Alpari - Analytics

Alpari

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Daily analytical report (24/11/17)

  • Yesterday, the EURUSD pair made a quick stop below the 1.1860 resistance and today, buyers launched an attack. It seems to have been successful as the price has gone much higher, but for the final outcome, we need to wait till the end of the day. Nonetheless, sentiment remains positive and with the new mid-term highs that we made today, the recent buy signal has been confirmed.
  • The next occasion on the Forex market’s Black Friday is the EURJPY, where the price broke an important mid-term support two days ago. The thing is that sellers couldn’t keep the price down and now we’re above the support again. That creates a false breakout pattern, which in this case is a strong bullish sign.
  • The GBPUSD pair, after making a triangle, made a pennant and a wedge. All those formations were bullish and resulted in an upswing. The current sentiment is positive despite the fact that we are still below the 1.333 resistance. Looking at the current price action, a bullish breakout seems imminent.


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