Analysis of Gold for May 23, 2018

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Recently, the Gold has been trading upwards. As I expected, the price tested the level of $1,298.00. According to the H1 time – frame, I found a broken ending diagonal in the background, which is a sign that buyers are in control. I also found a broken intraday bullish flag, which is another sign of strength. On the MACD oscillator, I found a hidden bullish divergence. My advice is to watch for potential buying opportunities. The upward targets are set at the price of $1,302.70 and at the price of $1,311.00.

Resistance levels:

R1: $1,293.00

R2: $1,294.00

R3: $1,296.00

Support levels:

S1: $1,289.50

S2: $1,288.40

S3: $1,286.60

Trading recommendations for today: watch for potential buying opportunities.

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

Analysis of Gold for May 23, 2018

analytics5b0561faccde1.png

Recently, the Gold has been trading upwards. As I expected, the price tested the level of $1,298.00. According to the H1 time – frame, I found a broken ending diagonal in the background, which is a sign that buyers are in control. I also found a broken intraday bullish flag, which is another sign of strength. On the MACD oscillator, I found a hidden bullish divergence. My advice is to watch for potential buying opportunities. The upward targets are set at the price of $1,302.70 and at the price of $1,311.00.

Resistance levels:

R1: $1,293.00

R2: $1,294.00

R3: $1,296.00

Support levels:

S1: $1,289.50

S2: $1,288.40

S3: $1,286.60

Trading recommendations for today: watch for potential buying opportunities.

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

GBP/USD analysis for May 23, 2018

analytics5b05612e72503.png

Recently, the GBP/USD has been trading downwards. As I expected, the price tested the level of 1.3346. According to the H1 time – frame, I found a breakout of support trendline in the background, which is a sign that sellers are in control. My advice is to watch for potential selling opportunities on the rallies. I have placed Fibonacci expansion to find potential downward targets. I got Fibonacci expansion 100% at the price of 1.3315 and Fibonacci expansion 161.8% at the price of 1.3210.

Resistance levels: R1: 1.3483R2: 1.3526R3: 1.3560 Support levels: S1: 1.3405S2: 1.3370S3: 1.3327

Trading recommendations for today: watch for potential selling opportunities.

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

GBP/USD analysis for May 23, 2018

analytics5b05612e72503.png

Recently, the GBP/USD has been trading downwards. As I expected, the price tested the level of 1.3346. According to the H1 time – frame, I found a breakout of support trendline in the background, which is a sign that sellers are in control. My advice is to watch for potential selling opportunities on the rallies. I have placed Fibonacci expansion to find potential downward targets. I got Fibonacci expansion 100% at the price of 1.3315 and Fibonacci expansion 161.8% at the price of 1.3210.

Resistance levels: R1: 1.3483R2: 1.3526R3: 1.3560 Support levels: S1: 1.3405S2: 1.3370S3: 1.3327

Trading recommendations for today: watch for potential selling opportunities.

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

Bitcoin analysis for May 23, 2018

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The Bitcoin (BTC) has been trading downwards. As I expected, the price tested the level of $7.772 and met my yesterday’s target. The Chilean president, Mario Marcel, has made comment seemingly in favor of developing a regulatory apparatus for virtual currencies. The apparent openness to regulating cryptocurrencies contrasts significantly from the recent banking embargo targeting virtual currency, recently witnessed in Chile. The technical picture on Bitcoin looks bearish.

Trading recommendations:

According to the H1 time – frame, I found that the price broke support trendline in the background. I also found a breakout of intraday bearish flag, which is another sign of weakness. The MACD oscillator is showing weakness. My advice is to watch for potential selling opportuinties. The downward targets are set at the price of $7.566 and at the price of $6.962.

Support/Resistance

$7.920 – Intraday resistance

$7.770– Intraday support

$7.565 – Objective target 1

$6.962 – Objective target 2

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

Bitcoin analysis for May 23, 2018

analytics5b0560d0a7310.png

The Bitcoin (BTC) has been trading downwards. As I expected, the price tested the level of $7.772 and met my yesterday’s target. The Chilean president, Mario Marcel, has made comment seemingly in favor of developing a regulatory apparatus for virtual currencies. The apparent openness to regulating cryptocurrencies contrasts significantly from the recent banking embargo targeting virtual currency, recently witnessed in Chile. The technical picture on Bitcoin looks bearish.

