Articles by Forex analysis review

The uncertainty surrounding the tax reform, the growth of geopolitical risks in the Middle East and the visit of Donald Trump to Asia allowed the bulls in gold to restrain their opponents who are on the offensive. There were rumors in the market that t…

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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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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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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

With InstaForex, you can earn on cryptocurrency’s movements right now. Just open a deal in your MetaTrader4.

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

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Recently, Gold has been trading sideways at the price of $1,276.00. According to the 15M time – frame, I found a supply trendline, which is holding. It also indicates that sellers are in control today. There is also a breakout of the pivot level of $1,276.95, which is another sign that there is weakness in the background. My advice is to watch for potential selling opportunties. The downward tarrgets are set at the price of $1,271.10 (pivot support 1) and at the price of $1,265.50 (swing low).

Resistance levels:

R1: $1,287.83

R2: $1,293.80

R3: $1,304.70

Support levels:

S1: $1,270.97

S2: $2,260.10

S3: $1,254.11

Trading recommendations for today: watch for potential selling opportunities.

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

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