Alpari - Analytics

Alpari

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Daily analytical report (11/04/18)

  • First up today is the EURUSD pair, which is having its third consecutive green session after creating a bullish engulfing pattern on the long-term upwards trend line. That was a great buying opportunity. The target is the 1.2530.
  • CADJPY created a beautiful reversal with an inverse head and shoulders pattern and thanks to that, has already managed to retrace more than 38.2% of the recent drop. That Fibonacci line will be now the closest support. Sentiment is positive.
  • WTI bounced from the long-term upwards trend line and is aiming at the horizontal resistance. What we have here is an ascending triangle pattern, which in theory should result in a bullish breakout and a further price jump.

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