Alpari - Analytics


861.25 6.25/10
73% of positive reviews

Daily analytical report (16/02/18)

  • The end of this week is very calm; traders are still digesting the US CPI data. In fact, we are digesting the market's reaction to the CPI. The chances of further rate hikes have gone up, but at the same time, the value of the USD has decreased. That is not what they teach us at schools. Anyway, we were expecting a weaker dollar before the data release as that was the signal from the charts - technical analysis at its finest.
  • EURUSD broke the resistance at 1.2510-20 (orange) and made new long-term highs. At the beginning of the European session, we are testing that area as the closest support. A bullish bounce would be a good buy signal.
  • AUDCAD continues its path towards the parity. The bullish momentum is being driven by the inverse head and shoulders pattern, which was formed in the first half of February.
  • Bitcoin has stopped its bullish correction for the time being. This is not a random occurrence as it all happened at 10k USD. We thought that BTC could climb at least to the 11k USD resistance (with a downwards trend line), but maybe that is too much for bitcoin traders, who got a painful trading lesson at the end of the 2017.

To leave a comment you must or Join us

By visiting our website and services, you agree to the conditions of use of cookies. Learn more
I agree