Alpari - Analytics

Alpari

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Daily analytical report (15/03/17)

  • EURUSD broke an important support yesterday, but today it's trying to erase this mistake and is pushing higher. Buyers can hope that it had a bigger plan of making a correction equality pattern. We should not expect any significant movements before the FOMC, after that, technical analysis will step aside.
  • Brent Oil bounces from the 50% Fibonacci creating an opportunity for sellers to open new shorts with higher prices. Why sellers? Well that's what the main trend is and the recent breakout from the symmetric triangle created a bearish sentiment in the mid-term.
  • DAX defended a very important local support yesterday, so there is no chance of a sell signal yet. As long as we stay above the 11920, the sentiment will be positive. Breaking that level can trigger a sell signal but we all know that going against the trend on indices has been very risky recently.

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