Alpari - Analytics


861.25 6.25/10
73% of positive reviews

Daily analytical report (25/04/19)

  • We will start with EURUSD, where after two flags, the price broke the ultimate support at 1.118 (yellow).  That breakout sorts out the sell signal for the next few weeks. We’re currently witnessing a short-term bullish correction, but this is a rather typical price action movement whereby by the newly broken support is tested as a resistance. As long as we are below the yellow area, the sentiment is negative.
  • Next up is the DXY, which finally made use of the big ascending triangle pattern. We saw this pattern in March and since then, our view on the DXY has been bullish. From a technical point of view, the recent upswing is driven by the price bouncing from the lower line of the triangle and the small flag. As long as we are above the purple resistance, the buy signal is ON.
  • Last up is AUDUSD, where the price is under the influence of the false breakout from the symmetrical triangle pattern (and the major downwards trend line). The price reversed sharply with a great deal of help from the low CPI figures from Australia. Currently, the drop is taking a break on the lows from March but in my opinion, sellers did not finish here and they should come back to the market soon.

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