Alpari - Analytics

Alpari

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Daily analytical report (12/04/17)

  • Tensions over Syria and North Korea gave the fuel for some nice movements on a few instruments, which were also supported by the lower liquidity – a factor that usually makes movements a little bit exaggerated.
  • Gold spikes above the 1260 USD/oz. It also managed to reach a crucial long-term resistance – the line connecting major lower highs. First contact is bearish, the price is creating a shooting star candlestick. Despite that, the general sentiment remains positive.
  • EURJPY broke the lower line of the flag formation. That triggers a strong sell signal. The price, at the same time, broke a short-term horizontal support and used it as a resistance. A beautiful display of price action trading.
  • Cable broke the upper line of the wedge and is on the best path towards reaching the upper line of the symmetric triangle formation. We should get there in the next few days.


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