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EUR/USD: End Of The Upswing?

Published 09/25/2018, 04:41 AM
EUR/USD
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AUD/USD
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GBP/NZD
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Yesterday the EUR/USD made new mid-term highs but the main pair is dangerously getting closer to create a bearish reversal pattern. The price is currently trying to create a head and shoulders formation or a triple top. Despite nice upswings, we do also have strong reversals. It is all happening on a very important support, dynamic and a horizontal one. Breakout of those two can bring us a proper sell signal.


AUD/USD is testing the recent broken neckline as a closest support. If buyers want to continue the upswing, they have to defend this line. Price falling down and closing a day below this line will be sign of a false breakout and a sell signal. Especially that we just bounced from the long-term down trendline


GBP/NZD bounced from the upper line of the symmetric triangle and the 50% Fibonacci. That looks very promising. Today, the price is climbing even higher, which increases the chances for a further rise. The sentiment is positive.

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