In today’s Trader’s Edge Market Briefing, Tomasz discovered the following unique setups you might find interesting.
USDJPY tests the upper line of the channel down pattern and the 131.5 resistance, which is a good chance for a bearish bounce.
GBPJPY drops below the 161 support, which may lead to a further decline.
EURUSD confidently trades close to the local highs, showing no signs of weakness.
SP500 broke the long-term down trendline but at the same time, buyers lost momentum, which may be dangerous.
DAX continues trading inside of the short-term pennant.
Gold trades similarly to the EURUSD, pretty confident close to the long-term highs.
WTI Oil reverses to test the neckline but this time, from the top.
EURPLN still holds above 4.7, which is a key support at the moment.
CADCHF continues the rise after a strong bounce off the 0.678 support.
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.