Alpari - Analytics

Alpari

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Daily analytical report (11/04/17)

  • EURUSD bounces from the lower line of the long term wedge formation, which creates a short-term occasion for a bullish correction. Overall sentiment remains negative. After a small bounce, we should see a breakout of that support.
  • AUDUSD broke an important mid-term support but the breakout is not very convincing. The price is not heading lower and has failed to make lower highs and lows. So far, we are testing the recent support as a closest resistance and chances that we will come back above are quite high.
  • AUDNZD bounced from the long-term neckline, which is very positive for buyers. They are above the down trendline and above the neckline. This is a perfect environment for a further upswing. After a hammer on Friday, we had some troubles yesterday. Today, though, everything looks much better and that is most probably the end of the short-term correction.


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