Alpari - Analytics

Alpari

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Daily analytical report (23/11/17)

  • The USD had been following the technical forecasts on several instruments before the dovish FOMC minutes induced a reversal. This is what happened with the EURUSD pair, for example, which is now aiming for 1.186, which looks to be a very strong resistance.
  • AUDUSD used the correction equality pattern and a long-term upwards trend line to climb higher. The price is currently testing the 38.2% Fibonacci and the mid-term downwards trend line. A bullish breakout here could trigger a buy signal for around 120 pips.
  • NZDUSD recently made new yearly lows but failed to hold the price below a very important resistance. This creates a chance of a reversal, especially since we denied the bearish flag and broke the mid-term downwards trend line. Short-term sentiment is positive.


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