FOMC minutes from yesterday provided USD with a boost, but the movement was not very volatile. Minutes stopped being Tier 1 data quite some time ago. Now, markets have other issues to be worried about. In this video, we have two pairs involving EUR and one with safe haven currencies.
First up is EURUSD. The pair created a nice inverse head and shoulders pattern on the H1/H4 chart. The neckline has already been broken and tested twice as the closest support. Both tests were positive for the buyers and gave us long tails on the H1 candles. The buy signal is ON, with the mid-term downwards trend line as the closest target.
EURNZD is the next pair, but the situation here is very similar. The pair is also creating an inverse head and shoulders pattern. The neckline (along with the 38.2% Fibo) was broken today and that gave some nice bullish momentum to buyers. The mid-term buy signal is ON.
Last pair is the CHFJPY, so a clash of the safe haven assets. Here, the pair broke the upper line of the symmetrical triangle pattern and the horizontal resistance around 110.3. After that, buyers successfully tested that as a support. Current price action tells us that we should expect a further upswing here and that is our outlook on this instrument.