Traders Edge: Market Briefing 23/07/21

Today, we have few setups on more exotic instruments than usual.

There’s an excellent long-term setup on the CHFJPY, where we are finishing a bearish correction. The price is bouncing from the combination of a horizontal and dynamic support and everything seems ready for another bullish wave.

The AUDNZD is in a short-term sideways movement but with a long-term negative outlook.

The NZDCHF is in a perfect flag formation. For the buy signal, we need to see the breakout of the upper line of this pattern.

The NZDJPY is in a similar situation but here we additionally have a bounce from the horizontal support. The sentiment is positive.

Silver uses every chance to go lower. Currently, we are testing the long-term support of a symmetric triangle. The outlook is rather negative.

The dollar Index broke the neckline of the giant inverted Head and Shoulders pattern and yesterday it defended it as a support with a hammer candle. That is definitely a positive and optimistic sign for buyers.