Dollar weaker again. Signals on EURUSD and USDJPY are triggered! Gold with new highs

Yesterday we mentioned EURUSD and USDJPY, where we had sideways trends closed inside the symmetric triangles patterns. When the price is inside, that is the worse place to make a trade. In that cases, you just have to be patient and wait for a breakout, which usually triggers a proper trading signal. That is actually what happened here. EURUSD broke the upper line of the triangle and went higher, triggering a mid-term buy signal. USDJPY broke the lower line of the same formation and went significantly lower signaling us a willingness to go much lower in the next few days. Both movements were very technical and pleasant for the price action fans.

We can also see a breakout of Gold. It is happening now, as we speak. The thing is, that for the legitimate signal, we need to see the H4 candle closing above the highs from the mid of January. With the current sentiment towards the USD, it is totally doable.

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