After Trading Lower for Days, EURJPY Is Structured for a Breakout

EURJPY Price Analysis – November 15

The common European currency versus Japanese yen had depreciated about 57 basis points and exited Thursday on the level at 119.47. Looking at a hypothetical perspective, the exchange rate of EURJPY may make an upside reversal inside this session. Buyers may focus on the moving average 13 on the horizontal zone on the level at 120.35.

Key Levels

Resistance Levels: 123.37, 122.32, 121.47

Support Levels: 119.24, 117.08, 115.83

EURJPY Long term Trend: Bearish

The current development on the daily time frame indicates that a long term bottom is formed on the level at 115.83. A decisive break of the level at 120.35 support turned resistance may confirm this scenario and lead to a further increase in channel resistance (currently at 124.31).

Activity from there would determine if the long term trend has reversed. As for the moment, a new rise is anticipated as long as the support on the level at 117.08 will be maintained.

EURJPY Short term Trend: Bearish

On the contrary, there is no change in the EURJPY trend as we still consider price movements from the level at 121.47 as a consolidation. The downside may be limited by the level of 119.24 support.

However, on the upside breakout of the level at 121.47 may advance the move from the level at 115.86 to the level at 123.37 resistance. Although the firm breakout of the level at 119.24 may indicate the 115.83 increase is over and the intraday bias may be altered for the level at 117.08 support.

Instrument: EURJPY
Order: Sell
Entry price: 120.35
Stop: 121.47
Target: 117.08

Note: Learn2Trade.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

Bitcoin (BTC) Price Analysis – More Serious Drops Lies Ahead For Bitcoin

The bears have continued to stay in the market as Bitcoin’s extend support to the $8500 zone overnight. Due to the price drop, the market has currently recorded a loss of about -1.2.6%. This time, if the $8500 support fails to suppress selling pressure, Bitcoin would further look for lower support.

Bitcoin (BTC) Price Analysis: Weekly Chart – Bearish

Key resistance levels: $8880, $9000, $9200
Key support levels: $8500, $8300, $8100

Bitcoin is looking bearish on the weekly chart, although it’s a necessary pullback which is likely to resume buying soon. But looking at the previous candle close, the bearish setup is just building up. We may see a weekly close of $8100 if the selling pressure elapses. Meanwhile, Bitcoin held immediate support at $8300 which could be the next selling target.

BTCUSD, Weekly Chart – November 15

However, if the new support ($8500) can hold well, BTC could look for resistance around the $8800. Still, we need a weekly close above the $9000 resistance before we can validate a positive move. Once we clear the resistance, Bitcoin might reach $12000 in a couple of days. Currently, the technical indicators are on the downside, suggesting a bearish continuation.

Bitcoin (BTC) Price Analysis: Hourly Chart – Bearish

Looking at the hourly chart, Bitcoin is undergoing a lot of bearish pressure over the past few days. The latest price drop has made BTC to now trade in the $8500 zone. It appeared the market is looking for support around the $8000. It may take a few days for Bitcoin to reach this support due to the recent slow movement in price.

BTCUSD, Hourly Chart – November 15

However, $8400 and $8300 may come in play soon. On the upside, there’s no bullish sign for BTC at the moment. Nevertheless, the $8700 and $8800 resistance may be explored if the bulls can push well. The technical RSI and MACD are defiantly bearish to show that Bitcoin is weak at the moment.

BITCOIN SELL SIGNAL

Sell Entry: $8688
TP: $8515 / $8444
SL: 8750

AUDUSD: Aussie Plunge on Negative Employment Figures, Runs into Sellers Around the Level at 0.6847

AUDUSD Price Analysis – November 14

Early in the European session, the Australian dollar plunged versus the dollar, deeper past the horizontal line on the level at 0.6810 critical area and has recorded a fresh low in one month. The recent release of the employment figures showed that it had slipped lower and it is the largest in the past three years.

Key Levels

Resistance Levels: 0.7205, 0.7085, 0.6929

Support Levels: 0.6776, 0.6710, 0.6670

AUDUSD Long term Trend: Bearish

In a volatile session, AUDUSD price traded on the downside below the previous day’s low as well as below the horizontal line on the support level at 0.6776. In the longer term, the scenario for medium-term bullish reversal has almost played out.

Meanwhile, for as long as the level at 0.7085 resistance is intact, a larger downtrend from the level at 0.7205 (high) is still in progress towards the level at 0.6710 (low). Although the FX pair displays for the time being (as per its medium-term ranging) with the long-term pattern as yet being bearish.

AUDUSD Short term Trend: Bearish

The breakout of the 0.6810 level by the AUDUSD gives the tilt that the corrective recovery after the level at 0.6670 has already completed at the 0.6929 level. Its intra-day bias has eased out and now towards the level at 0.6670.

