Alpari - Analytics

Alpari

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Daily analytical report (10/03/17)

  • EURUSD waiting for the NFP but the current sentiment is positive. We are still in a sideways trend but the price is aiming for the resistance. The price is in an iH&S formation, which is also supporting the upswing.
  • As we are waiting for a trading signal on the EURUSD, it is already present on the EURGBP. Here we have a symmetric triangle formation, which was used for a bullish breakout. The closest resistance is 120 pips higher, which creates a nice mid-term trading opportunity.
  • The last instrument is CADJPY, where in the last week, the price created a false breakout pattern. After some time it finally resulted in an upswing, which managed to break the mid-term down trendline restricting the correction movement from the top. This allows for some positive sentiment here with a potential resistance 170 pips away.


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