Thursday brings us nice movements on some of the most popular instruments on the market. Traders should definitely be happy that after a long time of waiting, they can finally open proper trading positions.
First we have EURUSD, where the price broke the mid-term downwards trend line and the horizontal resistance. Now, we can expect a small pullback, but in general, sentiment is positive and in the next few weeks, we should see a further upswing.
Bitcoin is experiencing quite the opposite situation. Here, buyers had a chance for a rise after the price formed the inverse head and shoulders pattern. Today, the price definitely bounced from that line, which indicates the bullish failure. The road towards 2,900 USD seems open.
Lastly we have CADJPY, where there’s a proper buy signal after the V-shape reversal and a false breakout below the neckline of the H&S pattern. With today’s drop, the risk-to-reward ratio of this trade is getting better, which for swing traders.