Traders Edge: Market Briefing 13/05/22

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

USDJPY overnight corrects the 50% of the most recent downswing

GBPJPY also slightly corrects the recent slide and tests the major horizontal resistance

It’s also correction day for the SP500 and Nasdaq

DAX, German Index is doing much better than its American peers. The weak Euro is to blame, which is helping German exporters

EURUSD joins the correction party as well. 1.05 on the horizon

Gold breaks a major, long-term up trendline

AUDUSD breaks the long-term, horizontal support on the 0.7. That’s pretty negative

EURCHF drops to test a combination of three crucial supports, the down trendline, a horizontal one and the upper line of the symmetric triangle

GBPAUD with a massive double bottom formation. The price is close to a neckline, so a breakout here would be a major buy signal