Traders Edge: Market Briefing 11/06/21

In today’s analysis, we have a lot of instruments waiting for a breakout in order to give us a legitimate trading signal. These are possibly going to be sweet deals in the upcoming week or two.

First one is the GBPUSD pair, where the price is inside the flag formation, just below crucial long-term highs. Breakout to the upside, will give us a signal to buy

The USDJPY pair is testing the lower line of the flag. Breakout should activate more sellers

The EURGBP pair with a descending triangle pattern. Currently aiming its horizontal support

The EURJPY pair testing the neckline of a big H&S pattern. That can result with a breakout

The CHFJPY pair with a H&S pattern on a long-term resistance. Possibly an interesting trade for the sellers

The AUDJPY pair is trying to break the upper line of the triangle but the first attempt looks bad. It is possible that a false breakout is happening right this moment

The GBPJPY pair showing the beauty of price action. First two pennants and now very clean flag. Breakout to the upside can be a great buy signal