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Pair With Yen Are Slowly Terminating the Correction

By:
Tomasz Wiśniewski
Published: Oct 28, 2021, 10:22 UTC

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

Pair With Yen Are Slowly Terminating the Correction

In this article:

Indices are experiencing a small bearish correction close to the all-time or in some cases – long-term highs.

EURUSD is coming back to the major, long-term downtrend after the price bounced off the 38,2% Fibonacci.

USDJPY is balancing on a mid-term horizontal support. Sentiment is of course still positive.

NZDUSD for the past few days has been moving sideways, big signal probably coming soon!

CADJPY is inside of a flag pattern waiting for another ride north.

Pretty much the same is happening on the GBPJPY.

Now let’s move on to metals:

Silver is in the process of creating the right shoulder of the iH&S formation, which can start a proper bullish trend here.

Gold is still locked between crucial Fibonacci lines. We need to see a breakout first before we are going to see any major swings.

Platinum creates another trend continuation pattern, which, with a false breakout to the upside, can give us a proper sell signal.

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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