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Daily analytical report (04/05/18)

Tomasz Wisniewski
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  • We start with the EURUSD, which is in a legitimate downtrend. The price is making lower lows and highs and is trading below a very clean downwards trend line. Most recently, the price has created a pennant and is currently trying to break its lower line. Better data should definitely help here.
  • Next up is oil, which is in a legitimate uptrend. We’re seeing some beautiful trend continuation patterns; the latest one being a flag. A breakout of the upper line of this formation should trigger a buy signal.
  • Last up is bitcoin, which also is under the influence of a trend continuation pattern; in this case a pennant. BTC has already broken the upper line of it so a buy signal is forthcoming with the target at 11,200 USD.

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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