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Daily analytical report (12/07/18)

Tomasz Wisniewski
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  • Silver is trying to create a double bottom formation but for this, we need to see the price closing above the resistance at 16.15 USD/oz. This would also create another hammer on the daily chart.
  • USDJPY broke all major resistances along with the long-term downward trend line. That is a strong buy signal, especially for long-term investors.
  • CADCHF has an interesting price action setup, where the price bounced from the 38.2% Fibonacci and broke the lower line of the wedge. We also had some help from the BoC. Despite that, today the price is looking up. The sell signal is still on the table though.

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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