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Daily analytical report (13/04/18)

Tomasz Wisniewski
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  • After a major buy signal, the NZDUSD pair went higher, creating two correction patterns in the meantime; a rectangle and a pennant. Both of them were very shallow, which is indicative of great bullish potential. 0.7435 is the ultimate target here.
  • GBPUSD is climbing up like a set of stairs. The price is respecting horizontal supports and resistances. Bullish momentum is very strong and the corrections are also small (like on the NZDUSD).
  • EURUSD, as expected, bounced from the 50% Fibonacci. With this kind of a price action, we should see a further rise.
  • CADJPY had three supports to choose from: 84.55, mid-term upwards trend line and the 38.2% Fibonacci. It used all of them! The current target is the long-term upwards trend line; around 200 pips higher.

 

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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