News & Analysis
Eightcap Forex technical insights; Risk trying start new uptrends to the USD?
With the trade war still around but slowly moving to the back of the room, we’ve seen strong moves from risk to the Japanese Yen. The USD held up with a fait bit more strength, but from friday risk has started to show a second point higher low that are being confirmed today with further rallies.
GBPUSD higher setup on Friday, buyers at this point look to be confirming it tonight. 1.3295 is the top of a continuing ascending triangle. A break and close above this roof would show soild buyer conviction.
Good trading from Eightcap
* The information provided here has been prepared by EightCap’s team of analysts. All expressions of opinion are subject to change without notice. Any opinions made may be personal to the author and do not reflect the opinions of EightCap.
In addition to the disclaimer on our website, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. EightCap accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.
Please note that past performance is not a guarantee of or prediction of future performance. This communication must not be reproduced or further distributed without prior permission.