Forex & Bitcoin analysis May 16, 2018

By | May 16, 2018

Forex analysis

Euro trading at 1.1810, Euro trying to recover from its low which made in morning session. Eur/Usd up approx 40 pips from its lowest point of the day. Euro recovering as dollar is cooling off at the moment at 92.90 after a good high of 93.25.

A good support on this major forex pair stands at 1.1740, If traders tank this base and manage to sustain trade below our support. Then expect good pressure in euro upto 1.1700- 1.1640 today.

A good resistance on this major forex pair stands at 1.1850, If traders manage to break this hurdle and sustain trade above our resistance. Then expect good recovery in euro upto 1.1900- 1.1940 today.

Euro analysis conclusion: Euro trend is flat to positive for now. Wait for some more rise to confirm the trend and we may recommend a buy in this forex pair.

Usd/Jpy trading at 110.21, It made low of 110.06 and then bounced back despite dollar cooling off. A good support on this major forex pair stands at 109.90. Once traders break this support and manage to sustain trade below our support. Then expect good pressure in usd/jpy upto 109.50- 109.10 today.

A good hurdle on this major forex pair stands at 110.55, If traders take this hurdle out and manage to sustain trade above our resistance. Then expect good firepower in usd/jpy upto 110.90- 111.30 today.

Usd/Jpy trend is flat to weak for now, But stay cautious in this currency pair.

Bitcoin ( BTC/USD) analysis

Bitcoin (BTC/USD) trading at 8175$, BTC tested above 8500$ today and made low of 8075$. Finally we are seeing 4-6% move unlike 10-15% move in bitcoin since some days. A good support in this major cryptocurrency stands at 7980$, If traders break this support and manage to sustain trade below our support. Then expect good pressure in bitcoin upto 7700$ – 7500$ today.

A good hurdle on this major cryptocurrency stands at 8550$, If traders take this hurdle out and manage to sustain trade above our resistance. Then expect good firerpower in bitcoin upto 8800$ – 9100$ today.

Bitcoin analysis conclusion: Bitcoin analysis is flat to positive for now, Its a good buy with stoploss of our support.

Read Dow Jones and Gold price forecast of today here

More will update to our signals subscribers.

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