Daily analytical report (11/07/18)

Tomasz Wiśniewski

Chief analyst at Alpari Research & Analysis
  • We start with a nice, clean, technical setup on the CADCHF pair. The price bounced from the 38.2% Fibonacci and broke the lower line of the bullish correction. This would be a great sell if not for the BoC decision later today. Movements after the decision and statement are impossible to predict, which makes this setup very risky at the moment.
  • NZDCHF is giving out a very nice sell signal. The price broke the lower line of the flag, creating a head and shoulders pattern at the top of this formation. Today, the price is going lower, confirming the sell signal.
  • NZDUSD went back into a downtrend after flirting with the horizontal resistance. It looks like the green line has been rejected and we should see a further decline.

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