My personal FX pairs and XAUUSD analysis

I am a highly regarded trader, author & coach with over 16 years of experience trading financial markets. Today I am recognized by many as forex trading strategies and indicators developer. I also work with automated trading with top-accuracy Forex Robots and Expert Advisors. After starting blogging in 2014, I became one of the world's most widely followed forex trading coaches, with a monthly readership of more than 40,000 traders.

In this thread, I will share my daily analysis of FX pairs and XAUUSD.

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Dominic Walsh

CHFJPY has recently broken a key daily supply area.
The broken structure turned into a demand zone.

Approaching that, the price formed a double bottom formation and broke its neckline then.
I opened a long position early in the morning on a retest.

Now a bullish continuation is expected to 142.7 / 143.05

USDCAD reached a key supply zone on 4H.
The price formed a double top on that and broke its neckline at night.
I expect a bearish movement to 1.3349 / 1.3295

EURCAD was consolidating for 3 weeks in a wide horizontal trading range on a daily.
Its support was finally broken this week.
I believe that the pair may go lower now.
Next support - 1.428

I do not offer such a service due to a lack of time as a blogger today. My main focus is daily market analysis and automated trading using VPS.
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Dominic Walsh

USDJPY is testing a key horizontal demand zone on 4H.
The price formed a double bottom pattern on that and broke its neckline then.
I expect a bullish movement to 132.7

Here is my latest structure analysis for WTI Crude Oil.

Support 1: 72.3 - 73.2 area
Support 2: 70.0 - 71.4 area

Resistance 1: 81.7 - 85.2 wide supply area

Consider these structures for pullback/breakout trading.

Gold (#XAUUSD): That Was a Breakout
So it turned out that Gold broke a major rising trend line yesterday.
The market has successfully closed below that on a daily engulfing the last 3 bullish candles.
That violation may push the price lower.
Next support: 1833

#AUDCAD: Bearish Outlook Explained

AUDCAD looks very bearish:
the price has broken 2 rising trend lines on a daily,
formed a double top and broke its neckline as well.

The price is retesting the confluence zone based on the broken structures.

Probabilities are high that the pair will drop soon.
Goals: 0.924 / 0.916

EURUSD is moving into a correction phase. The price rests against the conditional support at 1.065 and forms a bearish flag. This pattern shows us the potential to revive the fall further.
The price tests the support zone of 1.07116 in a bearish flag format. A breakdown of the support of the local range may lead to liquidating the buying liquidity and activating the momentum for a strong bearish impulse.
However, I expect in the near term an exit of the price from the range downwards, a breakdown of the support of 1.07116, and price movement towards 1.065, and then to 1.0430

Gold (#XAUUSD): Bearish Outlook For This Week Explained

An important thing happened on Gold this week.
After a strong bearish movement, the price reached a major rising trend line.
The price was coiling on that since Monday.
On Thursday, it was broken, though.

The price closed below that, forming a bearish engulfing candle.

I believe that the market may keep falling next week.
Next support on focus is 1817 - 1833 area.

#GBPNZD: Bearish Move From Key Level

GBPNZD reached an important supply cluster last week.
The price formed a double top pattern on an hourly time frame approaching that.

I expect a bearish continuation to 1.903

USDCAD is trading within a wide horizontal trading range on a daily.
Approaching its resistance, the price formed a double-top pattern.
Its neckline was broken on Friday.

I expect a bearish move to 1.328 now

GBPCAD is taking off from a key horizontal support.
The price has formed a bullish engulfing candle on 4h, approaching that structure.
A double bottom on an hourly time frame was formed.
I expect a pullback to: 1.618 / 1.622

Here is my latest structure analysis for NZDUSD.

Resistance 1: 0.6412 - 0.644 area
Resistance 2: 0.6505 - 0.6538 area

Support 1: 0.619 - 0.6226 area
Support 2: 0.6155 - 0.6165 area
Support 3: 0.606 - 0.6095 area

Consider these structures for pullback/breakout trading.

GOLD (#XAUUSD): Detailed Structure Analysis

Here are the important key levels to watch on Gold.

Resistance 1: Major broken trend line
Resistance 2: 1897 - 1904 area
Resistance 3: 1946 - 1959 area

Support 1: 1817 - 1832 area
Support 2: 1765 - 1777 area

The market remains relatively weak.
It looks like the market may retest the broken trend line.
Watch carefully!

#USDJPY: Will We Go Higher?

Update for USDJPY.

Earlier, we spotted a confirmed breakout of a falling parallel channel on a daily.
The price has nicely respected the underlined blue zone we considered the buy zone.

The price bounced from that and set a new local higher-high higher close.

I will expect a further bullish continuation.
Next resistance - 134.5

MarketBreakdown | Dollar Index, GBPUSD, USDCAD, EURNZD

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

Dollar Index (#DXY) daily time frame
The market is consolidating within a narrow horizontal trading range.
Taking into consideration that the index is very bullish from the beginning of February,
I believe that a bullish rally will continue.

Wait for a bullish breakout of the resistance of the range,
daily candle close above that will most likely trigger a bullish continuation.

#GBPUSD daily time frame
The pair was rejected heavily from a key daily structure resistance.
A rejection candle with a long wick was formed.
It indicates an intense bearish pressure.

I believe that the pair will most likely keep falling.

#USDCAD daily time frame
The market is trading within a wide horizontal trading range.
Its support was reached yesterday, and the market was rejected from that.
Probabilities are high that a resistance of the range will be reached soon.

#EURNZD daily time frame
The price is forming a substantial ascending triangle formation.
A bullish breakout of its resistance will initiate a solid bullish wave.
Wait for a daily candle close above the neckline as a confirmation.

#EURUSD: Waiting For a Breakout

After a strong bearish movement, the pair is consolidating within a narrow horizontal trading range.
1.065 - 1.068 is its support.
I am waiting for its breakout (daily candle close below) to be short.

The pair will most likely drop then.
The goal will be 1.053

#EURJPY: Important Breakout

EURJPY finally broke and closed above a major horizontal resistance cluster on a daily.
The broken structure turned into a key support now.

I will expect a bullish continuation to 145.0 / 146.3 levels.
Pivot Point Indicator