Even though a break may allow a deeper downward trend. However, in its upward zone, above the 0.6847 level, short-term resistance could change its neutral intraday bias and provoke recovery. However, the risk may remain down as long as the resistance level at 0.6929 is intact.

Instrument: AUDUSD
Order: Sell
Entry price: 0.6810
Stop: 0.6929
Target: 0.6710

Note: Learn2Trade.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

Bitcoin (BTC) Price Analysis – Bitcoin is Poised For a Breakout, Which Direction?

Bitcoin has been under a lot of bearish pressure over the last few days, making the price to now trade near the $8600 support zones. It may become devastating if BTC price drops below the current support as $8000 could play out in no time. But if the buyers can regroup well, Bitcoin may reclaim the near resistance at $8880. Currently, the entire market cap has dropped below $240 billion compared to when it was trading above it yesterday. This shows that more bearish play may be at hand.

Bitcoin (BTC) Price Analysis: Daily Chart – Bearish

Key resistance levels: $8880, $9000
Key support levels: $8300, $8000

Looking at the daily chart, Bitcoin has continued to float on the $8600 support over two days. If the support breaks, the closest support to watch out for is the $8300 and $8000. There’s a higher chance for that as long as the bears remain in the market. Meanwhile, the weekly short opening has kept BTC price in an ugly scenario. We can see that the RSI has dropped well below the 50 levels.

BTCUSD, Daily Chart – November 14

Conversely, the MACD is showing a weakening moment but has remained in the positive zone. As it is now, it may be difficult for the bulls to regain momentum. But if we can have a daily close above the $8880 resistance, the bulls hope may be rekindled as $9000 resistance would be the next buying target. Once we climb back above the mention supports, Bitcoin should be ready for the next bullish rally.

Bitcoin (BTC) Price Analysis: 4H Chart – Bearish

Since yesterday, Bitcoin reached a fractal level for a breakout on the 4-hour chart but has been keeping us in suspense against the next major move. From a technical standpoint, a big shock-wave is lurking around the corner. For a down surge, immediate support lies at $8400, $8200 and $8000. This could make the technical indicators to slip their bearish zone the more.

BTCUSD, 4H Chart – November 14

If an upsurge occurs, Bitcoin is most likely to spike to the previous high at $10350. However, BTC needs to reclaim the $8800, $8880 and $9000 resistance before we can consider a breakout. Looking at the RSI indicator, Bitcoin is climbing slowly to signal a bullish divergence, although still struggling below the 50 levels. Inversely, the MACD is negative but keeping a sideways movement to reveal the recent squeeze in the market.

BITCOIN SELL SIGNAL

Sell Entry: $8677
TP: $8550
SL: 8942

In a Lackluster Momentum, GBPJPY Trends Within the Prior Day’s Range

GBPJPY Price Analysis – November 13

GBPJPY is trending within the prior day’s range after its unable to build on its gains recent gains as the sellers tried to take advantage and may end the day below its opening price but in a lackluster momentum.

Key Levels

Resistance Levels: 148.66, 146.57, 141.50

Support Levels: 135.49, 130.44, 126.54

GBPJPY Long term Trend: Bullish

In the daily picture, the consolidating structure from the level at 126.54 (low) remains in a formative stage with the advance from the level at 130.44 as the second stage. However, a further advance may be recorded back to the level at 146.57/148.66 resistance.

Meanwhile, for the current scenario, solid resistance from here expects to restrain the upward advance. Although, this may stay as the favored scenario for as long as the level at 135.45 resistance turned support remains.

GBPJPY Short term Trend: Ranging

On the flip side of the 4-hour time frame, the intraday bias of the FX pair stays neutral as the consolidation from the level at 141.50 is extending. Whereas a deeper plunge here may not be out of consideration.

Nevertheless, the downward momentum may be contained above the level at 135.49 resistance turned support to bring about another bounce upside where the break of the level at 141.50 may reactivate the advance from the level at 126.54 towards the 148.66 key resistance.

Instrument: GBPJPY
Order: Buy
Entry price: 135.49
Stop: 130.44
Target: 146.57

Note: Learn2Trade.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

Bitcoin (BTC) Price Analysis – Bitcoin Remains Under Bearish Control But RSI Suggests Bullish Divergence

Bitcoin’s volatility has continued to expand downward after losing the $9000 support (now resistance) again. Since the weekly opening, the price has been struggling below this support a bearish action continues. Yesterday, Bitcoin made a new weekly low at around the $8600 but has managed to recover back to $8760 – where BTC is currently changing hands. However, we may close the weekly trade at $8000 if the bears remain in the market. Nonetheless, $9000 is an important resistance for the next bullish impulsive.

