Category Archives: Forex analysis review

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BITCOIN Analysis for November 7, 2017

Bitcoin has been quite corrective and bearish recently which has led the price to fall back towards $7,000 support area. The trend has been non-volatile and most of the fundamental news has been in favor of Bitcoin which has supported the price to gain…

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Technical analysis of USD/JPY for November 07, 2017

All our targets which we predicted in yesterday’s analysis have been hit. USD/JPY is still expected to trade with a bullish outlook. The pair is trading above its rising 20-period and 50-period moving averages, which play support roles and maintain the…

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Technical analysis of USD/CHF for November 07, 2017

USD/CHF is under pressure. The pair confirmed an intraday bearish reversal after the downside breakout of its key horizontal level at 1.0040 (a psychological level). The 20-period and 50-period moving averages are now above the prices and should mainta…

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Fundamental Analysis of EUR/JPY for November 7, 2017

EUR/JPY has been impulsively bearish recently after bouncing off 132.50 resistance area. The pair is still residing inside the corrective range between 131.70 to 134.40 area but currently having a bearish squeeze above the support area. Today ECB Presi…

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Technical analysis of GBP/JPY for November 07, 2017

NZD/USD is expected to trade with a bearish outlook. The pair recently extended its decline and rebounded around 148.75, and is likely to gain the support level at 149.40. The risk of a slide below this threshold remains high, as the 20-period and 50-p…

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Technical analysis of NZD/USD for November 07, 2017

NZD/USD is expected to trade with a bullish outlook. The pair is expected to challenge its nearest key resistance at 0.6955, and is likely to break above it in the coming trading hours. The 20-period moving average has crossed above the 50-period one, …

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Technical analysis of NZD/USD for November 07, 2017

NZD/USD is expected to trade with a bullish outlook. The pair is expected to challenge its nearest key resistance at 0.6955, and is likely to break above it in the coming trading hours. The 20-period moving average has crossed above the 50-period one, …

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Global macro overview for 07/11/2017

The Australian Dollar found temporary support in the RBA announcement that no major changes in inflation and growth forecasts were made. Especially the latter was reassuring in the face of recent disappointing CPI data. But the bank maintained optimism…

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Global macro overview for 07/11/2017

Oil rises to $57, hitting the highest level since July 2015.The rally in oil prices is partly driven by recent reports from the OPEC as the geopolitics continues to boost price surges. As an outgrowth of an anti-corruption campaign, Saudi Arabia’s powe…

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Bitcoin analysis for November 07, 2017

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The Bitcoin (BTC) has been trading sideways at the price of $7.183. As hedge funds rush to enter the cryptocurrency space, the landscape for retail cryptocurrency investors is fundamentally changing before our very eyes. Marcel Chuo from news.Bitcoin.com sits down with Guy Zyskind, CEO of Enigma to discuss how his team is helping hedge funds that utilize artificial intelligence and automated bot trading enter the crypto space. Guy breaks down the implications of this fundamental shift and we discuss how the community can prepare for the rise of AI in crypto trading. Technical picture looks neutral to bearish.

Trading recommendations:

According to the 15M time frame, I found broken intraday symmetrical trignale in the background, which is a sign that buying looks risky. I also found a hidden bearish divergence on the RSI oscillator, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward target is set at the price of $6.912.

Support/Resistance

$7.210 – Intraday resistance (price action)

$7.151. – Pivot level

$6.892 – Pivot support 1

$7.378 – Pivot resistance 1

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The material has been provided by InstaForex Company – www.instaforex.com