Alpari - Analytics

Alpari

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Daily analytical report (24/10/18)

  • First up in today's video is NZDUSD, which on Monday bounced from the long-term downwards trend line. What is more, we have a head and shoulders pattern here and a smaller pennant. We are very close to a breakout of the lower line of the pennant along with the mid-term upwards trend line. We will get a proper sell signal once the price closes below.
  • EURCHF decided to go down after failing to break the horizontal resistance at 1.148. The price is breaking the horizontal support at 1.14, and the lower line of the flag. We will have a proper sell signal if the price closes below those two supports.
  • We also have a negative situation on the Cable. The sell signal was triggered here on Monday when the price broke the lower line of the triangle. Yesterday we got confirmation as GBPUSD tested that line as a close resistance. The test resulted in a drop so the sell signal is ON!

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