Author: Daily Forex Analysis

Fx Technical and fundamental analysis contributor. Forex trend indications based on many indicators available in the Metatrader MT4 charting software.

Bitcoin analysis for October 15, 2018

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Trading recommendations:

According to the 4H time – frame, I found that Bitcoin has been trading upwards. As I expected, the price tested the level of $6.719 and reached my second target from Friday at $6.496. So far, I have found the market started to balance and I have found a balance high at $6.718 and a balance low at the price of $6.157. My advice is to have patience to wait for a breakout out of balance to confirm a further direction.

Support/Resistance

$6.718 – Intraday resistance

$6.157– Intraday support

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

GBP/JPY analysis for October 15, 2018

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Recently, the GBP/JPY pair has been trading downwards. As I expected, the price tested the level of 146.50. According to the H1 time – frame, I found a fake breakout of the 15-day low at the price of 146.93, which is a sign that potentially the sellers might got trapped. My advice is to watch for buying opportunities. The upward take profit level is set at the price of 148.95.

Trading recommendations for today: watch for potential buying opportunities.

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

Fundamental Analysis of EUR/USD for October 15, 2018

EUR/USD is currently quite impulsive with the bullish gains after impulsive bearish pressure recently from 1.1600 area with a daily close. While USD is struggling amid worse-than-expected economic reports, EUR gained momentum without any macroeconomic …

EUR/USD analysis for October 15, 2018

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Recently, the EUR/USD pair has been trading upwards. As I expected, the price tested the level of 1.1610. According to the H1 time – frame, I found the breakout of the bullish flag pattern in the background, which is a sign that buyers are in control. The price rejected from the Fibonacci retracement 38.2% at the price of 1.1542, this is another sign of the strength. My advice is to watch for buying opportunities. The upward take profit levels are set at the price of 1.1637 and at the price of 1.1705.

Trading recommendations for today: watch for potential buying opportunities.

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

Technical analysis of AUD/USD for October 15, 2018

Overview: Pivot: 0.7107The AUD/USD pair faced resistance at the level of 0.7146, while minor resistance is seen at 0.7107. Support is found at the levels of 0.7043 and 0.6980. Also, it should be noted that a daily pivot point has already set at the l…

Technical analysis of EUR/USD for October 15, 2018

Overview:The EUR/USD pair continues to rise from the level of 1.1500 in the long term. It should be noted that the support is established at the level of 1.1497 which represents the 38.2% Fibonacci retracement level on the H4 chart. The price is like…