Traders Edge: Market Briefing 12/04/23

In today’s Trader’s Edge Market Briefing, Tomasz discovered the following unique setups you might find interesting.
  • The Dollar and Yen are weakening ahead of inflation data from the US.
  • USDCHF bounced off the 0.91 resistance and is now trading close to yearly lows.
  • USDCAD is currently hovering above the long-term uptrend line, threatening buyers with a breakout.
  • AUDUSD is creating an inverse head and shoulders pattern, which can be the start of a new uptrend.
  • Gold has successfully ended its bearish correction and is now trading close to long-term highs.
  • A weaker Dollar is also supporting Oil, with the price currently on the upper boundary of a narrow rectangle created after the OPEC+ cut.
  • USDJPY is trading on the neckline of the iH&S formation, increasing the chances of a bullish breakout.
  • EURJPY has broken out to the upside from the symmetric triangle pattern and managed to break the horizontal resistance at 145.4. The situation here is extremely bullish
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