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2022/03/03 Market Analysis

Authored by TD Markets
03.03.2022
Technical Analysis
0
2 min

CHFJPY:

CHFJPY broke and closed above the resistance zone, retraced and continued the bullish trend, +40 pips since the last commentary. Traders are already holding long positions till the top of the daily structure. At the moment the market is trading above the support and provides a break and retest scenario for more long opportunities.

US30:

US30 aggressively rejected the bottom of the structure and rallied to the upside forming higher lows. At the moment the market is at the resistance zone. A daily break and close above the resistance will indicate bullish momentum and a trading opportunity to the upside. Alternatively a daily rejection and close below the resistance will indicate bearish momentum.

USDCHF:

USDCHF is at the support zone as well as the support trendline. Previously the market rejected the supply zone and the top of the corrective structure. This whole price action indicates a possible break and close below the support zones and a continuation to the downside. Traders are keeping an eye for shorting opportunities.

Authored by TD Markets
03.03.2022
Technical Analysis
0
2 min
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