Three Great Trading Setups and no Signs of Brexit in Them

Probably you already have enough. Actually GBPUSD too, as the price is mostly ignoring the news from London. Yes, ignoring as yesterday’s movement for 100 pips is for this pair nothing. In history, we saw stronger movements without any reason whatsoever, so I think that currently, GBPUSD is pretty resilient to the news from Downing Street.

So if not the Pound than what? EURUSD! The pair reached crucial horizontal support and made a small bounce, which has a chance to create a hammer on the daily chart. If that hammer will be eventually created, that will be a good occasion for a short-term buy. If not, the breakout and the continuation of the downtrend will be still on the table.

Next instrument is the AUDUSD, where the price already started to make lower highs, which can be the start of a new downtrend. To witness a sell signal, we need to wait for the breakout of the 0.707 support, which got recently defended. The price closing a H4 candle below that area will be an invitation to go short.

The last one is DAX, which seems to definitely defend the long-term horizontal support. That would mean that at the end of the last week we witnessed a false bearish breakout, which would be a piece of very good news for the buyers as that usually promotes the movement in the opposite direction.

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