Alpari - Analytics

Alpari

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Daily analytical report (09/08/18)

  • EURUSD is still struggling with the bullish bounce after the price touched the long-term neckline. The upswing is very weak, reaching only the 38.2% Fibonacci. That is a great place to sell, especially now that the price is creating a head and shoulders pattern.
  • NZDUSD, after the dovish RBNZ, is falling like a rock. The price broke the lower line of the triangle and the horizontal support at 0.6725, which is a very negative signal.
  • NZD broke the lower line of the triangle, but the third instrument in this video did not – gold. Here, we are in a deep downwards trend and the price is still in this correction pattern. More recently, we bounced from the upper line of this formation and the horizontal resistance on the 61.8% Fibonacci. As for now, the price should be aiming lower.

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