Alpari - Analytics

Alpari

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Daily analytical report (14/11/18)

  • EURUSD is currently testing the broken psychological support at 1.13 as the closest resistance. This movement is quite typical for the Forex market and is a normal type of a price action. The first contact with the resistance resulted in a bounce, but it looks like buyers will give it a shot one more time. General sentiment remains negative.
  • CADCHF is in a small triangle inside of a bigger one. So we are in the worst place to trade in – the middle of a giant sideways trend. We are in a bad place now, but that could change for the better very soon. The breakout of the lower line of the smaller triangle will give us a proper sell signal. We are very close to seeing this.
  • WTI oil, just wow. The price dropped like a rock. Now we are on the last important support. This is the 61.8% Fibonacci and the resistance from late 2016 and early 2017. Sentiment is negative, but we should get at least a small bounce there; normal profit taking action, nothing serious.

 


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