Traders Edge: Market Briefing 02/07/21

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

Welcome to the NFP Friday, where we won’t be missing two things for sure: volatility and liquidity.

Major global indices are either on the all-time-highs or are very close to make new ones.

Gold is trying a reversal on an important support with a double bottom formation but stronger USD can be a huge obstacle here.

Stronger USD is not a problem for Oil though, which is pushing higher without hesitation.

The EURUSD is finishing to draw a right shoulder of a giant head and shoulders pattern. We are slowly aiming for the neckline, where everything will be made clear.

Pairs like GBPUSD, AUDUSD and NZDUSD all have very similar patterns to the EURUSD, so situation on them is virtually the same.

The EURGBP pair with a possible false breakout pattern. We are back inside of the wedge and that can be bearish.