Three great trading setups on EURUSD, Gold and NZDSGD

EURUSD is continuing a very technical way of trading. After bouncing from the neckline and breaking the lower line of the flag, the price continues to decline. Today, we managed to make new mid-term lows and it does not look like we are about to stop.

Gold used the ultra-important mid-term support (green area) for a bounce. Buyers even managed to break the mid-term down trendline (red) but the stopped on the 50% Fibonacci. As long as we stay above the red line the sentiment is positive but the buy signal will be triggered once we will break the upper green area (50% Fibo).

NZDSGD is moving very technically. The situation is similar to this one on the EURUSD. We broke an important long-term support and now we are testing it as a resistance. The only difference is that it is not a neckline and the reversal movement here is locked inside of the wedge, not a flag. Breakout of the lower line of this formation should trigger a sell signal.

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