Daily Technical Analysis: McDonald’s Shares Hit ATH!
ZFX – Today's technical analysis will focus on Forex, Indices, American Stocks and Cryptocurrencies. Also, at the end of the article there is a GBPNZD trading idea (signal) that might be an insight for you.
Every afternoon in the London session, ZFX provides a technical analysis or outlook in the form of a video, don't forget to check the analysis video on our YouTube channel!
So how about today's Pre-London Analysis?
Before you start trading, you need to do some analysis first. Here's a little summary of today's market outlook (30/12/2021) brought to you from ZFX Analysts:
XAUUSD Technical Analysis - Commodities
Gold, on the daily timeframe, closed bearishly, although still above 1800. However, XAUUSD also left a long bottom-wick as a sign of rejection from the support area around 1790, which might wick-fill if it fails to pass the mini key level at 1805. However, it is still forming a higher low as long as it doesn't cross the 1787 area.
BTCUSD Technical Analysis - Cryptocurrency
The discussion on the previous outlook showed signs of a double top from BTCUSD. The first ever crypto has crashed from the resistance and broke the double top neckline. Now Bitcoin will challenge a strong support on the daily timeframe, if it is broken, then it could touch $42,000.
McDonald's Technical Analysis - American Stocks
McDonald's stock has hit a new all-time-high! There is no resistance that will block MCD now but the target area in the psychological figures could be a target; 275 or 280 in the near future. The resistance that has just been broken by it may be a retest area for it to continue its rise again.
Trading Idea - GBPNZD (Buy Limit)
Order: Buy Limit
Stop Loss: 1.95532
Target 1: 1.97500 (50% + BE)
Target 2: 1.98500 (25%)
Target 3: 1.99750 (25%)
Risk total: 1-2% Equity (Medium Risk Setup)
Reason: Bullish + Trendline touches the confluence structure with resistance that will become a support.
Disclaimer: Trading ideas by this website are provided as general market information for educational purposes. There is a risk of losing money in trading. Past performance is not necessarily indicative of future results.