🥇 First rule of investing? Know when to save! Up to 55% off InvestingPro before BLACK FRIDAYCLAIM SALE

Bitcoin and USDCAD with the buy signal. EURUSD waiting for one

Published 10/26/2017, 07:25 AM
EUR/USD
-
USD/CAD
-
BTC/USD
-


Bitcoin breaks the 5770 USD and triggers the buy signal which should aim the all time highs. That movement was expected as we were inside of the wedge pattern (bullish) and the price bounced from the long-term up trendline connecting higher lows since the middle of September.


USDCAD uses buy signal from both: technical and fundamental analysis. Here we have a positive combination from the dovish BoC and the denial of the H&S pattern along with the breakout of the 1.259 resistance. Most recently we broke the 1.277 resistance which now should be used as a closest support.


EURUSD is getting ready before the ECB. The price just tested the upper line of the flag and the horizontal resistance on the 1.183. We are waiting here for either a breakout of the upper line of the flag or a bearish breakout of the neckline. One of those should give us a strong mid-term trading signal.

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.