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Daily analytical report (29/03/17)

  • EURUSD cannot hold the optimism from Monday and closes the gap falling below the 1.0840 support. We are about to test the neckline and the mid-term up trendline. As long as we stay above those two, the sentiment is still positive.
  • Silver has done all right in the second half of March. We are very close to the neckline of the iH&S formation and we should test it as the closest resistance soon. That can be a good place for sellers to trigger a short term bearish correction here. Chances of a bullish breakout straight away are rather limited.
  • USDPLN has reached the long-term up trendline, where we finally stopped having a small bullish correction. Although it could be a good place for a reversal, we think that there is a big chance of a further downswing and making a third, similar, bearish impulse ~ 4500 pips (blue rectangles).

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