Traders Edge: Market Briefing 30/08/23

By Tomasz Wisniewski|

Published: August 30 2023, 05:46 GMT+0

Traders Edge: Market Briefing 30/08/23

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

  • EURUSD: Climbing back above the neckline of the triple top formation, effectively canceling the previous sell signal.
  • USDJPY: Experiencing a sharp reversal from its monthly highs, suggesting a possible bearish trend ahead.
  • USDCHF: Nearing the end of its rising wedge pattern, indicating a potential bearish breakout is on the horizon.
  • AUDJPY: Successfully breaking above the upper line of its wedge formation, signaling a buy opportunity for traders.
  • NZDUSD: Teetering on the edge of completing a double-bottom formation, almost triggering a buy signal.
  • Dow Jones: Making a decisive climb back above 34,500 points, providing a strong buy signal to the market.
  • NASDAQ: Nullifying the head and shoulders formation as it ascends toward its monthly highs.
  • DAX: Shattering the neckline of its inverse head and shoulders pattern while climbing back above its long-term uptrend line, marking a bullish move.
  • WTI Oil: Breaking free from its falling wedge pattern and targeting a price of $83 per barrel.
  • Brent Crude: Also negating its head and shoulders formation as it sets its sights on $88 per barrel.

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