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EDGE Chart of the Day – DXY – (February 24th, 2025)
The DXY is testing a key confluence zone at 106.35, where the descending wedge trendline support aligns with the 38.2% Fibonacci retracement of the last bullish leg. This level is pivotal in shaping the next trend direction.
EDGE Chart of the Day – Silver – (February 18th, 2025)
Silver continues to test the key $32.50 resistance level, a pivotal area that has held firm over the past couple of weeks. So far, bulls have struggled to break through, leaving two potential scenarios moving forward:
EDGE Chart of the Day – SPX500 – (February 17th, 2025)
The S&P 500 (SPX) is breaking higher once again, pushing into uncharted all-time high (ATH) territory. The next upside target stands at 6,193, which corresponds to the 127% Fibonacci extension of last year’s pullback.
EDGE Chart of the Day – USDJPY – (January 27th, 2025)
The USD/JPY is attempting to break below the ascending wedge formation today, a pattern that has been in play since late summer. This wedge has provided structural support for the pair’s upward movement, but a decisive break to the downside would signal a notable shift in market sentiment, turning the outlook bearish.
EDGE Chart of the Day – EURUSD – (January 21st, 2025)
The EUR/USD has encountered resistance at the descending channel’s trendline near 1.0425, following yesterday’s strong rebound. This channel has defined the pair’s downward trajectory since last August, underscoring its technical significance.
EDGE Chart of the Day – Nasdaq – (January 20th, 2024)
The NASDAQ has spent the last 1.5 months consolidating in a symmetrical triangle. We are currently testing the triangle’s T/L resistance.
EDGE Chart of the Day – Nasdaq, Reversal Update – (December 20th, 2024)
The NASDAQ 100 reversed lower after first creating a short term overthrow to the ascending wedge. This is something we often see happen in wedge formations, first trapping the bulls (or bears) and then reversing in the other direction with momentum.
EDGE Chart of the Day – XAUUSD – (December 17th, 2024)
The rebound that started in November has lost its upside momentum and gold is now testing again the ascending T/L support at $2645.
EDGE Chart of the Day – Nasdaq – (December 13th, 2024)
The NASDAQ 100 has been on a tear, appreciating non stop since August.