3 Good Setups For Thursday: Bitcoin, DAX And USD/CAD!

Published 03/08/2018, 05:52 AM
USD/CAD
-
DE40
-
DX
-
BTC/USD
-

11K USD is becoming a nemesis for Bitcoin. Recent developments around this cryptocurrency pushed the price even lower, below the support on 10k USD – strong psychological barrier. With that breakout, we have high chances to see the 8.7K USD soon. As long as we stay below the 11K USD we don't have any buy signal whatsoever.

DAX is doing everything possible to stay above the 11900 points. They are doing pretty well. Bullish engulfing pattern on a daily chart is still alive. One small obstacle ahead – 12275 points (navy blue). In the last few days that is a strong resistance. Only the breakout of this level can bring us a buy signal.


USD/CAD locked inside if the sideways trend between 1.2865 and 1.299. So far, so good for the buyers and we generally think that the price should continue to climb up.

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.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.