EUR, AUD and JPY in Three Different Combinations

Today all eyes were on the Bank of England but traders who prefer more technical setups, without the interference from the fundamental side of the market should look on the following occasions. Today we have EUR, AUD and the JPY in three different combinations.

First one will be the EURAUD, which shows us that then EUR is much stronger and after breaking the 1.476 resistance the way for new local tops is opened. That breakout increased the momentum and now allows to break the upper line of the flag formation, which can be a very positive sign.

Next one will be the EURJPY, which is having a correction after the bullish breakout from the ascending triangle. We still have a potential to go lower in the short-term as the recent resistance was not tested yet as a closest support.

AUDJPY created two shooting stars in a row on a weekly chart. It also happened on a very important resistance. According to almost every book about the technical analysis that should be perceived as an extremely bearish sign and in this case we have no grounds to think otherwise.

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