New Week Starts With Gentle Correction on the Major Indices
Major Financial Markets Technical Analysis
Last week ended with a small correction on indices. The SP500 didn’t manage to hold above the 4590 points but the long-term bullish trend remains intact.
DAX also enters the correction phase. Small head and shoulders underway. A bigger correction can start when sellers break the neckline.
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EURUSD continues trading inside of the flag pattern. Soon, sellers should be able to test the lower line of this formation.
EURGBP drops after failing to secure the neckline of the iH&S formation.
USDJPY has a dangerous shooting star on a crucial resistance. Despite that, buyers remain strong.
Gold continues trading sideways. Symetric triangle emerges so we have to wait for the breakout.
Brent Oil also stays inside of the triangle. Currently, we’re testing its lower line, so a breakout is possible.
The same goes for CHFJPY, but here the breakout is really close, and could possibly happen today.
Traders Edge: Market Briefing Video 04.04.22
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