EURUSD and USDJPY wait for a breakout. Bitcoin confirms the resistance

Last few days on the USD are bringing us rather boring sideways trends. That kind of movements have one advantage – they should eventually come to an end, bringing us directional movements and at the same time – proper trading signals. EURUSD is locked inside of the symmetric triangle pattern. On Tuesday, the price is trying to break the lower line of this formation. If successful, we should see a further drop, aiming the 1.208 support.

USDJPY is also having a triangle pattern on the chart. The key in such formations is to wait for a breakout and act, not to guess the direction in advance. Breakout of the upper line opens us away towards the resistance on the 112 and breakout of the lower line opens us a way to 108.3.

Bitcoin still cannot recover after turbulences caused by the event from South Korea. We made a beautiful impulse equality pattern but the price failed to go higher and stopped in the mid-term down trendline and the horizontal resistance on the 11200 points. As long, as we stay below that area, the sentiment is negative.

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