Traders Edge: Market Briefing 04/10/23
04 October 2023
In today’s Trader’s Edge Market Briefing, Tomasz has identified the following unique setups that may catch your interest:
- EURUSD: Oscillating upwards, the EURUSD shows resilience, potentially sketching a double bottom after rebuffing the lower limit of its channel.
- USDJPY: Lingering above 148.7, the USDJPY maintains a tentative stance, where a breach below could beckon sellers into action.
- AUDUSD: Demonstrating a flicker of bullish intent, the AUDUSD nudges upwards from recent mid-term lows, hinting at a potential recuperation.
- USDCAD: Liberating itself northwards, the USDCAD deftly navigates out of a symmetric triangle, scribing a bullish narrative in the short term.
- S&P 500: The index crafts a hammer candle, subtly whispering hopes of a bullish reversal, just as it flirts with the 38.2% Fibonacci support.
- NASDAQ: Displaying tenacity, the NASDAQ rebounds assertively over a pivotal 14,440 support, posing a question of sustained recovery.
- DAX: The German index, amid volatile swings, manifests a hammer candle, seemingly attempting to clamber back within the confines of a falling wedge.
- Oil (Brent & WTI): A unified descent sees both Brent and WTI testing the mid-term uptrend line, where a break beneath could unleash a new wave of selling pressure.