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2021/10/22 Market Analysis

Authored by TD Markets
22.10.2021
Market Analysis
0
2 min

EURCHF: (update)

EURCHF bears continued their dominance as seen by how aggressively the market dropped from the supply zone around 1.07600. Traders still expected an aggressive drop from the minor support zone and for the market to shot straight to the target. At the moment the market is forming new lows. Traders are waiting for structure to develop for the next trend.

GBPUSD: (update)

The Dollar pairs have been slow for the past 24 hours as seen by the consolidation on GBPUSD. The market broke below the channel however traders are waiting for further confirmation and for the market to break structure to the downside. If the market rejects the previous low then the sell setup will be invalidated.


XAUUSD (GOLD): (update)

GOLD didn't not break below the counter-trendline instead it is currently breaking above the previous high. The bearish setup is still valid however, if the current candlestick closes above the resistance, then a rally to the upside is possible which will invalidate the bearish setup.

Authored by TD Markets
22.10.2021
Market Analysis
0
2 min
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