EUR/USD: price to test the 34 Moving Average
The pair has been declining since the last 'Harami' formed. However, there's a bullish 'Hammer', which has been confirmed...
Bitcoin (BTC/USD) could be following a deep correction
The bears finally took the reins of the Bitcoin movements and we see that in the short term there is a dynamic support offered by the 200-hour moving average. The resistance of 11339 has remained solid and has helped the BTC/USD pair to remain under downward pressure, so we may see a deeper downward correction.
The Parabolic SAR is suggesting that the downward trend could last for a few more days, as the bullish price action weakens when touching the key level of 11339. The 200-hour moving average is limiting losses, although it is likely to be fractured for thus allowing more falls in the coming days.
What do we expect?
According to our forecasts in the H1 chart, cryptocurrency aims to gain momentum at more bearish levels. Therefore, our projections put Bitcoin at the Fibonacci level of 38.2% in 9407 at least, so that we observe a buying reaction that allows a rebound towards the Fibonacci target of -23.6% in 12985. The RSI remains in negative territory.
Felipe Erazo
Similar
GBP/JPY: finished 'Flag' pattern
The market is consolidating above the Moving Averages. Previously, we had a 'V-Bottom' pattern, which has been confirmed...
USD/CHF: market to test the lower 'Window'
There's a bearish 'Engulfing', which formed at the last local high, but this pattern hasn't been confirmed yet. It's likely that...
Latest news
GBP/USD: confirmed "Thorn" pattern
The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...
USD/CHF: time to correct?
USD/CHF remains weak across the board and stays strong with a bearish consolidation below the 200 SMA at H1 chart…
EUR/USD: "Tweezers" on 34 Moving Average
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...
Deposit with your local payment systems
