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Daily analytical report (16/05/17)

  • The new week brings with it a weakening American dollar, which can be seen on almost all pairs. This will help various commodities to climb higher.
  • EURUSD had a great day on Friday, but the optimism doesn't stop there and continues into this week. The price failed to close the French elections gap and bounced of the first horizontal support. Now we have three strong bullish daily candlesticks, which in the mid and long-term promote buyers.
  • EURAUD is also looking great. Here, we have an iH$S formation and a flag. Both are giving out buy signals as the upper line of the flag and the neckline were already broken.
  • Silver could have its fifth bullish day in a row. We also managed to come back above the up trendline. That is optimistic but there is no buy signal yet. The daily candle has to close above the 16.85 to trigger that and unfortunately the first try was unsuccessful.

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