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Daily analytical report (12/09/18)

Tomasz Wisniewski
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  • EURUSD still cannot decide if it wants to go up or down. The major neckline is still a support, so we do not have a sell signal, but at the same time, the line connecting the top of the head and the right shoulder is also intact. For a proper signal we need to wait for the breakout.
  • AUDJPY is in a very technical downwards trend. Most recently, the price created a correction pattern – a flag (white lines), which is just waiting for the bearish breakout. This scenario is more probable, especially as the price is below all major mid-term resistances.
  • The show must go on. SP500 is defending major supports, thus delaying the thought of a bigger correction. We are above major horizontal and dynamic lines, which cancels the sell signal for now. New all-time highs are on the horizon! 

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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