Alpari - Analytics


859.25 6.25/10
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Daily analytical report (29/05/18)

  • GBPJPY has been on our radar for a while now. We were expecting the price to drop and that is exactly what is happening. This provides us with a very nice technical setup. The price has broken all major supports and is currently in freefall mode; on its way back to the long-term downtrend. Potential profit is huge!
  • Bitcoin is having a rough May and the price is declining sharply. Currently, we are about to test the lower line of the symmetrical triangle pattern, which may, but does not have to, bring us a small bounce. A breakout here will send BTC to the long-term horizontal support at the psychological barrier of 6,000 USD.
  • USDCHF broke the upper line of the flag in the uptrend. This is bullish, especially given that before it happened, the price created a triple bottom formation on a horizontal support, slightly above the upwards trend line. This all hints at potential strength and sets an optimistic course for the future.

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