Note

Pairs with yen going sideways inside of the triangles [Video]

Verified Media
· Views 705

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

Gold continues the decline towards the 1680 USD/oz support.

Brent oil reaches a new low on the 100 USD/bbl. Reaching this level can bring us a small bullish correction but in the long-term, oil looks rather bearish.

NZDUSD is not really moved by the RBNZ decision. We’re still close to the long-term lows.

EURUSD stays close to parity. Selling pressure remains high.

USDJPY bounces off the 136.7 support. A positive sentiment remains.

A very interesting setup is currently happening on 5 instruments: GBPJPY, GBPNZD, GBPAUD, AUDJPY and CADJPY. Here, we are inside of the long-term symmetric triangle pattern. In order to get a proper signal, we need to wait for a breakout. A breakout to the upside will give us a signal to buy, and a breakout to the downside will give us a signal to sell. We have to be patient and wait for the market to show us the direction.

Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.

If you like, reward to support.
avatar

Hot

No comment on record. Start new comment.