FOMC Minutes from yesterday gave the boost to the USD but the movement was not very volatile. Minutes stopped being a Tier 1 data quite some time ago. Now, markets have other issues to be worried about. In this Trading Sniper video, we do have two pairs with the EUR and one with safe heaven currencies.
First, EUR/USD. The pair created a nice inverse head and shoulders pattern on the H1/H4 chart. The price already broke the neckline and tested that twice as a closest support. Both tests were positive for the buyers and gave us long tails on the H1 candles. The buy signal is ON, with the mid-term down trend line as the closest target.
EUR/NZD is the next pair but the situation here is very similar. The price is also creating an inverse head and shoulders pattern. The neckline (along with the 38,2% Fibo) was broken today and that gave a nice bullish momentum for the buyers. The mid-term buy signal is ON.
Last pair is the CHF/JPY, so a clash of the safe heaven assets. Here, the price broke the upper line of the symmetric triangle pattern and the horizontal resistance around 110.3. After that, buyers successfully tested that as a support. Current price action tells us that we should expect a further upswing here and that is our outlook on this instrument.