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Bitcoin analysis for October 20, 2017

October 20, 2017 Forex analysis review 0

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The Bitcoin (BTC) has been trading sideways at the price of $5.635. President Donald Trump’s Attorney General, Jeff Sessions, testified before the Senate Committee on the Judiciary. The committee is given rather broad powers concerning federal criminal law and internet privacy. During a quick exchange, hours into the hearing, Mr. Sessions was asked about the “dark web.” His answers might foreshadow what’s ahead for digital privacy and bitcoin users. The intraday picture looks bullish.

Trading recommendations:

According to the 15M time – frame, I found a fake breakout of the pivot point at the price of $5.630, which is a sign that selling looks risky. There is also a tweezer bottom in the background, which is another sign of strength. My advice is to watch for potential buying opportunities. The upward targets are set at the price of $5.780 (R1) and $5.880 (R2).

Support/Resistance

$5.630 – Pivot level

$5.780 – Pivot resistance 1

$5.880 – Pivot resistance 2

$5.534 – Pivot support 1

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USD/JPY analysis for October 20, 2017

October 20, 2017 Forex analysis review 0

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Recently, the USD/JPY pair has been trading upwards. As I expected, the price tested the level of 113.46. According to the 15M time – frame, I found a broken pivot resistance 1 at the price of 113.03, which is a sign that buyers are in control. Stochastic is showing oversold condition on latest downward correction, which is sign that that bullish activity may resume. My advice is to watch for potential buying opportunities. The upward targets are set at the price of 113.50 (R2) and extreme target at the price of 113.85 (S3).

Resistance levels:

R1: 113.03

R2: 113.50

R3: 113.85

Support levels:

S1: 112.17

S2: 111.80

S3: 111.32

Trading recommendations for today: watch for potential buying opportunities.

The material has been provided by InstaForex Company – www.instaforex.com

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NZD/USD Intraday technical levels and trading recommendations for October 20, 2017

October 20, 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 October 20, 2017

October 20, 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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