Forex

    EURUSD denies the H&S pattern. EURGBP with a buy signal

    10 days agoByTomasz Wiśniewski

    EURGBP bounces from the ultra-important support on the 0.875 and aims higher breaking the mid-term down trendline and coming back above the long-term up trendline. That should be perceived as bullish and the potential target for this movement is on the 0.902.

    EURUSD denies the huge head and shoulders pattern and after drawing the double bottom formation comes back above the neckline. That is bullish but for the buy signal, we need to see the breakout of the upper line of the flag formation.

    NZDSGD bounces from the 0.947 resistance and breaks the lower line of the wedge. That triggers a sell signal with the potential target on the 0.914, where are the lows from the end of the 2015 and the beginning of 2016.

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

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