Traders Edge: Market Briefing 12/04/23

In today’s Trader’s Edge Market Briefing, Tomasz discovered the following unique setups you might find interesting.

• The Dollar and Yen are weakening ahead of inflation data from the US.
• USDCHF bounced off the 0.91 resistance and is now trading close to yearly lows.
• USDCAD is currently hovering above the long-term uptrend line, threatening buyers with a breakout.
• AUDUSD is creating an inverse head and shoulders pattern, which can be the start of a new uptrend.
• Gold has successfully ended its bearish correction and is now trading close to long-term highs.
• A weaker Dollar is also supporting Oil, with the price currently on the upper boundary of a narrow rectangle created after the OPEC+ cut.
• USDJPY is trading on the neckline of the iH&S formation, increasing the chances of a bullish breakout.
• EURJPY has broken out to the upside from the symmetric triangle pattern and managed to break the horizontal resistance at 145.4. The situation here is extremely bullish