Bullish and Bearish setup on the EUR!

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Published: Aug 29, 2018, 09:07 UTC

EURCHF breaks the short-term neckline of the small H&S formation, together with the lower line of the mid-term wedge pattern. Those two factors are

EURCHF breaks the short-term neckline of the small H&S formation, together with the lower line of the mid-term wedge pattern. Those two factors are negative for this pair. In addition to that, EURCHF is bouncing from the long-term horizontal resistance. As long as we stay below the orange area, the sell signal is on.

On the other hand, on the EURAUD, we do have a buy signal. The price is surging and most recently, broke the ultimate horizontal resistance. This week, started with a positive test of this resistance as a closest support. Currently, the price is on the highest levels since the beginning of May, with a legitimate buy signal.

The last one is the NZDUSD, which is very close to creating a nice buy signal. All we need for that is the price climbing 30 pips higher and closing a day above the 0.673. On the other hand, a breakout of the blue dynamic support will be a sell signal. For this, we still need a bit of patience!

This article is written by Tomasz Wisniewski, a senior analyst at Alpari Research & Analysis

About the Author

Tomasz Wiśniewskicontributor

During his career, Tomasz has held over 400 webinars, live seminars and lectures across Poland. He is also an academic lecturer at Kozminski University. In his previous work, Tomasz initiated live trading programs, where he traded on real accounts, showing his transactions, providing signals and special webinars for his clients.