Welcome to the new week. Time to take a look at the charts. Mondays like to surprise, but since the morning I do not enter into a transaction, but I observe the attitude of investors. Let’s start!
Petroleum
Petroleum still unchanged. It is still in consolidation and we are waiting for a breakout in either direction. I do not change the previous chart and paste exactly the same. In the event of a breakout, remember to pay attention to volatility and trading volume in order not to enter a false exit from the pattern.
Nasdaq
Nasdaq has created a double peak. If you’ve been a reader for a long time, you know that I don’t look at these signals if they are against the main trend. Double highs in a downtrend and double lows in an uptrend. I take this formation into account. In this case, it stops at resistance. Entry from a low time frame when there will be a specific signal because until then there is still an uptrend as I wrote about last week and it is possible that we will see new highs.
DAX30
The German DAX30 index is basically moving in consolidation. From the H1 time frame you can see that the price has crossed the local resistance and is now above the trendline. However, if we look at the M5 timeframe we will see a consolidation (shown in the second image). Probably today the case will be resolved and there will be a further move in a specific direction which we will locate and play in accordance with the emerging trend.
USDCHF
The currency pair found itself at the level of local support from the emerging uptrend. We can consider it a good signal that I wrote about a moment ago in the NQ analysis. We have a trend, we have a double low. Until we break the level I wrote about last week, the long position is still justified. A break below the 0.918xx price level may indicate a deeper correction for the dollar.
GBPUSD
The British Pound pair with the US Dollar is still in a downward trend. We have a similar situation as last week when I wrote that if a level is tested several times by investors, each time there is a greater chance of breaking it. So we have this time. The level is tested for the fourth time so if it goes down again we can expect price to finally break the support level. The possible range is marked with a line