Alpari - Analytics

Alpari

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Daily analytical report (12/12/17)

  • First up is the NZDUSD, which is going higher, driven mostly by the false breakout pattern that occurred at the end of last week. Buyers are also supported by the inverse head and shoulders pattern. Buy signal is on as the neckline is already broken.
  • Next up is the EURGBP, which is also having a false breakout scenario here. The price attacked and broke through 0.875, but went higher and came back into the range a few hours later. Yesterday’s candlesticks gave us higher highs and lows which is strongly supporting the positive sentiment here. The closest target is the 0.9 resistance.
  • Last up is EURUSD, which is confusing traders a little bit as on Friday, the daily candle was a hammer, and on Monday; a shooting star. That gives us opposite signals. For a legitimate trading opportunity we have to wait for a breakout either of the 1.181 resistance or the 1.173 support.


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