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Daily analytical report (14/02/18)

Tomasz Wisniewski
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  • Ahead of the CPI data from the US, we have two sell signals attached to the US dollar. The first one is direct; a sell signal on the USDJPY, while the second one is indirect; a buy signal for gold (driven mostly by the weaker USD).
  • Yesterday, USDJPY broke a super important support at 108.3 and today, the price is making lower lows and lower highs, which is confirmation of a bear market and decreases the likelihood of it being a false breakout.
  • Gold defended the 1,307 USD/oz support along with the 38.2% Fibonacci. We also broke the upper line of the wedge formation. This is all positive and creates a mid-term buying opportunity.
  • SP500 is still doing well. The major upwards trend lines and Fibonacci were defended. We are very close to forming a full V-shaped reversal, which shouldn’t come as a surprise given that American indices have done this many times before. Why should they not do it again?
13 February, 15:36 (GMT+3)
Daily analytical report (13/02/18)
15 February, 09:16 (GMT+3)
Forex market review (15/02/18)


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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