Traders Edge: Market Briefing 11/02/21

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

Gold bounced off the 38,2% Fibonacci level and created a head and shoulders pattern. That could be negative.

Brent crude oil is continuing the buying fiesta.

The NASDAQ is ready to set new ATH.

The DAX has broken the upper line of the wedge and is aiming for new highs.

The EURUSD escaped from the wedge too, climbing higher.

The AUDUSD escaped from the flag and tested the broken resistance as a support. It is definitely bullish at the time of writing.

The USDCHF dropped below the crucial horizontal and dynamic supports. This is not good for demand.

The NZDCAD is still below the crucial long-term horizontal resistance. It’s an interesting occasion for going short.

The NZDUSD is in a very similar setup to the AUDUSD but in this case, instead of a flag, it’s in a pennant.