Time for the big moves on the market! Powell ends the sideways trends on the USD

Hawkish Powell sends stocks and gold lower and the USD higher. EURUSD used this to break from the sideways trend. The price escaped from the symmetric triangle by breaking the lower line of it. The aim now is the support of the 1.2070. The negative scenario will be denied, once the price will break the resistance on the 1.228, which is now less likely to happen.

DAX is slowly recovering from this sell-off from the beginning of the month but it is not going well. At least not as good as in America. Index here is locked inside of the wedge pattern, which stopped going up on the 28,2% Fibo. As long as we stay below this level, the most probable scenario is the price breaking the lower line of the wedge and testing the 11900 points again.

GBPJPY is very close to creating a major sell signal. All we need for that is the breakout of the lower line of the wedge and the horizontal support on the 147.60. Once this will happen, we should get a sell signal for the 700 pips. Definitely something interesting in the long-term.

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