Market Technical Analysis – EUR/USD, AUD/USD and AUD/NZD

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Published: Mar 21, 2017, 12:17 GMT+00:00

EURUSD attacks the long-term neckline of the large iH&S formation that can be seen on a daily chart. Buyers seem strong and determined but for the

EURUSD attacks the long-term neckline of the large iH&S formation that can be seen on a daily chart. Buyers seem strong and determined but for the proper buy signal we need to see a price above the horizontal resistance on the 1.085
AUDUSD is also trying to pull the iH&S formation. The buying pressure is very high and the price stopped below an important long-term resistance. This can be a good place for taking profits but it looks just like a short stop and not a reversal point. 0.774 should be broken soon.
AUD is stronger not only against USD but in the pair with NZD too. Here we already broke the long-term down trendline and the buy signal is present. What is more the price is creating a very nice uptrend in the lower timeframes where we can spot three good looking flags. Previous two resulted with and upswing. We are still waiting for the third one to show us the direction, most probably up.

About the Author

Tomasz Wiśniewskicontributor

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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