Daily analytical report (26/09/18)

2018-09-26T13:27:20
  • We're seeing a bit of hesitation on GBPJPY. The pair is currently drawing a right shoulder of the H&S pattern, and this is no coincidence. We have been on the mid-term resistance created by the top since the middle of July. Currently, the most crucial level is the orange line, and a breakout here will bring us a sell signal.
  • Next up is EURJPY, where we have an opposite signal for JPY - so sell. That gives us a buy signal for the pair, which is mostly driven by the fact that the price is forming an ascending triangle pattern. That formation promotes the breakout of the horizontal resistance, even despite the fact that we are really high at the moment.
  • And lastly we have the SP500, which made a double bottom formation on a horizontal support and is ready to climb up again. With each new record high it gets more difficult, but hey, that wouldn't be the first time that the SP500 has fought for new records.

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