Alpari - Analytics

Alpari

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Daily analytical report (25/01/18)

  • Mnuchin sank the US dollar with his comment that a weaker currency is good for trade. This helped the USDCAD pair break the mid-term horizontal support, which was a part of the sideways trend locked inside of the rectangle. That opens the way for the new yearly lows. Soon, we should test the lowest point from 2017.
  • NZDUSD reached an ultra-important resistance at 0.74 but failed to break it. The reason for that was the weaker CPI data from New Zealand. We are still above the long-term upwards trend line but there’s an increased risk of a bigger correction.
  • FTSE is giving providing an opportunity to the traders who missed the original breakout of the upper line of the triangle. That resistance was broken some time ago but we still haven’t had a chance to test it as the closest support. Now this chance is rising and any bullish price action pattern in the red area should be a good trading signal.


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