Daily analytical report (28/09/18)

Tomasz Wiśniewski

Chief analyst at Alpari Research & Analysis
  • Gold has finally chosen a direction! After few weeks of a boring sideways trend, XAUSUD finally broke the lower line of the symmetrical triangle pattern. That brings us a sell signal and opens the way towards the lows from August. Buyers were quite hopeful, but it didn't work out this time.
  • DAX is having a small correction now, but yesterday managed to make new monthly highs. The movement was influenced by the bullish flag formation and the breakout of the mid-term dynamic resistance. Sentiment is still positive, even despite today's drop.
  • NZDCAD is going down and showing a legitimate sell signal. The pair has a false breakout pattern and a bearish flag formation. What is more, we came back below the downwards trend line. Three negative factors at once. That should end with a further drop.

 

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