Tomasz Wisniewski
Axiory Global Ltd.
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
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 edges lower toward 1.0700 post-US PCE
EUR/USD stays under modest bearish pressure but manages to hold above 1.0700 in the American session on Friday. The US Dollar (USD) gathers strength against its rivals after the stronger-than-forecast PCE inflation data, not allowing the pair to gain traction.
GBP/USD retreats to 1.2500 on renewed USD strength
GBP/USD lost its traction and turned negative on the day near 1.2500. Following the stronger-than-expected PCE inflation readings from the US, the USD stays resilient and makes it difficult for the pair to gather recovery momentum.
Gold struggles to hold above $2,350 following US inflation
Gold turned south and declined toward $2,340, erasing a large portion of its daily gains, as the USD benefited from PCE inflation data. The benchmark 10-year US yield, however, stays in negative territory and helps XAU/USD limit its losses.
Bitcoin Weekly Forecast: BTC’s next breakout could propel it to $80,000 Premium
Bitcoin’s recent price consolidation could be nearing its end as technical indicators and on-chain metrics suggest a potential upward breakout. However, this move would not be straightforward and could punish impatient investors.
Week ahead – Hawkish risk as Fed and NFP on tap, Eurozone data eyed too
Fed meets on Wednesday as US inflation stays elevated. Will Friday’s jobs report bring relief or more angst for the markets? Eurozone flash GDP and CPI numbers in focus for the Euro.