AUD on the move [Video]

Tomasz Wisniewski Axiory Global Ltd.

In today’s Traders Edge Market Briefing, Tomasz found these amazing setups that we thought you’d find interesting.

Oil climbs higher after comments from two leading OPEC countries about their inability to boost production.

Nasdaq climbs back above the 50% Fibonacci and is currently breaking the upper line of the wedge, which is bullish.

DAX tries to break the neckline of the triple-bottom formation, which when completed, could be considered a signal to buy.

GBPUSD moves sideways. Technical traders are waiting for the completion of a double bottom formation.

USDCAD drops after the head and shoulder pattern on the 38,2% Fibonacci – that’s a strong sell.

NZDUSD inside of a pennant, waiting for a breakout and a proper trading signal.

EURAUD bounces off a 50% Fibonacci and comes back inside of the triangle, that can be a great sell.

GBPAUD with a very similar situation – potentially a false breakout and a nice sell signal.

Author

Tomasz Wisniewski

Axiory Global Ltd.

Tomasz was born in Warsaw, Poland on 25th October, 1985.

EUR/USD hits two-day highs near 1.1820

EUR/USD picks up pace and reaches two-day tops around 1.1820 at the end of the week. The pair’s move higher comes on the back of renewed weakness in the US Dollar amid growing talk that the Fed could deliver an interest rate cut as early as March. On the docket, the flash US Consumer Sentiment improves to 57.3 in February.

GBP/USD reclaims 1.3600 and above

GBP/USD reverses two straight days of losses, surpassing the key 1.3600 yardstick on Friday. Cable’s rebound comes as the Greenback slips away from two-week highs in response to some profit-taking mood and speculation of Fed rate cuts. In addition, hawkish comments from the BoE’s Pill are also collaborating with the quid’s improvement.

Gold climbs further, focus is back to 45,000

Gold regains upside traction and surpasses the $4,900 mark per troy ounce at the end of the week, shifting its attention to the critical $5,000 region. The move reflects a shift in risk sentiment, driving flows back towards traditional safe haven assets and supporting the yellow metal.

Crypto Today: Bitcoin, Ethereum, XRP rebound amid risk-off, $2.6 billion liquidation wave

Bitcoin edges up above $65,000 at the time of writing on Friday, as dust from the recent macro-triggered sell-off settles. The leading altcoin, Ethereum, hovers above $1,900, but resistance at $2,000 caps the upside. Meanwhile, Ripple has recorded the largest intraday jump among the three assets, up over 10% to $1.35.

Three scenarios for Japanese Yen ahead of snap election

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XRP rally extends as modest ETF inflows support recovery

Ripple is accelerating its recovery, trading above $1.36 at the time of writing on Friday, as investors adjust their positions following a turbulent week in the broader crypto market. The remittance token is up over 21% from its intraday low of $1.12.