Daily analytical report (11/07/18)

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Alpari Market Review
Alpari Market Review

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We start with a nice, clean, technical setup on the CADCHF pair. The price bounced from the 38.2% Fibonacci and broke the lower line of the bullish correction. This would be a great sell if not for the BoC decision later today. Movements after the decision and statement are impossible to predict, which makes this setup very risky at the moment.

NZDCHF is giving out a very nice sell signal. The price broke the lower line of the flag, creating a head and shoulders pattern at the top of this formation. Today, the price is going lower, confirming the sell signal.

NZDUSD went back into a downtrend after flirting with the horizontal resistance. It looks like the green line has been rejected and we should see a further decline.

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