WTI Oil respected the long-term support created by the highs from the end of the 2016 and the first half of the 2017 (grey area, 55,1 USD/bbl). In the same place we had the upper line of the channel up formation. The price was testing that area for two days but finally buyers managed to end this short-term sideways trend and pulled the price higher. That creates a buy signal here.
USDMXN is a great example of the false breakout pattern. After the buyers were unable to hold the price above the 38,2% Fibonacci, the price went significantly lower. Current sentiment is negative.
USDJPY made a head and shoulders pattern. Price broke the neckline and then tested it as a closest resistance. Test was positive for sellers because the price bounced and made new mid-term lows. From the price action point of view that is a very strong sell signal.
USDMXN is a great example of the false breakout pattern. After the buyers were unable to hold the price above the 38,2% Fibonacci, the price went significantly lower. Current sentiment is negative.
USDJPY made a head and shoulders pattern. Price broke the neckline and then tested it as a closest resistance. Test was positive for sellers because the price bounced and made new mid-term lows. From the price action point of view that is a very strong sell signal.