Bitcoin (BTC) Price Analysis: Daily Chart – Bearish

Key resistance levels: $9000, $9995, $10350
Key support levels: $8600, $8300, $8000

On the daily chart, Bitcoin is still sitting on the grey horizontal support at $8600 which at the same time makes the market to retest the channel’s resistance. If this support can hold well, we should expect an insane price increase in not time, although the $9000, $9995 and $10350 resistances are likely to play out.

BTCUSD-Daily-Chart-November-13

Interestingly, the RSI has suggested a bullish divergence for a while, now looking for a level on the yellow diagonal support. Also, the MACD has signalled a crossover but appears a bit weak at the moment. Should the $8600 fail to contain bearish pressure; Bitcoin may plunge to $8300 and $8000 within a blink of an eye.

Bitcoin (BTC) Price Analysis: 4H Chart – Bearish

While the short-term market continues to show a sign of a bearish bias, Bitcoin is yet to find strong support for a bullish move. As appeared on the chart, BTC has extended its bearishness to $8600 over the last 24-hours of trading, following a quick price rejection at $8900. If the bearish pressure is sustained throughout this week, Bitcoin may further find a bottom at $8400, $8200 and $8000.

BTCUSD, 4H Chart – November 13

From all indication, the MACD revealed that the market remains under bearish control. Additionally, the RSI is showing a sign of weakness due to the recent price drop. We can expect a positive move if the buyers can regroup well. In view of that, the $9000, $9200 and $9400 resistance would be the next buying target for the bulls.

BITCOIN BUY SIGNAL

Buy Entry: $8757

TP: $8900

SL: 8570

Breaking Downwards, USDCHF Records Fresh Low Session

USDCHF Price Analysis – November 12

USDCHF is posting fresh session lows in today’s trading as sellers took control of the market while breaking downwards past the moving average 5 heading towards moving average 13. As it is, in the event of a further break downwards and the price momentum continues, it will open the market for CHF bids.

Key Levels

Resistance Levels: 1.0231, 1.0126, 1.0027

Support Levels: 0.9911, 0.9851, 0.9659

USDCHF Long term Trend: Bullish

Technically for the current session, the USDCHF plunged back under both resistance horizontal levels on the level at 0.9964 and 0.9929 respectively. However, in the medium term, the USDCHF outlook stays neutral as it remains within a range of the level at 0.9659/1.0231.

Meanwhile, the decisive break of the level at 1.0231 is required to display the resumption of an uptrend. Nevertheless, more consolidation and ranging may be recorded with the risk of another plunge. The FX pair’s trend is short-term downtrend, although likely a correction, as the long-term trends remain bullish.

USDCHF Short term Trend: Ranging

On the 4-hour time frame, it’s intraday bias stays neutral initially. A likely advance is expected as long as the level at 0.9911 minor support is intact. The ranging from the level at 1.0126 may have completed on the level at 0.9851 as at present.

Past the level at 0.9978 may target the resistance on the level at 1.0027 high. A break from there may re-activate the rally from the level at 0.9659. Below a break of the level at 0.9911 will turn bias back to the downside for a retest of the level at 0.9851.

Instrument: USDCHF
Order: Sell
Entry price: 0.9929
Stop: 0.9978
Target: 0.9851

Note: Learn2Trade.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

Bitcoin (BTC) Price Analysis – Bitcoin Is Preparing For a New Move, Where?

From $9200, Bitcoin has established new support at $8600 about six hours following a -2.43% price loss at the moment. The $800 price cut has driven Bitcoin all the way to the channel’s support on the hourly chart. Meanwhile, on the daily chart, BTC is currently holding support on the channel’s resistance. All in all, the $8600 has halted the latest bearish swing. Rebound is likely if the above price can hold firmly.

Bitcoin (BTC) Price Analysis: Daily Chart – Bearish

Key resistance levels: $9000, $9400, $9994
Key support levels: $8600, $8300, $8000

Following our previous crypto trading signals, Bitcoin has now found support on the grey horizontal support at $8600 along with the channel’s resistance which has been suppressing selling pressure since late November. If the $8600 support acts strong, BTC is likely to retrace back to $9000 and $9400 – where the primary cryptocurrency struggled to surpass throughout last week.

BTCUSD, Daily Chart – November 11

If the intraday traders can reclaim the $9400 resistance, $9994 would come into play. However, there’s no certainty that the current support will hold. In case a break occurs, Bitcoin may locate support on the grey ascending trend line but $8300 and $8000 may be encountered. Currently, the RSI is on the downside due to the past 15 days of decline. Bullish continuation is likely if the RSI 40 can provide a rebound. On the MACD, the bulls are dominant but might lose control if a bearish cross signals.

