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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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