Traders Edge: Market Briefing 17/05/23

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

• EURUSD continues to drop after escaping from the ascending triangle to the downside.
• SP500 is moving sideways, waiting for an impulse.
• DAX is performing slightly better, trading close to the long-term highs.
• CAC is defending a key horizontal support for the third time.
• AUDJPY is moving sideways inside a pennant pattern.
• EURGBP continues to trade below a key resistance at 0.873.
• A stronger dollar is hurting gold, which is on its way to testing the 23.6% Fibonacci level and the lows from April.
• USDJPY is approaching the upper line of the triangle formation, where we may witness a decisive breakout and a buy signal.
• GBPCAD has broken a key, long-term horizontal support and is aiming for the long-term up trendline (black).

Source: https://www.axiory.com/analytics/traders-edge/traders-edge-market-briefing-17-05-23