American Dollar Still Sleepy, Waiting for a Breakout

Tomasz Wiśniewski
Published: Dec 29, 2021, 09:53 GMT+00:00

In today’s Traders Edge Market Briefing, Tomasz has found these amazing setups that we thought you’d find interesting.

American Dollar Still Sleepy, Waiting for a Breakout

In this article:

Santa is here, even after Christmas. Indices continue the movement to the upside. Many major indices are currently flirting with all-time-highs.

Dollar Index continues trading inside of the pennant formation. Breakout should happen really soon.

Of course a very similar situation can be spotted on the EURUSD, where the price is slowly approaching the end of this sideways movement.

GBPUSD is enjoying the bounce from the 38,2% Fibo and the lower line of the flag formation.

Almost the same is happening on the NZDUSD but here buyers are more cautious and the bullish momentum is not as admirable as on the Cable.

CHFJPY is enjoying the upswing after the price was locked between Fibos for almost six weeks. Great example of what happens when the price eventually escapes from the sideways trend.

Silver is not bothered by the stronger USD and is aiming for the long-term dynamic resistance.

Gold is doing slightly worse. The shooting star on a daily chart can especially be a problem for buyers.

Oil broke a major horizontal and dynamic resistance. Sentiment with that is definitely bullish.

For a look at all of today’s economic events, check out our economic calendar.

About the Author

During his career, Tomasz has held over 400 webinars, live seminars and lectures across Poland. He is also an academic lecturer at Kozminski University. In his previous work, Tomasz initiated live trading programs, where he traded on real accounts, showing his transactions, providing signals and special webinars for his clients.

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