Traders Edge: Market Briefing 12/07/23

In today’s Trader’s Edge Market Briefing, Tomasz has identified the following unique setups that may catch your interest:
  • EURUSD: Capitalizing on USD's weakness, setting new mid-term highs.
  • USDJPY: Marks the 5th consecutive bearish candle, affirming the ongoing sell signal.
  • USDCHF: Descending toward the 2020 lows, continuing sell signal.
  • Indices: Rebounding impressively from bearish correction; DAX notably ascends above 15,700 points, signaling a potential buy.
  • AUDJPY & CADJPY: Both pairs notch 6th consecutive bearish candle, with CADJPY breaching the long-term uptrend line.
  • USDCAD: Aiming for the long-term uptrend line post-bounce from the lower line of the symmetric triangle pattern.
  • EURGBP: On a downward trend, reaching its lowest level since August 2022.
  • Commodities: Riding on USD's weakness for an upward climb; gold rises after forming an inverse head and shoulders pattern.
  • WTI Oil: At the peak of the sideways trend, indicating potential upside breakout.
  • Brent Oil: Successfully broke out of the sideways trend and defended $77.6 per barrel, maintaining its climb.
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