Daily analytical report (18/07/18)

Alpari Market Review
Alpari Market Review

GBP has slid further following fresh CPI data from the UK. With regards to the GBPCAD pair, this helps to break the long-term upwards trend line and the lower line of the rectangle. That is a strong sell signal.

The AUDJPY pair created two shooting stars on the daily chart, and a head and shoulders formation has appeared on the H4. We’ve already broken the neckline and the sell signal is ON.

The USDCAD pair created an inverse head and shoulders formation on the long-term upwards trend line. As the neckline was already broken, this has created a good buying opportunity.

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