Today's Analytical Forex Report

Running length 00:28:54

  • Cable created two beautiful bearish patterns; a head and shoulders and a wedge. Both of them resulted in a downswing. The price is currently aiming at a very important support; the long-term upwards trend line. Any bullish reversal pattern should be a strong buy signal here.
  • USDCAD also created a head and shoulders pattern. The price has already broken the neckline and tested it as a resistance. For now, we’re still making lower lows and highs, which increases the likelihood of a further drop. Sentiment is negative.
  • Last instrument is the CADJPY, which has a very technical buy signal. We broke the mid-term downwards trend line, the neckline of the inverse head and shoulders pattern, and the horizontal resistance at 82.75. All of those resistances were later tested as supports. This is just a pure price-action masterpiece and we should see a further rise.


Disclaimer: Forecasts which are made in the review constitute the personal view of the author. Commentaries made do not constitute trade recommendations or guidance for working on financial ...

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