Daily analytical report (25/07/18)

2018-07-25T14:00:25
  • Important data for AUD came in overnight. The CPI fell slightly short of expectations, causing the Aussie dollar to weaken. On the EURAUD pair, this did not occur at a random place. The price again bounced from the support at 1.571. We are still locked inside the sideways trend, waiting for a breakout.
  • NZDCAD is also in a sideways trend; in a symmetrical triangle pattern to be precise. It is a very interesting occasion because this pair loves directional movements, and so a breakout would most likely provide a great trading opportunity
  • USDJPY is still above the combination of crucial supports: long-term downward trend line and mid-term upward trend line. We also do have a short-term horizontal support here. As long as we stay above the lower pink area, the sentiment is positive. At the same time, we have a triangle here, so a breakout of its upper line would be a long-term buy signal.

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