Traders Edge: Market Briefing 02/03/22

By Tomasz Wisniewski|

Published: March 02 2022, 10:51 GMT+0

Traders Edge: Market Briefing 02/03/22


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

DAX crashed a major support and makes the new mid-term lows.

American indices are behaving slightly better as the SP500 and Nasdaq are still defending the major supports.

EURUSD drops making new long-term lows. The pair is probably in a free fall to the support around 1.09

NZDUSD is in a better position. Here, the price came back above the 38,2% Fibonacci, confirming the false bearish breakout and creating a mid-term buy signal

Gold broke the crucial horizontal resistance on the 1910 USD/oz and is now aiming at the horizontal resistance on the 1960 USD/oz. The buy signal is on.

The commodity with the strongest buy signal is not the safe haven gold but oil. Brent is currently trading at 112 USD/bbl. Entering with a long position right now is a bit risky though as the price seems a bit stretched, which makes it prone to rapid corrections.