BCOUSD (Daily timeframe) - Long - Target 59.30

Target: 59.304 and 61
Invalidation point is 54.5 (actually thick black Moving Average Composite)

Multi timeframe analysis - Updated on: 05/10/2017
M) Up (although early/fragile) PR TA: 61.68, C < MA's, RSI not yet above 60
W) Up: RSI>60, Close > MA's
D) Up: PR TA: 59.304
4H) Indecisive (RSI is on 61)

Reasons why:
* Clear uptrend on daily, target is 59.304
* RSI moves between 40 and 80
* Previous tops give support
* Price above the Moving Averages, although at same level as SMA(9)
* Weekly and Monthly Timeframes aligned

Comment:

Major resistance (and acceleration point): 57.767
Target: 59.304 and 61
Invalidation point is 55 (actually thick black Moving Average Composite on Daily TF)

Updated on: 17/10/2017
M) Up (although early/fragile) Positive Reversal Target: 61.68, Close < Moving Averages, RSI not yet above 60, but supp on 40
W) Up: RSI>60, Close > MA's
D) Up: PR TA: 59.304
4H) Up: PR TA: 58.691

Trade closed: target reached:

Targets have been hit, new analysis will be placed shortly