Traders Edge: Market Briefing 17/05/23

By Tomasz Wisniewski|

Published: May 17 2023, 10:11 GMT+0

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).



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