Daily analytical report (01/03/18)

Tomasz Wiśniewski

Chief analyst at Alpari Research & Analysis
  • DAX just created a major sell signal. The reversal after the sell-off from February has ended. The price didn’t manage to break the 38.2% Fibonacci and went lower. We broke the lower line of the wedge and the 23.6% Fibo. The current target is the area around 11900 points – a super important long-term support.
  • As expected, GBPJPY went lower. We broke the lower line of the wedge and the horizontal support at 147.7. That opens the way to the support at 139.70. This creates an opportunity for a 700-pip movement! Definitely a risk worth taking.
  • Gold is very close to testing the important support at 1307 USD/oz. We broke the upwards trend line and the horizontal support at 1321 USD/oz. The price then created a bearish flag, which resulted in a drop. Sellers are holding all the cards now. Well, at least until 1307 USD/oz...

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