Alpari - Analytics

Alpari

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Daily analytical report (25/09/18)

  • Yesterday EURUSD hit new mid-term highs, but the pair is getting dangerously closer to creating a bearish reversal pattern. Currently, the price is trying to create a head and shoulders formation or a triple top. Despite nice upswings, we also have strong reversals. This is all happening on a very important dynamic horizontal support. A breakout of those two could bring us a proper sell signal.   
  • AUDUSD is testing the recent broken neckline as a close support. If buyers want to continue the upswing, they have to defend this line. Should the price fall and close the day below this line, it would be sign of a false breakout and a sell signal. Especially considering we just bounced from the long-term downwards trend line.
  • GBPNZD bounced from the upper line of the symmetrical triangle and the 50% Fibonacci. That looks very promising. Today, the price is climbing even higher, which increases the chances for a further rise. Market sentiment is positive.

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