Traders Edge: Market Briefing 20/08/21

In today’s Traders Edge Market Briefing, Tomasz found these amazing setups we thought you’d find interesting!

The SP500 bounced off a crucial long-term up trendline but once again the new day starts with a drop. I guess that sellers won’t give up that easily.

The DAX stayed below the 15800 level. As long as it stays below, the sentiment is negative.

Gold is continuing the upswing but it would have been much easier if the USD wasn’t so strong.

WTI Oil keeps dropping. As long as it stays below the 66.8 USD/bbl, the sentiment is negative.

The EURUSD continued the downswing after the price broke the neckline of the big Head and Shoulders formation.

On the other hand, the GBPUSD is still above the neckline but it surely is aiming for it.

The USDCAD is aiming for the 38,2% Fibonacci, where we can expect at least a small pause.

The EURCAD broke the neckline of the inverted Head and Shoulders pattern. Sentiment is definitely positive

The AUDCAD is declining, locked inside the wedge pattern. A comeback above the 38,2% Fibonacci can be a great buy signal.