And The Winner Is, The American Dollar

President Donald Trump is the center of attention again. He makes sure that stock and forex traders will not forget about him even for a second.

He called off the negotiations about the new fiscal stimulus package, which sent indices lower. In today’s analysis, we will focus on the as we can currently see at least three very handsome trading occasions. The best thing is that we warned our clients about those setups in our yesterday’s Traders Edge video.

First let me show You the , where the price firmly bounced from the crucial long-term horizontal resistance. The bounce is a pure double top formation. What is more, the initial bullish correction, which led to that resistance was the flag, so this movement was meant to end with a drop from the very beginning. The sentiment on Aussie is definitely bearish.

A very similar occasion can be spotted on the , where the price also bounced from the crucial horizontal resistance. Here, the second test was at the same time a wedge and, as expected, the action ended with a breakout of the lower line of this pattern and a proper mid-term sell signal.

Last but not least is the , where the price created a massive double bottom formation. Today, the price broke the long-term dynamic resistance, which can be considered as an ultimate buy signal. With today’s attack, the sentiment on USD/JPY is definitely positive.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

This site uses cookies to offer you a better browsing experience. By browsing this website, you agree to our use of cookies.