Daily analytical report (04/09/18)

2018-09-04T14:21:18
  • GBPUSD is extending losses, but it's no surprise here as the bearish setup is very technical. The price bounced from the long-term resistance at 1.303 and from the mid-term downwards trend line. What is more, we broke the lower line of the flag and the horizontal support at 1.293. All of that together gives us a strong sell signal.
  • Yesterday, EURAUD created a doji on the daily chart, and on the H1 chart we got a head and shoulders pattern. That was a great signal to take some profits from the huge upswing. I said "was", because that opportunity has passed. After an initial downswing, the price is now ignoring the resistance and is climbing vastly higher and making new daily highs.
  • GBPJPY has a great sell signal after bouncing from a combination of four strong resistances. Currently, we may experience a small upswing, but the long-term sentiment is definitely negative.

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