Alpari - Analytics

Alpari

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Daily analytical report (03/11/17)

  • Mixed data (lower unemployment rate and NFP) caused a mixed reaction on the market. The USD rate initially dropped in reaction to the news, but quickly recovered after a few minutes. Now the dollar looks firm and the previous signals are still alive.
  • The US dollar index defended the lower line of the wedge and is now attacking its upper line. A breakout here should strengthen the current buy signal, which we recently received after the price broke the neckline of the iH&S formation.
  • EURUSD is still inside the bearish flag formation and has defended the neckline with a shooting star candlestick formation for the second time. This is very negative and brings us a nice sell signal on this instrument.
  • NZDSGD is an unusual instrument for our video but we have a good price action setup here. After a strong drop and a breakout of a long-term support, the price is now reversing and testing it as the closest resistance. Any bearish price action pattern would provide a strong sell signal here.


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