Daily analytical report (14/03/17)

2017-03-14T15:13:51
  • EURUSD is about the test one of the most important principles of price action trading; that a broken resistance becomes a support. At first reaction we can see some demand but it is not yet significant enough to trigger a full buy signal.
  • On the other hand the buy signal on the EURGBP is present and is doing great. After a bullish breakout from the symmetric triangle, the price is still heading higher and is very close to the first important horizontal resistance, which should be tested soon.
  • AUDUSD is trading very technically, making its fourth trend continuation pattern in a row. As long as we stay below the mid-term down trendline, the sentiment is negative with an interesting trading opportunity and a good risk to reward ratio.

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