Daily analytical report (13/04/18)

  • 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.

 

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