Technical analysis

Pairs:




15 October 2018
  • 12:59

    EURUSD: Euro Ticks Higher on Monday

    EURUSD: Euro Ticks Higher on Monday 15.10.2018



    The single currency moved higher during the London session on Monday and was trading at 0.10 per cent stronger at around 1.1565.

    The strong zone near 1.1550, offered support and bulls bought the Euro here again. If the pair trades above, the short-term outlook seems bullish. The first notable resistance for today's trading might be at previous highs at 1.1625, where the 100-day moving average is also located. Bulls need to conquer this level to confirm the bullish bias, with the next target probably at 1.17.

    On the downside, bids might be located slightly above the 1.15 level, but if this support falls, bears could push the single currency toward October lows near 1.1430.

    From a long-term perspective, the EURUSD pair has not moved over the last five months and this choppy trading might continue, despite the Fed raising rates and US yields soaring to multi-year highs.

    Disclaimer:

    Analysis and opinions provided herein are intended solely for informational and educational purposes and don't represent a recommendation or an investment advice by TeleTrade. Indiscriminate reliance on illustrative or informational materials may lead to losses.

  • 12:47

    BTCUSD: Bitcoin Soars to Major Resistance

    BTCUSD: Bitcoin Soars to Major Resistance 15.10.2018


    The price of Bitcoin rose to around 8 per cent on Monday and, the main Crypto Coin was trading at around 6,500 USD during the London session, having dropped from the intraday high of 6,750 USD, which it reached earlier in the day.

    The price is now testing a very critical resistance at 6,750 USD (where it has stopped today for now), where the long-term bearish trend line is located. This trend line has been limiting the upside potential of the Bitcoin for many months now. The 100-day moving average has also served as a strong resistance as well.

    If the price breaks above this major level, the long-term bearish trend could end and the phase of consolidation, or possibly a bullish move, might occur. The next target could be at 7,250 USD, where the 200-day moving average stands.

    However, this resistance could bring with it a large amount of selling orders, as the price continues to drop quickly after the first test of 6,750 USD and, the key support for the price of Bitcoin remains in the 6,000 USD area. Should the Crypto drop below, the bearish trend could be confirmed, targeting 5,500 USD in the initial reaction, as larger stop losses might be allocated slightly below 6,000 USD.

    Disclaimer:

    Analysis and opinions provided herein are intended solely for informational and educational purposes and don't represent a recommendation or an investment advice by TeleTrade. Indiscriminate reliance on illustrative or informational materials may lead to losses.

Focus market

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  • Swiss Producer and Import Price Index fell in September 2018 by 0.2% compared with the previous month
  • Fed's Quarles Calls for Predictable, Gradual Policy Normalization
  • Trump Says He Doesn't Want to Fire the Fed Chair. It Isn't Clear If He Could
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