3 great setups with the USD

Time for three pairs with the USD. First one is the USDJPY, where we do have an inverse head and shoulders formation and the breakout of the neckline. The price is bouncing from the combination of two important dynamic supports so the place is not random. For the proper buy signal, we need to see the breakout of the green resistance.

EURUSD is testing the upper line of the symmetric triangle pattern. For a legitimate signal, we need to wait for either the breakout or the bounce. As for now, breakout looks more probable. That will not trigger the buy signal though. For this, we need to see the breakout of the green area first.

The last one is the USDCHF with a very technical setup. Broken up trendline was tested as a resistance and price made a shooting star on the daily chart. After this, the price fell as a rock breaking the yellow area. Now, most probably, we are going to test this area as the closest resistance.

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

This article was originally posted on FX Empire

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