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2021/07/12 Market Analysis

Authored by TD Markets
12.07.2021
Market Analysis
0
2 min

USDMXN

USDMXN is failing to break the weekly demand zone. The market created a higher high from the recent bounce on the zone as this indicates that the buyers are gaining momentum. At the moment the market has been steadily creating higher highs and higher lows. A break and close above 19.94 price level will see buying momentum pushing the market to the next resistance zone.


USOIL

USOIL has broken below the support trendline and is now testing the trendline of which traders are anticipating a resistance. The trendline is in confluence with the 61.8 fib level as well as structure. This can alert traders for a possible downside bearish leg upon the rejection as there are multiple reasons for a bearish leg.


XAUUSD

XAUUSD is losing momentum to the upside as seen by the ascending structure. Traders are anticipating a retracement to 61.8 fib level before any bullish legs, as such a break and close below the structure will confirm the retracement.

Authored by TD Markets
12.07.2021
Market Analysis
0
2 min

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