Daily analytical report (27/12/17)

2017-12-27T12:37:15
  • Last Wednesday of the year brings us quite interesting trading setups. First one is Cable, GBPUSD, where the price is pushing higher. Buyers are supported by the long-term upwards trend line and the wedge formation. Actually, the upper line of the wedge has already been broken, so buy signal is behind the corner. To be safe traders can wait with their decision until the breakout of Friday's highs.
  • Next one is an exotic instrument – CADCHF, which is also in an upwards trend. It is now breaking the upper line of the correction pattern. In this case it is a flag, but the signal is the same as for the GBPUSD – buy. One more thing, it would also be better here to wait for the breakout of horizontal resistance, in this case – December highs.
  • Last one is the WTI Oil. On Friday buyers broke the upper line of the symmetric triangle and most recently the horizontal resistance created by the tops from the end of November and the beginning of December. We do have a buy signal here and the price has been on the highest levels since the middle of 2015.

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