Traders Edge: Market Briefing 25/10/23

25/10/23 In today’s Trader’s Edge Market Briefing, Tomasz has identified the following unique setups that may catch your interest:
  • EURUSD: Dipped below the pivotal 1.061 support, signaling a strong bearish sentiment.
  • USDCHF: Gearing up for a bullish reversal, though the resilient Franc poses a challenge.
  • USDJPY: Teetering just shy of the critical 150 mark. Keep an eye out for potential interventions by the Bank of Japan.
  • Indices: A potential bullish resurgence in the air, but the momentum remains sluggish. Notably, NASDAQ, DAX, and Doge's stand firm above their respective key supports, yet a breakout looms.
  • AUDUSD: Encountering resistance at the top boundary of its channel down formation. The emergence of a shooting star suggests a bearish outlook.
  • NZDUSD: On a downward trajectory, honoring the recent horizontal resistance pegged at 0.587.
  • GBPCHF: Sustaining its descent after breaking free from a prolonged sideways trend.
  • Oil: On the brink of challenging key horizontal thresholds. A potential breach could pave the way for a compelling sell signal.
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