USD comes back to the game

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Published: Sep 5, 2018, 09:02 UTC

EURUSD tested the 1.153 support! That is a crucial line for the long-term situation on the chart (neckline of the huge H&S formation). A test was

EURUSD tested the 1.153 support! That is a crucial line for the long-term situation on the chart (neckline of the huge H&S formation). A test was positive for the buyers as the price bounced and went 80 pips higher creating a long tail on the daily candle. This optimism is not kept today as the price is about to test this support again. Price closing a day below that level will be very negative.

USDCAD with a beautiful buy signal. The price bounced from the upper line of the wedge formation and went higher. After this, we got a bullish flag formation. Most recently, we broke the upper line of this pattern. In addition to that, yesterday, the daily candle broke the horizontal resistance on the 1.317 – that is a strong buy.

GBPJPY continues the downswing after the price bounced from four important resistances. That is a very strong sell signal. Yesterday, buyers tried a small reversal but the beginning of the day brings us a decisive drop. No hopes left.

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

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.