Traders Edge: Market Briefing 27/07/22

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

Gold continues the bounce off the 1680 USD/oz

Brent Oil finished the right shoulder of the iH&S pattern but the down trendline may be an obstacle to a further rise

USDCAD stays inside of the wedge after bouncing of the 38,2% Fibonacci. Chances for a further drop are increasing

EURUSD is testing the lower line of the most recent rectangle. 1.012 serves so far as a good support

USDJPY climbs higher in a wedge pattern, so the bigger drop is still possible

GBPAUD tests the lower line of the symmetric triangle as a resistance. A bounce will be a needed confirmation of a sell signal

DAX bounces off an important support on the 38,2% Fibonacci and continues the sideways movement inside of the flag

Nasdaq bounces off 12180 points, which should be considered as a very positive factor

SP500 is doing the same on the 3910 points