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USD Gains Strength, But Not On The Cable Though

Published 08/30/2018, 04:33 AM
GBP/USD
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USD/JPY
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NZD/USD
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NZD/USD bounced from a very important resistance created by the mid-term horizontal line and the correction equality pattern. The bounce was done with a style as the price created a double top formation. The way towards new lows is opened.


GBP/USD reached a combination of two super important resistances. First one is the mid-term down trendline, which is connecting recent lower highs and the second one is the long-term horizontal line, which previously worked 4 times as a support. Only the fact that we are here is not enough to sell. One should wait for the bearish price action first.


USD/JPY broke the upper line of the sideways trend and a mid-term horizontal resistance. That sets the buy signal. Currently, we do have a bearish correction but this one should end soon. The sentiment is positive.

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