Daily analytical report (04/05/18)

Alpari Market Review
Alpari Market Review

We start with the EURUSD, which is in a legitimate downtrend. The price is making lower lows and highs and is trading below a very clean downwards trend line. Most recently, the price has created a pennant and is currently trying to break its lower line. Better data should definitely help here.

Next up is oil, which is in a legitimate uptrend. We’re seeing some beautiful trend continuation patterns; the latest one being a flag. A breakout of the upper line of this formation should trigger a buy signal.

Last up is bitcoin, which also is under the influence of a trend continuation pattern; in this case a pennant. BTC has already broken the upper line of it so a buy signal is forthcoming with the target at 11,200 USD.

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