Trading recommendations:

According to the H1 time – frame, I found that the price broke support trendline in the background. I also found a breakout of intraday bearish flag, which is another sign of weakness. The MACD oscillator is showing weakness. My advice is to watch for potential selling opportuinties. The downward targets are set at the price of $7.566 and at the price of $6.962.

Support/Resistance

$7.920 – Intraday resistance

$7.770– Intraday support

$7.565 – Objective target 1

$6.962 – Objective target 2

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

Daily analysis of EUR/JPY for May 23, 2018

EUR/JPYThe situation on this market is quite similar to what is happening on the USD/JPY pair. The strong pullback in the market (the current bearish breakout) has already put an end to the recent ranging situation on the market. About 300 pips have be…

Daily analysis of EUR/JPY for May 23, 2018

EUR/JPYThe situation on this market is quite similar to what is happening on the USD/JPY pair. The strong pullback in the market (the current bearish breakout) has already put an end to the recent ranging situation on the market. About 300 pips have be…

Daily analysis of EUR/JPY for May 23, 2018

EUR/JPYThe situation on this market is quite similar to what is happening on the USD/JPY pair. The strong pullback in the market (the current bearish breakout) has already put an end to the recent ranging situation on the market. About 300 pips have be…

Daily analysis of EUR/JPY for May 23, 2018

EUR/JPYThe situation on this market is quite similar to what is happening on the USD/JPY pair. The strong pullback in the market (the current bearish breakout) has already put an end to the recent ranging situation on the market. About 300 pips have be…

Daily analysis of USD/JPY for May 23, 2018

USD/JPYThe market got corrected lower on Monday, and that has now become something significant. From the high of Monday, the market has experienced about a 180-pip pullback, and that has resulted in serious threat to the recent bullish bias on the mark…

Daily analysis of USD/JPY for May 23, 2018

USD/JPYThe market got corrected lower on Monday, and that has now become something significant. From the high of Monday, the market has experienced about a 180-pip pullback, and that has resulted in serious threat to the recent bullish bias on the mark…

Daily analysis of USD/JPY for May 23, 2018

USD/JPYThe market got corrected lower on Monday, and that has now become something significant. From the high of Monday, the market has experienced about a 180-pip pullback, and that has resulted in serious threat to the recent bullish bias on the mark…

Daily analysis of USD/JPY for May 23, 2018

USD/JPYThe market got corrected lower on Monday, and that has now become something significant. From the high of Monday, the market has experienced about a 180-pip pullback, and that has resulted in serious threat to the recent bullish bias on the mark…

Daily analysis of USD/JPY for May 23, 2018

USD/JPYThe market got corrected lower on Monday, and that has now become something significant. From the high of Monday, the market has experienced about a 180-pip pullback, and that has resulted in serious threat to the recent bullish bias on the mark…

Daily analysis of USD/CHF for May 23, 2018

USD/CHFThe bearish signal that was generated on the USD/CHF pair yesterday, resulted in a medium-term bearish bias on the market. The market is below the resistance levels at 0.9950, now very close to the support level at 0.9900, which is the first tar…

Daily analysis of USD/CHF for May 23, 2018

USD/CHFThe bearish signal that was generated on the USD/CHF pair yesterday, resulted in a medium-term bearish bias on the market. The market is below the resistance levels at 0.9950, now very close to the support level at 0.9900, which is the first tar…

Daily analysis of USD/CHF for May 23, 2018

USD/CHFThe bearish signal that was generated on the USD/CHF pair yesterday, resulted in a medium-term bearish bias on the market. The market is below the resistance levels at 0.9950, now very close to the support level at 0.9900, which is the first tar…

Daily analysis of USD/CHF for May 23, 2018

USD/CHFThe bearish signal that was generated on the USD/CHF pair yesterday, resulted in a medium-term bearish bias on the market. The market is below the resistance levels at 0.9950, now very close to the support level at 0.9900, which is the first tar…

Daily analysis of USD/CHF for May 23, 2018

USD/CHFThe bearish signal that was generated on the USD/CHF pair yesterday, resulted in a medium-term bearish bias on the market. The market is below the resistance levels at 0.9950, now very close to the support level at 0.9900, which is the first tar…

Fundamental Analysis of USD/CAD for May 23, 2018

USD/CAD has been correcting itself below the 1.2950 area, from where it is expected to push lower in the coming days. The market is currently quite volatile and indecisive, whereas both currencies in the pair are struggling with the mixed economic repo…