Cryptocurrencies and forex analysis 09/18/2018



<br /> Market Brief<br />



Tuesday, September 18, 2018

EUR/USD Intraday: consolidation.
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Pivot: 1.1700

Our preference: short positions below 1.1700 with targets at 1.1655 & 1.1645 in extension.

Alternative scenario: above 1.1700 look for further upside with 1.1720 & 1.1750 as targets.

Comment: the RSI is mixed with a bearish bias. The pair is likely to draw a consolidation towards a rising trend line currently around 1.165.

Green Lines Represent Resistances | 
Red Lines Represent Support Levels | 
Light Blue is a Pivot Point | 
Black represents the price when the report was produced

 

TRADE NOW

* Trading is risky and your entire investment may be at risk.

GBP/USD Intraday: intraday support around 1.3135.
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Pivot: 1.3135

Our preference: long positions above 1.3135 with targets at 1.3170 & 1.3185 in extension.

Alternative scenario: below 1.3135 look for further downside with 1.3110 & 1.3090 as targets.

Comment: a support base at 1.3135 has formed and has allowed for a temporary stabilisation.

Green Lines Represent Resistances | 
Red Lines Represent Support Levels | 
Light Blue is a Pivot Point | 
Black represents the price when the report was produced

 

TRADE NOW

* Trading is risky and your entire investment may be at risk.

Gold spot Intraday: capped by a negative trend line.
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Pivot: 1200.50

Our preference: short positions below 1200.50 with targets at 1192.50 & 1190.00 in extension.

Alternative scenario: above 1200.50 look for further upside with 1205.00 & 1208.50 as targets.

Comment: the RSI calls for a drop.

Green Lines Represent Resistances | 
Red Lines Represent Support Levels | 
Light Blue is a Pivot Point | 
Black represents the price when the report was produced

 

TRADE NOW

* Trading is risky and your entire investment may be at risk.

Crude Oil (WTI) (V18) Intraday: watch 68.05.
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Pivot: 69.00

Our preference: short positions below 69.00 with targets at 68.05 & 67.45 in extension.

Alternative scenario: above 69.00 look for further upside with 69.70 & 70.15 as targets.

Comment: as long as 69.00 is resistance, likely decline to 68.05. The prices has broken below a rising trend line.

Green Lines Represent Resistances | 
Red Lines Represent Support Levels | 
Light Blue is a Pivot Point | 
Black represents the price when the report was produced

 

TRADE NOW

* Trading is risky and your entire investment may be at risk.

Bitcoin / Dollar intraday: rebound towards 6497
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6135 is our pivot point.

Our preference: rebound towards 6497.

Alternative scenario: the downside breakout of 6135 would call for 5996 and 5913.

Comment: the RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the pair is trading under both its 20 and 50 MAs (respectively at 6254 and 6356).

Green Lines Represent Resistances | 
Red Lines Represent Support Levels | 
Light Blue is a Pivot Point | 
Black represents the price when the report was produced

 

TRADE NOW

* Trading is risky and your entire investment may be at risk.

USD/JPY Intraday: caution.
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Pivot: 112.25

Our preference: short positions below 112.25 with targets at 111.75 & 111.60 in extension.

Alternative scenario: above 112.25 look for further upside with 112.50 & 112.65 as targets.

Comment: the RSI has failed to break above its bearish trendline. The pair is trading within a Broadening Formation: bearish reversal pattern.

Green Lines Represent Resistances | 
Red Lines Represent Support Levels | 
Light Blue is a Pivot Point | 
Black represents the price when the report was produced

 

TRADE NOW

* Trading is risky and your entire investment may be at risk.

Dow Jones Intraday: the downside prevails.
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Pivot: 26125

Our preference: short positions below 26125 with targets at 26000 & 25930 in extension.

Alternative scenario: above 26125 look for further upside with 26160 & 26210 as targets.

Comment: the RSI shows downside momentum.

Green Lines Represent Resistances | 
Red Lines Represent Support Levels | 
Light Blue is a Pivot Point | 
Black represents the price when the report was produced

 

TRADE NOW

* Trading is risky and your entire investment may be at risk.

Dax Intraday: bullish bias above 12110.00.
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Pivot: 12110.00

Our preference: long positions above 12110.00 with targets at 12190.00 & 12265.00 in extension.

Alternative scenario: below 12110.00 look for further downside with 12030.00 & 11955.00 as targets.

Comment: the RSI is bullish and calls for further advance.

Green Lines Represent Resistances | 
Red Lines Represent Support Levels | 
Light Blue is a Pivot Point | 
Black represents the price when the report was produced

 

TRADE NOW

* Trading is risky and your entire investment may be at risk.