EUR/USD has turned up from the 50-day MA at 1.1715 yesterday. This is a sign that buyers are strong. Still, the short-term resistance line limits the upside at 1.1870.
BTC/USD remains under pressure
SELL at 3625; TP 3465; SL 3700
BTC/USD didn’t move much during the last week. However, on D1, Bitcoin was clearly rejected down by the 50-day MA (3777.96) at the end of the week.
A bearish flag implies the upcoming decline to 3463 (78.6% Fibo retracement of the December advance). The next support — and a very important one — is at 3250 (December lows, 200-week MA).
USD/JPY is declining for the fifth day in a row. When the pair fell below 105.00, it entered a new, lower range.
The resistance line is limiting USD/JPY on the upside and, unless the pair tries for a breakout (which anyway will meet resistance at 106.50 and 106.80), the easiest path for it will be to go down.
Gold is steadily plummeting for the third consecutive day. Where is the bottom? Let’s find out.
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