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Daily analytical report (25/08/17)

  • As we await Janet Yellen’s and Mario Draghi’s speeches, we’ve prepared three interesting trading setups for you. These are on the same instruments we looked at yesterday (GBPUSD, EURUSD and NZDUSD), mainly because these instruments traded as expected and we can still see the potential for them to continue.
  • GBPUSD is at its highest levels since Tuesday and is aiming at the mid-term downwards trend line and the horizontal resistance at 1.2845. An inverse Head and Shoulders formation could support a potential bullish breakout here.
  • EURUSD broke the upper line of the short-term flag and went on to test the 1.183 resistance. Pressure on 1.183 is rising along with the chances of a breakout.
  • NZDUSD is trying to break the 0.722 support, but after few attempts, sellers cannot claim victory. A bullish reversal in the mid-term could be supported by the small iH&S formation that developed this week.

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