The first instrument in the video is the NZDUSD, which on Monday bounced from the long-term down trendline. What is more, we do have a head and shoulders
The first instrument in the video is the NZDUSD, which on Monday bounced from the long-term down trendline. What is more, we do have a head and shoulders pattern here and the smaller pennant. We are very close to breaking the lower line of the pennant along with the mid-term up trendline. Once the price will close below, we will get a proper sell signal.
EURCHF decided to go down after failing to break the horizontal resistance on the 1.148. The price is breaking the horizontal support on the 1.14 and the lower line of the flag. Price closing below those two supports will be a proper sell signal.
The negative situation we have also on the Cable. The sell signal was triggered here on Monday when the price broke the lower line of the triangle. Yesterday we got a confirmation as the GBPUSD tested that line as the closest resistance. The test resulted with a drop so the sell signal is ON!
This article is written by Tomasz Wisniewski, a senior analyst at Alpari Research & Analysis
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.