MarketBreakdown | EURUSD, USDCHF, WTI OIL, NZDUSD

17 May 2022

Hey traders,
here is a brief technical outlook of 4 peculiar instruments in my watch list.

1️⃣ EURUSD - Monthly time frame 🇪🇺 🇺🇸

The market reached 6-years-low last week.
And as I predicted, the market started to recover.

It looks like bullish pressure is strong enough to even break a daily structure resistance.
I believe that we may expect a further bullish continuation

2️⃣ USDCHF - Daily time frame 🇺🇸🇨🇭

As I predicted, the pair dropped nicely from a resistance line of a rising parallel channel.
Now it is approaching its support.
If the price breaks that to the downside, I will expect a bearish continuation on the pair.

3️⃣ WTI Crude Oil - Daily time frame 🛢️

The price recently broke and closed above a strong horizontal resistance.
Now the goal for buyers is March's High.
From that I will look for a pullback trade.

4️⃣ NZDUSD - Daily time frame 🇳🇿🇺🇸

The pair is trading in a strong bearish trend.
Setting a new lower low lower close on a daily the market retraced and now we see a nice correctional move.

Ahead is a strong horizontal resistance.
Look for trend-following opportunities from there.

❤️If you have any questions, please, ask me in the comment section.
Please, support my work with like, thank you!❤️

18 May 2022

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