Traders Edge: Market Briefing 13/07/22

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.