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Daily analytical report (13/04/17)

  • Save heaven assets continue their up trend with additional support from POTUS's comments that USD is too strong (and we all know that safe heaven assets like Gold or Silver are quoted in USD).
  • Gold beat a very important resistance yesterday - the dynamic one connecting long-term lower highs. The second one, crucial for the long-term situation is 20 USD away and is a horizontal resistance (grey). We are still making higher highs and lows and the chances that the price will get there soon are relatively high.
  • We also have Silver, which also broke the down trendline connecting recent lower highs and has already used that as a support. They are one point ahead of the gold but they still have to deal with the horizontal resistance, which will probably happen today as they are trying to break it as we speak. What is more, we have an inverted head and shoulder pattern here, which increases the chances of an upswing.
  • EURJPY broke the lower line of the long-term flag and according to the technical analysis it should be heading south in the next few weeks.

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