Tomasz Wisniewski
Axiory Global Ltd.
In today’s Traders Edge Market Briefing, Tomasz found these unique setups that we thought you’d find interesting.
Gold continues the bounce off the 1680 USD/oz.
Brent Oil finished the right shoulder of the iH&S pattern but the down trendline may be an obstacle to a further rise.
USDCAD stays inside of the wedge after bouncing of the 38,2% Fibonacci. Chances for a further drop are increasing.
EURUSD is testing the lower line of the most recent rectangle. 1.012 serves so far as a good support.
USDJPY climbs higher in a wedge pattern, so the bigger drop is still possible.
GBPAUD tests the lower line of the symmetric triangle as a resistance. A bounce will be a needed confirmation of a sell signal.
DAX bounces off an important support on the 38,2% Fibonacci and continues the sideways movement inside of the flag.
Nasdaq bounces off 12180 points, which should be considered as a very positive factor.
SP500 is doing the same on the 3910 points.
Trading FX/CFDs on margin bears a high level of risk, and may not be suitable for all investors. Before deciding to trade FX/CFDs you should carefully consider your investment objectives, level of experience, and risk appetite. You can sustain significant loss.
Recommended Content
Editors’ Picks
EUR/USD retreats toward 1.0850 on modest USD recovery
EUR/USD stays under modest bearish pressure and trades in negative territory at around 1.0850 after closing modestly lower on Thursday. In the absence of macroeconomic data releases, investors will continue to pay close attention to comments from Federal Reserve officials.
GBP/USD holds above 1.2650 following earlier decline
GBP/USD edges higher after falling to a daily low below 1.2650 in the European session on Friday. The US Dollar holds its ground following the selloff seen after April inflation data and makes it difficult for the pair to extend its rebound. Fed policymakers are scheduled to speak later in the day.
Gold climbs to multi-week highs above $2,400
Gold gathered bullish momentum and touched its highest level in nearly a month above $2,400. Although the benchmark 10-year US yield holds steady at around 4.4%, the cautious market stance supports XAU/USD heading into the weekend.
Chainlink social dominance hits six-month peak as LINK extends gains
-637336005550289133_XtraSmall.jpg)
Chainlink (LINK) social dominance increased sharply on Friday, exceeding levels seen in the past six months, along with the token’s price rally that started on Wednesday.
Week ahead: Flash PMIs, UK and Japan CPIs in focus – RBNZ to hold rates
After cool US CPI, attention shifts to UK and Japanese inflation. Flash PMIs will be watched too amid signs of a rebound in Europe. Fed to stay in the spotlight as plethora of speakers, minutes on tap.