Alpari - Analytics

Alpari

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Daily analytical report (11/04/19)

  • The technical situation on AUDUSD is also promising. The pair broke the upper line of the symmetrical triangle formation and the long-term downwards trend line. That is definitely a very positive sign and an invitation to a long-term buy signal.
  • USDCHF went higher again despite a nice bearish setup. Today, the price is testing last two crucial resistances: the upper line of the flag and the neckline of the triple top formation. A bullish breakout will give us a buy signal. A signal to go short will be triggered if we break the lower line of the flag but that seems unlikely to happen at the moment.
  • EURUSD now has only two areas that really matter. The first one is the horizontal resistance on the 38.2% Fibonacci. A breakout of that level would give us a buy signal. Second is the dynamic support created by the lower line of the wedge. EURUSD going below that line will be an invitation to sell.

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