Alpari - Analytics

Alpari

748.25 6.25/10
72% of positive reviews
Real

Daily analytical report (01/09/17)

  • Everybody likes Fridays, especially Nonfarm Payrolls Fridays. With increased volatility and significant trading signals, it’s a great feast for traders. Ahead of the NFP, USD is weaker and stocks are heading higher.
  • Yesterday, the DXY made an attempt to break the mid-term downwards trend line and the horizontal resistance created by the neckline of the H&S formation. Contact with that area resulted in a false breakout and a strong reversal. With that, the sentiment remains negative.
  • Gold bounced sharply yesterday using the 1300 USD/oz level and a correction equality pattern.
  • A correction equality pattern was also used on the EURUSD, which climbed higher, also using a 61.8% Fibonacci and the neckline of the iH&S formation. Sentiment is positive.
  • The positive outlook on the EUR also extends to the EURJPY, where we have an upwards trend with a small flag. This suggests that after the small correction currently taking place, we should continue to climb higher, especially after defending the 130.9 support.


To leave a comment you must be or register

By visiting our website and services, you agree to the conditions of use of cookies. Learn more I agree