In today’s Traders Edge Market Briefing, Tomasz found these amazing setups that we thought you’d find interesting.
All eyes are on the FOMC coming up on Wednesday. Technical setups can look cool right now but they will probably be sidelined when the volatility and momentum kick-in during the rate decision and further press conference.
Nasdaq tests 38,2% from the bottom and then drops below 50% Fibonacci. Tuesday starts with a bounce but a mild one
DAX escapes from the symmetric triangle to the downside
Gold doesn’t seem like a good safe haven idea. The stronger USD is probably the issue
The stronger USD isn’t stopping oil from climbing higher. Brent is on its way to setting new, mid-term highs
On currencies, Tuesday brings many shy corrections of yesterday’s volatile movements. It’s hard to believe that any of them are a proper trend reversal rather than a dead cat bounce. Those can be seen on EURUSD, GBPUSD or AUDUSD and NZDUSD. In all those cases, sentiment is negative.