Welcome after Christmas!
The last week in 2017 we start with the continuation of the mid-term trends. First, we start with the EURUSD, which is using a fourth flag in a row to create another bullish upswing. The target, for now, is the line connecting recent crucial lower highs, which makes it a decent opportunity for swing traders.
Another positive sentiment can be seen on the AUDUSD, which is going higher driven by the bullish breakout from the pennant formation. Everything looks very good for the buyers with the potential target on the 0.777.
The last one is Gold with a very interesting situation. Apparently, the sell signal from the beginning of December is denied. The price did not defend the latest supports as the resistance and went back inside of the triangle. That is a typical false breakout pattern which can result in a major buy signal on the XAUUSD.
This article is written by Tomasz Wisniewski, a senior analyst at Alpari Research & Analysis