Traders Edge: Market Briefing 09/11/22

By Tomasz Wisniewski|

Published: November 09 2022, 12:02 GMT+0

Traders Edge: Market Briefing 09/11/22

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

The US Elections are too close to call right now but markets are calmly awaiting final results

Dow Jones is resisting at the upper line of the wedge, close to the mid-term tops, the sentiment is definitely positive

DAX is also doing pretty well, all set and ready for the continuation of the mid-term up trend

The biggest change is happening on Gold, which broke the 1680 USD/oz resistance and with that, the buy signal is ON

Not all commodities are pushing higher though. Brent oil is on weekly lows, currently testing the mid-term up trendline. A breakout would mean a proper sell signal

EURUSD formed a pennant and is currently testing its upper line while trading above parity. A breakout can bring us a buy signal

USDJPY is defending a key support on the 145. A breakout below would be a signal to sell

USDCAD is dropping after the price created a very nice head and shoulders pattern. The neckline is already broken, which opens a way towards the 38,2% Fibonacci, so 215 pips lower