setups

Three good shorts: EURUSD, CHFJPY and FTSE

FOMC decision from yesterday did not surprise the market participants. For sure, the bullish approach towards the USD is still on the market. EURUSD is on a good way to test the lower line of the symmetric triangle pattern. Breakout is very probable, with a potential target on the long-term neckline of the H&S formation.

CHFJPY is trying to erase the gains from the first two days of this week. It is happening on a very important resistance and we do have a chance for a double top formation. On the weekly chart. Sellers are fighting for a shooting star candle, second in the 3 weeks, which can be a super strong sell signal.

FTSE broke the major up trendline and the lower line of the wedge pattern. Later, traders used both as a strong resistance. That confirms the sell signal and sets the bearish sentiment.

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