Traders Edge: Market Briefing 18/10/23

By Tomasz Wisniewski|

Published: October 18 2023, 09:13 GMT+0

Traders Edge: Market Briefing 18/10/23

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

  • EURUSD: Creating right shoulder of an inverse head and shoulders pattern; attempting to break out of the channel down formation.
  • USDCHF: Breaking the long-term uptrend line and marking new local lows.
  • Dow Jones: Targeting a key resistance level at 34,500 points.
  • Nasdaq: Trapped between the upper boundary of the wedge pattern and a horizontal support at 14,900 points.
  • NZDUSD: Teetering above a crucial horizontal support at 0.586; a breakout below would signal a selling opportunity.
  • GBPCHF: Experiencing a downward trajectory after breaking free from its long-term lateral movement.
  • Gold: Achieving new monthly highs, post its breakout from the channel down formation.
  • Silver: Tallying new monthly highs after a strong rebound above its uptrend line.
  • Oil: Trending upwards, driven by the ongoing geopolitical unrest in the Middle East.

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