USD and stocks start the new week with a correction [Video]
|In today’s Traders Edge Market Briefing, Tomasz found these amazing setups that we thought you’d find interesting.
SP500 started the new week with a possible double bottom formation and a promising movement to the upside.
Nasdaq is defending the 50% Fibonacci and is also creating a double bottom formation.
The DAX in a better situation with an inverse head and shoulders pattern. We are inches from breaking the neckline and creating a buy signal.
The EURUSD is climbing higher, after the price broke the neckline of the inverted Head and Shoulders pattern and the long-term down trendline (red).
The AUDUSD is in a very similar pattern and is also aiming higher.
The USDCAD dropped after the price created a false bullish breakout.
The GBPCAD joined the EURUSD and AUDUSD in an upward movement triggered by the inverted Head and Shoulders formation.
The GBPAUD tested the lower line of the pennant. The end of the sideways trend is near, and a breakout to the downside is currently on the table
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.