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Daily analytical report (14/11/17)

Tomasz Wisniewski
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  • EURGBP bounced from the ultra-important support at 0.875 before going on to break up the mid-term downwards trend line and come back above the long-term upwards trend line. This should be perceived as bullish and the potential target for this movement is at 0.902
  • EURUSD denied the huge head and shoulders pattern, and after drawing the double bottom formation, has come back above the neckline. This is bullish, but for a buy signal, we need to see a breakout of the upper line of the flag formation.
  • NZDSGD bounced from the 0.947 resistance and broke the lower line of the wedge. This has triggered a sell signal with a potential target at 0.914, where the lows are from the end of 2015 and the beginning of 2016.

Attention:

Forecasts which are made in the review constitute the personal view of the author. Commentaries made do not constitute trade recommendations or guidance for working on financial markets. Alpari bears no responsibility whatsoever for any possible losses (or other forms of damage), whether direct or indirect, which may occur in case of using material published in the review.

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