Alpari - Analytics

Alpari

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Daily analytical report (15/11/17)

  • EURUSD continues the upswing. Yesterday, we broke the neckline and the upper line of the flag, which triggered a buy signal. Today is just a continuation of that. Long-term sentiment is definitely positive, but after such a strong upswing, there is a chance of a small bearish correction aiming at least towards 1.1730
  • After the huge optimism on oil that we saw in October, it is now time to relax a little bit and take profits from the recent upswing. After beating the tops from the end of 2016 and beginning of the 2017, the price is now testing those levels as a support (grey). So far, we do not see any demand there but the day has not ended yet.
  • Last up is the exotic USDPLN, which recently had two options. It could have used the inverse head and shoulders to climb higher or the wedge to go lower. The price broke the lower line of the wedge, which triggered a sell signal. That is in line with the long-term sentiment present from the beginning of the 2017.


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Number of comments: 1
  • Samantha Sam
    • #

    euro benefits from strong economy, the decline of political risks and the growing prospects for the normalization of monetary policy by ECB


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