Traders Edge: Market Briefing 04/07/22

By Tomasz Wisniewski|

Published: July 04 2022, 09:44 GMT+0

Traders Edge: Market Briefing 04/07/22


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

Gold bounced off a crucial horizontal support on the 1785 USD/oz.

The EURUSD also bounced from a key horizontal support but at 1.036.

The NZDUSD returned above the crucial horizontal support and psychological level of 0.62 creating a false bearish breakout pattern.

The USDCAD broke the lower line of the flag and returned to the down trend which started with the head and shoulders pattern.

The USDJPY stayed inside a rectangle between 135.5 and 134.8.

The GBPJPY tried a bullish reversal with an inverse head and shoulders pattern. The neckline is already broken.

The EURCAD is attacking the support of the rectangle pattern. A bearish breakout will bring a strong sell signal.

NASDAQ created a small pennant below the 50% Fibonacci, a breakout to the downside seems more likely at the moment.