Alpari - Analytics

Alpari

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Daily analytical report (24/01/17)

  • Increased volatility for the sterling, but the GBP looks resistant to the final decision from the UK Supreme Court.
  • USD is firm today despite the suggestions from Mnuchin about the dollar being too strong and hurting the US economy.
  • NZD using the resistance from the ascending triangle as a new support now.
  • Gold is still in the ascending triangle formation but it looks like will get out soon with an upswing.
  • Brent oil cannot decide if it wants to follow the H&S pattern or the pennant. This is a good situation for price action traders using breakout strategies.

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