Bitcoin analysis for August 17, 2018

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Trading recommendations:

According to the 30M time frame, I found that price did fake breakout of the yesterday’s high at the level of $6,440, which is a sign that buying looks risky. I also found a weekly pivot at $6,641 and 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 $6,200.

Support/Resistance

$6,520 – Intraday resistance

$6,380– Intraday support

$6,200 – Objective target

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Analysis of Gold for August 17, 2018

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Recently, Gold has been trading sideways at the price of $1,176.15. According to the M15 time – frame, I found that Gold is in a consolidation phase and a potential rising wedge is in progress, which is a sign that buying looks risky. The price also broke the monthly S2 support in the background, which is another sign of the downward pressure. My advice is to watch for a otential breakout of the support trendline to confirm further downward continuation. The downward targets are set at the price of $1,171.85 and at the price of $1,161.80.

Resistance levels:

R1: $1,183.57

R2: $1,193.45

R3: $1,205.37

Support levels:

S1: $1,161.75

S2: $1,149.85

S3: $1,139.95

Trading recommendations for today: watch for potential selling opportunities.

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

EUR/USD analysis for August 17, 2018

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Recently, the EUR/USD pair has been trading upwards. The price tested the level of 1.1419. According to the M30 time – frame, I found a false breakout of the yesterday’s high at the price of 1.1408, which is a sign that buying looks risky. I also found the level of 1.1400 (round number) to be a critical resistance at this stage. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.1350, 1.1337, and 1.1300.

Resistance levels:

R1: 1.1410

R2: 1.1445

R3: 1.1483

Support levels:

S1: 1.1337

S2: 1.1299

S3: 1.1264

Trading recommendations for today: watch for potential selling opportunities.

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

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