consideration that the market is trading in a bullish trend since the end of September I expect a bullish continuation to the closest major resistance.
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