EUR/USD Meets an Important Resistance
AUDJPY used the inverse head and shoulders pattern to come back above the long-term resistance on the 80.7. Later, the price created a flag pattern and used that to bounce from this level and climb higher making new mid-term tops. The sentiment is back to the positive one.
Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary. A Product Disclosure Statement (PDS) can be obtained either from this website or on request from our offices and should be considered before entering into a transaction with us. Raw Spread accounts offer spreads from 0.0 pips with a commission charge of USD $3.50 per 100k traded. Standard account offer spreads from 1 pips with no additional commission charges. Spreads on CFD indices start at 0.4 points. The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Gold is climbing higher and getting closer to test first important resistance on the 23,6% Fibo. All Fibonacci levels are additionally strengthened by the recent support/resistance levels. Positive sentiment is supported by the fact, that we are bouncing from the long-term up trendline.
WTI crude oil broke the neckline and the horizontal support around 66 USD/bbl. Now, we are testing these areas as a resistance. As long, as we stay below, the sentiment is negative and we should see a further decline.
EURUSD used the inverse head and shoulders pattern for a bullish reversal and reached an ultimate resistance. This is the 50% Fibonacci along with the long-term neckline. Most probably, sellers will use that area to open new shorts.
This article is written by Tomasz Wisniewski, a senior analyst at Alpari Research & Analysis