Bitcoin (BTC) Price Analysis: Hourly Chart – Bearish

As predicted earlier today on our crypto trading signals, Bitcoin has eventually fallen to the channel’s lower boundary but has seen a quick recovery back above the grey horizontal support line. BTC is now priced at around $8748. Following the channel formation, Bitcoin is preparing for another upward move. We can see that the market is undergoing consolidation. However, $8900, $9000 and $9125 resistance is likely to play out concurrently.

BTCUSD, Hourly Chart – November 11

At the moment, Bitcoin is sitting on the RSI 30. In the opposite direction, Bitcoin may extend its bearishness if the channel’s lower boundary fails to function as support. Nevertheless, Bitcoin might need to break the $8600 before we can see a new low at $8400 and $8200 on the hourly chart. The MACD has shown that the bearish bias is not yet over.

BITCOIN BUY SIGNAL

Buy Entry: $8670
TP: $9000
SL: 8550

EURUSD Likely to Hold on to Its Support as Bearish Momentum Faints Slightly

EURUSD Price Analysis – November 11

In the European session, at GMT10:00 hrs, the pair is trading at 1.1032, with the EUR trading 0.13% higher against the USD from Friday’s close. And for the 24 hours to 23:00 GMT, the EUR plunged approximately 0.28% against the USD and closed at 1.1019 on Friday, amid the eurozone ongoing political uncertainty.

Key Levels

Resistance Levels: 1.1450, 1.1280, 1.1178

Support Levels: 1.0000, 1.0962, 1.0879

EURUSD Long term Trend: Bearish

The common European currency is expected to hold at support on the level at 1.1016, and a fall through could take it to the next support level of 1.1000. The pair is expected to find its first resistance on the level at 1.1055, and a rise through could take it to the next resistance level of 1.1073.

In the long term picture, the initial rebound from the level at 1.0879 is viewed as a corrective scenario. However, in the event of another advance, upside may be restricted by a retracement of the level at 1.1280 to 1.0879 at 1.1450. Although, a sustained break of the level at 1.1450 may alter this bearish pattern and bring more advancement of the correction.

EURUSD Short term Trend: Bearish

EURUSD intraday bias stays lightly on the downside in the present while it stays on its medium-term support on the level at 1.1016. A corrective rebound from the level at 1.0879 is expected to be over on the level at 1.1178 as of now. A further plunging may be seen to retest the level at 1.0879 low.

Meanwhile a break there may resume a larger downtrend from the level at 1.1178. Above its near term resistance on the level at 1.1092 may alter its intraday bias neutrality hence, the FX pair displays weakness in the short-term (as per its long term downtrend).

Instrument: EURUSD
Order: Sell
Entry price: 1.1055
Stop: 1.1092
Target: 1.0879

Note: Learn2Trade.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

Bitcoin (BTC) Price Analysis – Bearish Action Continues As Bitcoin Follows Channel Pattern

Bitcoin is back on a selling mode after surging all the way from $8800 to $9250 (Bitfinex) yesterday. Now, the price has rolled back to the $8800, where BTC held as support since November 8. The latest bearish actions have brought the market down by -0.62% overnight as the market cap drops below $160 billion. However, Bitcoin may create an uglier scenario if the $8600 support breaks.

Bitcoin (BTC) Price Analysis: 4H Chart – Bearish

Key resistance levels: $9000, $9128, $9250
Key support levels: $8600, $8400, $8200

After spiking seeing a sharp rise from $8800, Bitcoin was unable to continue buying pressure to the channel’s resistance at $9400, although the price managed to touch $9250 before it was rejected. The price has dropped back beneath $9000 and BTC is now targeting a channel’s lower boundary at $8500 before we can see an upward correction. For now, key resistance holds at $9000 and potentially $9128 and $9250 resistance.

BTCUSD, 4H Price Chart – November 11

If the channel’s lower boundary fails to act as a support for Bitcoin on the 4-hour chart, a price break is likely to play out. Below the channel, immediate support lies at $8200 and $8000. However, BTC saw a sharp fall after testing the yellow diagonal resistance on the RSI 55. The MACD has continued to show that the bears are dominant at the moment.

Bitcoin (BTC) Price Analysis: Hourly Chart – Bearish

Prior to the last 24-hours price action, Bitcoin is now shaping inside a descending channel which is slowly forming since November 4.  BTC sharply reversed after locating resistance on the channel’s upper boundary. Currently, the price is waiting at $8800 but we can expect the next selling pressure to reach the $8700 and $8600 support to meet the channel’s lower boundary.

BTCUSD, Hourly Price Chart – November 11

However, Bitcoin seemed to have found support on the lower band of the RSI following the rejection at the upper band. If the RSI 30 can bolster, we can expect a rebound to $900 and $9128 resistance. Looking at the bearish setup, the market is more likely to reach the $8600 support before rebounding. As we can see, the MACD is still suggesting that the bears are present.

BITCOIN SELL SIGNAL

Sell Entry: $8800
TP: $8612
SL: 9022