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Daily analytical report (09/08/17)

  • After many days of low volatility, we have finally seen some bigger movements on global stock exchanges, especially on the American one. North Korea and Trump are to blame here. In this situation, we’re in risk-off mode on the market and traders are escaping to safe haven assets like gold, CHF, JPY and... USD. Today we will show you the same instruments as yesterday as all of them moved in the direction expected by the Alpari Team.
  • First up is gold, which broke the upper line of the bigger flag formation and triggered a mid-term buy signal. The closest support is now at 1264 USD/oz
  • Next is EURUSD, which used the wedge to continue the downswing from Friday. We are really close to the recent up trend line and we should test that support soon.
  • Lastly, we look at the US dollar index, which also used the wedge, but in this case, to climb higher and to break the long-term down trend line. Sentiment here is positive and we should see a continuation of the bullish movement over the next few days.

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