Traders Edge: Market Briefing 16/08/23
16 August 2023
In today’s Trader’s Edge Market Briefing, Tomasz has identified the following unique setups that may catch your interest:
- EURUSD: Trading lower, nearing monthly lows after breaking the mid-term uptrend line.
- USDJPY: Settling comfortably above the 145 resistance level.
- S&P 500: Breaking its mid-term uptrend line and heading lower after a bleak session yesterday.
- Dow Jones: Targeting a critical horizontal support level at 34,500 points.
- NASDAQ: Continuing its downward journey within a flag formation.
- DAX: Engaged in a pivotal battle at the 15,700 points mark.
- NZDUSD: Potentially initiating a bullish correction following the interest rate decision from New Zealand.
- Gold: In the midst of a decisive standoff at the $1900 horizontal support level.
- WTI Oil: Trending lower after the false breakout above the $83 per barrel resistance.
- Brent Oil: Declining following a rejection at the key horizontal resistance level of $88 per barrel