Small Correction On USD

Published 01/02/2018, 09:25 PM
EUR/USD
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GBP/USD
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NZD/USD
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DX
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First cracks start to appear on the anti USD trend. The biggest correction can be so far seen on the NZD/USD. The price is approaching a combination of three important supports and that actually creates a good occasion for the bulls, to buy this pair with the better (lower) price. What are those supports? First one is the horizontal one on the 0.705. Second one is the long-term up trendline and the third one is a correction equality pattern.


EUR/USD also stopped the upswing for a while. Place, where that happened, is not random. The rise paused exactly on the resistance created by the highs from September 2017 and yearly lows from 2012. That can be potentially a strong resistance here.


GBP/USD was discussed by us yesterday and we said that the pair should climb higher. That is exactly what happened. We don't usually look on the smaller timeframes but this time we will make an exception for the beautiful small ascending triangle pattern. The price tries to break the upper line of this formation as we speak so the chances for another bullish upswing are rising significantly.

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