Last week I published a couple of trading analyses:
They are both showing reversal signals.
I was initially bullish AUDUSD but on Friday it printed a daily bearish engulfing candle, which is changing my point of view.
Now, it looks like the downtrend might continue.
Therefore, I will stay away from the AUDUSD.
On the other hand, S&P 500 is not looking as bearish as last week.
There were a few candles of indecision and Friday printed a small doji on the daily.
Therefore, I will not be taking any action here either.
DAX Trading Analysis 01/08/2021
DAX is looking bullish once again.
There is a pin bar candle on the daily timeframe and the general trend is bullish.
This is giving me the green light from a daily perspective.
I will be looking for a 4H confirmation once the market opens.
If I get on, I will be looking to possibly go long.
Just be extra careful with 15800, since it looks like a heavy area of resistance.