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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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CAC Edges Lower, French Trade Deficit Matches Forecast

November 8, 2017 Kenny Fisher 0

The CAC index has posted slight losses in the Wednesday session. Currently, the CAC is trading at 5,503.80, down 0.17% on the day. On the release front, there are no major events in the eurozone. France posted a trade deficit of EUR 4.7 billion, which matched the estimate. In the eurozone, retail sales reports were […]

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USDJPY Remains Vulnerable On Correction

November 8, 2017 MQL5: Traders' Blogs 0

USDJPY: The pair remains weak and vulnerable to the downside. On the downside, support comes in at the 113.50 level where a break if seen will aim at the 113.00 level. A cut through here will turn focus to the 112.50 level and possibly lower towards th…

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