Australian Dollar On The RiseIn today’s Traders Edge Market Briefing, Tomasz found these amazing setups we thought you’d find interesting!
Gold traders are fighting to keep the bullish dream alive and they’re trying to create the right shoulder of the Inverse head and shoulders pattern. A breakout of the neckline can possibly bring serious bullish sentiment.
Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary. A Product Disclosure Statement (PDS) can be obtained either from this website or on request from our offices and should be considered before entering into a transaction with us. Raw Spread accounts offer spreads from 0.0 pips with a commission charge of USD $3.50 per 100k traded. Standard account offer spreads from 1 pips with no additional commission charges. Spreads on CFD indices start at 0.4 points. The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Silver bounced from a crucial support on the 24.8 USD/oz.
Brent oil broke the mid-term down trendline and is aiming higher.
The Dow Jones is in the third wedge pattern in a row. The previous two ended in an upswing.
The EURUSD climbed back above the 23.6% Fibonacci.
The GBPUSD wasted a great chance for an upswing and failed to break the neckline of the inversed head and shoulders pattern.
The AUDUSD on the other hand, is very close to activating the buy signal from its own inversed head and shoulders formation.
The USDCAD is locked in a tight rectangle below major down trendlines.
The GBPAUD is in a sweet long-term sell signal, after the price created a head and shoulders pattern at the end of the wedge. A breakout of the lower line of the wedge opens a way towards new mid-term lows.
For a look at all of today’s economic events, check out our economic calendar.