Alpari - Analytics

Alpari

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Daily analytical report (21/02/18)

  • If it was all about gold, the time to end the correction would be right now. XAUUSD is creating a hammer candlestick on the upwards trend line and the horizontal support at 1,324 USD/oz. This is a very good place to start another bullish wave on this precious metal.
  • EURUSD could take a bit longer. Here, we are 20 pips away from a major support created by the upwards trend line and the horizontal area around 1.229.  A bullish candlestick formation here would be a strong buy signal.
  • USDJPY may also need to wait a bit longer. Here, we are about 60 pips away from the mid-term downwards trend line and the major horizontal resistance at 108.3. Any kind of reversal pattern in that area would provide a great bearish opportunity.


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