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EURUSD ready to go down again. The same with NZDUSD and Gold

By:
Tomasz Wiśniewski
Published: Aug 9, 2018, 09:22 UTC

EURUSD is still struggling with the bullish bounce after the price touched the long-term neckline. The upswing is very weak and reached only 38,2%

stock data

EURUSD is still struggling with the bullish bounce after the price touched the long-term neckline. The upswing is very weak and reached only 38,2% Fibonacci. That is a great place to sell, especially that the price is creating a head and shoulders pattern.

NZDUSD after the dovish RBNZ is falling like a rock. The price broke the lower line of the triangle and the horizontal support on the 0.6725, that is a very negative signal.

Kiwi broke the lower line of the triangle but the third instrument in this video did not – Gold. Here we are in a deep downtrend and the price is still in this correction pattern. Most recently, we bounced from the upper line of this formation and the horizontal resistance on the 61,8% Fibonacci. As for now, the price should be aiming lower.

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

About the Author

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.

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