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Daily analytical report (03/11/17)

2017-11-03T16:46:23

03 November

Mixed data (lower unemployment rate and NFP) caused a mixed reaction on the market. The USD rate initially dropped in reaction to the news, but quickly recovered after a few minutes. Now the dollar looks firm and the previous signals are still alive.
The US dollar index defended the lower line of the wedge and is now attacking its upper line. A breakout here should strengthen the current buy signal, which we recently received after the price broke the neckline of the iH&S formation.
EURUSD is still inside the bearish flag formation and has defended the neckline with a shooting star candlestick formation for the second time. This is very negative and brings us a nice sell signal on this instrument.
NZDSGD is an unusual instrument for our video but we have a good price action setup here. After a strong drop and a breakout of a long-term support, the price is now reversing and testing it as the closest resistance. Any bearish price action pattern would provide a strong sell signal here.