Daily analytical report (29/08/18)

Alpari Market Review
Alpari Market Review

EURCHF is breaking the short-term neckline of the small H&S formation, together with the lower line of the mid-term wedge pattern. Those two factors are negative for this pair. In addition to that, EURCHF is bouncing from the long-term horizontal resistance. As long as we stay below the orange area, the sell signal is on.

On the other hand, we have a buy signal on EURAUD. The price is surging and just recently broke the ultimate horizontal resistance. This week started with a positive test of this resistance as the closest support. Currently, the price has been on the highest levels since the beginning of May, with a legitimate buy signal.

Lastly is NZDUSD, which is very close to creating a nice buy signal. For that, we need the price to climb 30 pips higher and to close the day above the 0.673. On the other hand, a breakout of the blue dynamic support will be a sell signal. However, we still need a bit of patience for this!

Click here to open an account at Alpari.