Bitcoin is testing upper range in the triangle descending since early March. Watching this price area closely as three daily closes (Thursday close in particular) above the resistance line would open the way for further Bitcoin gains. Otherwise, daily close below 8,200 would top BTCUSD value for another quarter.
GBPAUD and GBPCAD demonstrate historically high positive correlation (0.9). The crosses currently offer a mirroring long breakout setup from the narrowing triangle structure.
The orders' confirmation comes after 1H candle close above the resistance trendlines. Hope this helps.
Price action short setup on USDCAD.
Sell at 1.2620, an intersection of static resistance line, dynamic barrier and R2 pivot point.
Partial fix at 1.2592, a bottom channel line. Its break indicates short position confirmation.
The following targets at 1.2530 and 1.2470 at static support areas.
We won't need to wait for the next big move of Ripple for that long as their twitter countdown is due tomorrow. Also Ripple is expected to speak at Fintech Week New York 1.30pm NY time. If their actual news appear worth that recent attention its realistic to target today's high update at 0.35 area. A bolder expectation is an impulse extension up to 0.55...
Ripple (XRP) has demonstrated an outstanding hypetrain example: in just 30 hours from the first company tweet, its price has increased 100% from 15 to 30 cents.
This case only confirms how cryptomarkets remain vulnerable to any kind of rumours. Any company would enjoy doubling its cap with posting a few GIF notes.
First tweet suggested a conference organized by...
Short USDCAD from the intersection of dynamic resistances in 1.2780 area. Stop set above R1 at 1.2800. 38.2% Fibo retracement level confirms the barrier at 1.2755.
First target 1.2710 set with the projection of trendline, once it's broken USDCAD may extend its slide back to recent low at 1.24.
EURAUD has test daily support, project through close levels of 02 Jun - 07 Jul.
Pair's rebound from the dynamic barrier would confirm long entry targeting 1.51, where intersect extreme and close trendlines from Sep 2015.
Stop 1.4840, target 1.5080.
On Monday EURUSD tested and closed at 1.0860, dynamic resistance level made up with crossing trendlines connecting maximum and closing levels from May-Aug 2016.
This test offers opportunity selling euro with the first target of 1.0770, the static level had stopped pair's growth back in Dec and Feb. Further support levels are
1.0690, intersection of lines...
Last week bitcoin has updated all-time high to US Dollar at 1218. Growth potential is currently limited by dynamic resistance trendline that connects Dec 2015 - June 2016 highs, confirmed with Jan 2017 reversal at 1120.
Considering bitcoin dynamics it may reverse from the current point and quickly drop down to 1100 and 920 support levels.
EURUSD extended its 5th wave in the descending move from 1.0830 which appears to remain an impulse structure. If Elliott wave count is correct, its likely to see EURUSD updating recent 1.0520 low.
Preferred sell zone is set at 1.0720, where descending neckline meets 61.8% Fibo retracement level and R3 pivot point.
Close below dynamic support zone 1.0640-1.0660...
Silver has tested the lower range of February descending triangle at 17.75 for the second time since yesterday. I'd short XAGUSD once it meets
A. 18.10, upper range of the triangle;
B. 17.70, indicating break below its current range.
USDCHF has just tested February ascending channel's upper range at 1.0110. The resistance level is confirmed by brown descending neckline (dis [layed on the chart below) and R2 pivot point.
Short USDCHF from the current level targeting 1.0040 - channel's lower range and purple trendline projection.
Silver quotes continued trading above the bearish channel range described in the previous idea. XAGUSD approaches the follownig daily resistance at 18.15 displayed on the daily timeframe.
On main 1-hour chart a descending triangle is marked in green, its upper range at 18.01 was tested at the start of this hour. This level supplemented with R2 pivot point 18.07...
EURUSD has just tested the dynamic support at 1.0590 led through minimum levels of 8-10 Feb. Descending move from the recent peak of 1.0830 may be displayed as 5-wave impulse wave. If this assumption is correct, we would see further euro decline in mid-term.
Test and break above red line in the 1.0630 area would indicate making up of correction move to the bearish...
Bitcoin performance this January is just impressive with up to 25% daily volatility. In the following weeks I'm expecting BTCUSD to rise back to 1050 dynamic resistance, this outlook would remain relevant until bitcoin hold above 800 level.
Intraday Bitcoin is trading in the ascending channel.
First support at 870.
Short-term resistanse levels at 920 and 950.
USDCAD is testing daily dynamic support zone at 1.3000/25 for the second time this week. This barrier has been made up with the intersection of trendlines from the extreme minimal and closing levels of Jun-Aug 2016.
Thursday candle close above the described support would indicate the pair's recovery targeting 1.3180-1.3210.
Daily close below 1.30 would confirm...