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Gold recalled its old ties

November 9, 2017 Forex analysis review 0

The uncertainty surrounding the tax reform, the growth of geopolitical risks in the Middle East and the visit of Donald Trump to Asia allowed the bulls in gold to restrain their opponents who are on the offensive. There were rumors in the market that t…

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Bitcoin analysis for November 08, 2017

November 8, 2017 Forex analysis review 0

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The Bitcoin (BTC) has been trading upwards. The price tested the level of $7,517. Sweden’s financial regulator has issued a statement outlining a number of risks pertaining to ICOs. The document describes “ICO” as a “term used as the designation for launching a new token or other form of digital access based on… crypto”. Technical picture looks neutral to bearish.

Trading recommendations:

According to the 1H time frame, I found the resistance cluster at the price of $7,467 is on the test. In my opinion, the Bitcoin looks extend today and my advice is to watch for potential selling opportunties. I found the Shooting Star formation near the strong resistance, which is a sign of weakness. Downward targets are set at $7,229 and $7,070.

Support/Resistance

$7.517 – Intraday resistance

$7.229 – First downward target

$7.070 – Second downward target

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NZD/USD Intraday technical levels and trading recommendations for November 8, 2017

November 8, 2017 Forex analysis review 0

Daily OutlookA recent bullish breakout above the downtrend line took place on May 22. Since then, the market has been bullish as depicted on the chart.This resulted in a quick bullish advance towards next price zones around 0.7150-0.7230 (Key-Zone) and…

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Intraday technical levels and trading recommendations for EUR/USD for November 8, 2017

November 8, 2017 Forex analysis review 0

Monthly OutlookIn January 2015, the EUR/USD pair moved below the major demand levels near 1.2050-1.2100 (multiple previous bottoms set in July 2012 and June 2010). Hence, a long-term bearish target was projected toward 0.9450.In March 2015, EUR/USD bea…

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Analysis of Gold for November 08, 2017

November 8, 2017 Forex analysis review 0

Recently, Gold has been trading upwards. The price tested the level of $1,282.40. Anyway, according to the 15M time – frame, I found successful rejection from pivot resistance 1 at the price of $1,280.70, which is sign that buying looks risky. I also f…

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