News & Analysis

Eightcap Forex technical insights; Risk trying start new uptrends to the USD?

Jul 16, 2018 | Forex News

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.

EURUSD hard set support is in place, a upward trend channel is in place. Today’s rally after Friday’s higher low are further good signs. 1.1790 we see as the next decent test for buyers.

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

 

 

 

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