Alpari - Analytics

Alpari

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Daily analytical report (02/03/18)

  • USDCHF tested the ultra-important resistance around 0.945 for the second time. This time, the price created a daily shooting star pattern, which is a very negative sign for buyers. Today, we have a confirmation of the bearish sentiment and the price is making lower lows and highs.
  • EURGBP is very close to ending the super boring sideways trend seen here since December. We are one candle away from breaking the long-term downwards trend line along with the horizontal resistance at 0.892. For a buy signal, we need to see the price closing Friday above the blue area.
  • DAX may be in serious troubles. The price has already reached the 11900-point support, while their American counterparts still have a way to go. This means that if the US stock market continues to decline, the DAX could break this support, which could open the portal to the underworld. The price closing below the red area would be a major sell signal for this and other European indices.

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