Daily analytical report (26/07/17)

2017-07-26T19:00:42

26 July

In light of the loomin FOMC meeting, we have three nice setups for you.
First up is the AUDUSD, which is in a long-term up trend after breaking the upper line of the symmetrical triangle. We have a local correction here, which is a rectangle. This suggests a further upswing, especially since we just bounced from the lower line of this formation.
The second one is the GBPJPY, which is back above the local support again. The movement is driven by the inverse head and shoulders pattern and the main trend. Sentiment is positive and with that breakout above the horizontal support we have a buy signal here.
Lastly, we have USDMXN, which is creating a shooting star on the daily chart. The formation itself shouldn't be the only reason to go short. Here, the localization is important. It happens on a local resistance and the 38,2% Fibonacci. That makes it a decent trading occasion.