Alpari - Analytics


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Daily analytical report (31/08/18)

  • Gold is cancelling the mid-term sell signal that was coming from the breakout of the lower line of the flag and the H&S formation. Instead of that, we have an interesting rise at the beginning of the European session, driven by the smaller wedge pattern. It will be a strong buy signal if the price closes the day and the week above the green area.
  • GBPUSD is about to test the crucial long-term resistance for the second time. As long as we are below, the sell signal is more probable here. The horizontal resistances are additionally supported by the mid-term downwards trend line.
  • FTSE broke the lower line of the wedge and went lower to test the super important horizontal support again. If the price closes below the grey area it will be a significant signal to open a short position. As long as we stay above, buyers still can have hope.

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