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Strong sell on the JPY, Silver tries a reversal

By:
Tomasz Wiśniewski
Published: Jul 12, 2018, 09:58 GMT+00:00

Silver tries to create a double bottom formation but for this, we need to see the price closing above the resistance on the 16.15 USD/oz. That would also

Strong sell on the JPY, Silver tries a reversal

Silver tries to create a double bottom formation but for this, we need to see the price closing above the resistance on the 16.15 USD/oz. That would also create another hammer on the daily weekly chart.

USDJPY broke all major resistances along with the long-term down trendline. That is a strong buy signal, especially for long-term investors.

CADCHF is having an interesting price action setup, where the price bounced from the 38,2% Fibonacci and broke the lower line of the wedge. We also had a help from the BoC. Despite that, today the price goes a bit higher. The sell signal is still on the table though.

This article is written by Tomasz Wisniewski, a senior analyst at Alpari Research & Analysis

About the Author

During his career, Tomasz has held over 400 webinars, live seminars and lectures across Poland. He is also an academic lecturer at Kozminski University. In his previous work, Tomasz initiated live trading programs, where he traded on real accounts, showing his transactions, providing signals and special webinars for his clients.

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