Euro agree on the truce

The positive macroeconomic statistics for the US, the “hawkish” rhetoric of the Fed, the probability of three increases in the federal funds rate in 2018 from 69% to 84%, four monetary restrictions from less than 30% to 42%, an increase in the yield of…

Bitcoin analysis for April 20, 2018

analytics5ad9c13185bc0.png

The Bitcoin (BTC) has been trading upwards. As I expected, the price tested the level of $8,315. The European Parliament has voted in favor of stricter regulations in the crypto sector. Crypto exchanges and wallet providers will be required to introduce customer due diligence procedures, including identity verification. The platforms will have to apply for registration in order to offer their services. The new measures come with the latest update of the EU Anti-Money Laundering Directive.Technical picture on Bitcoin looks neutral to bearish.

Trading recommendations:

According to the H4 time frame, I found broken flat base and falling wedge in the background, which is a sign that buyers are in control. I also found a head and shoulders failure pattern, which is another sign of strength. My advice is to watch for potential buying opportunities. The upward target is set at the price of $8,875.

Support/Resistance

$8,348 – Intraday resistance

$8,125– Intraday support

$8,875 – Objective target

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 April 20, 2018

analytics5ad9c13185bc0.png

The Bitcoin (BTC) has been trading upwards. As I expected, the price tested the level of $8,315. The European Parliament has voted in favor of stricter regulations in the crypto sector. Crypto exchanges and wallet providers will be required to introduce customer due diligence procedures, including identity verification. The platforms will have to apply for registration in order to offer their services. The new measures come with the latest update of the EU Anti-Money Laundering Directive.Technical picture on Bitcoin looks neutral to bearish.

Trading recommendations:

According to the H4 time frame, I found broken flat base and falling wedge in the background, which is a sign that buyers are in control. I also found a head and shoulders failure pattern, which is another sign of strength. My advice is to watch for potential buying opportunities. The upward target is set at the price of $8,875.

Support/Resistance

$8,348 – Intraday resistance

$8,125– Intraday support

$8,875 – Objective target

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

Analysis of Gold for April 20, 2018

analytics5ad9bc59c7b61.png

Recently, Gold has been trading downwards. As I expected, the price tested the level of $1,339.00. According to the M30 time – frame, I found a breakout of upward channel, which is a sign that sellers are in control. My advice is to watch for potential selling opportunties. The downward targets are set at the price of $1,333.40 and at the price of $1,324.50 (Fibonacci expansion 100%).

Resistance levels:

R1: $1,353.15

R2: $1,360.85

R3: $1,366.95

Support levels:

S1: $1,339.35

S2: $1,333.26

S3: $1,325.57

Trading recommendations for today: watch for potential selling opportunities.

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