Alpari - Analytics

Alpari

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Daily analytical report (09/04/19)

  • EURUSD has made a head and shoulders pattern. On Monday, the price broke the neckline of this formation and today, we defended this line as a closest support. In theory, that promotes a buy signal. The closest target is on the 38.2% Fibo. Chances that we will get there are pretty high.
  • Next one is gold, where the price is continuing the upswing started with the hammer on the neckline. We saw this hammer, we knew it increases the chances of an upswing, and we traded it. The price is going up and with that defence of the neckline, chances of a further rise are higher.
  • Last one is the AUDCHF, which managed to defend the long-term horizontal support. With that defence, the price started to make higher lows and highs, which can be perceived as the start of a new uptrend. Today, we are at the highest levels since mid-March and we have a great opportunity to reach the tops from the beginning of February.

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