In today’s Traders Edge Market Briefing, Tomasz found those amazing setups we thought you’d find interesting!
Almost all indices collapse and aim for long-term lows
SP500 is testing the 23,6% Fibonacci
DAX is very close to reach the 38,2% Fibonacci
FTSE breaks the lower line of the wedge formation
CAC reaches crucial support from the first half of the year
EURUSD breaks the lower line of the flag formation
EURAUD eventually bounces from the upper line of the sideways trend
EURGBP in a flag but with inclinations for an upswing
AUDCHF goes lower after the bounce from a crucial resistance
WTI Oil breaks the lower line of the symmetric triangle
Gold goes lower after the escape from the mid-term pennant
USDPLN breaks the neckline of the inverse Head & Shoulders pattern, it looks bullish
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Editors’ Picks
EUR/USD trades weak below 1.0800 amid Good Friday lull, ahead of US PCE
EUR/USD remains depressed below 1.0800 after soft French inflation data, amid minimal volatility and thin liquidity on Good Friday. The pair keenly awaits the US PCE inflation data and Fed Chair Powell's speech for fresh hints on next week's price action.
GBP/USD holds steady above 1.2600 as markets stay calm on Good Friday
GBP/USD trades sideways above 1.2600 amid a typical Good Friday trading lull. A broadly firmer US Dollar could keep any upside attempts limited in the pair ahead of the US PCE inflation data and Fed Chair Powell's appearance.
Gold price sits at all-time highs above $2,230
Gold price holds near a fresh all-time high at $2,236 in thinned trading amid the Easter Holiday. Most major world markets remain closed, although the United States published core PCE inflation, the Federal Reserve’s favorite inflation gauge.
Jito price could hit $6 as JTO coils up inside this bullish pattern
Jito (JTO) price has been on an uptrend since forming a local bottom in early January. Since then, JTO has revisited the key swing point formed in early December, suggesting the bulls’ intention to move higher.
Key events in developed markets next week
Next week, the main focus will be inflation and the labour market in the Eurozone. We expect services inflation to be impacted by the easter effect, while the unemployment rate to be unchanged.