Traders Edge: Market Briefing 16/08/23

In today’s Trader’s Edge Market Briefing, Tomasz has identified the following unique setups that may catch your interest:

• EURUSD: Trading lower, nearing monthly lows after breaking the mid-term uptrend line.
• USDJPY: Settling comfortably above the 145 resistance level.
• S&P 500: Breaking its mid-term uptrend line and heading lower after a bleak session yesterday.
• Dow Jones: Targeting a critical horizontal support level at 34,500 points.
• NASDAQ: Continuing its downward journey within a flag formation.
• DAX: Engaged in a pivotal battle at the 15,700 points mark.
• NZDUSD: Potentially initiating a bullish correction following the interest rate decision from New Zealand.
• Gold: In the midst of a decisive standoff at the $1900 horizontal support level.
• WTI Oil: Trending lower after the false breakout above the $83 per barrel resistance.
• Brent Oil: Declining following a rejection at the key horizontal resistance level of $88 per barrel