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The pair continues to move in a downtrendHaving formed the "Double top" figure, our pair is directed downwards and is able to stand under the mark of 1.22 at the moment. Prior to this, having found the resistance level near the 1.2235 mark, it steadily rushed down. If we consider this motion from the point of view of the Elliott wave theory, then we can observe the formation of the third wave, which must overcome the levels of 1.2180 and 1.2150. So we recommend taking short positions by setting take-profits near these levels. Otherwise, if the pair fails to consolidate below these levels, we assume the entry of the price into the corridor with the lower limit of 1.2180.
Short
by SuperForex
The pair has crossed the resistance lineOur pair has gone beyond the descending channel and is currently demonstrating growth. Against the backdrop of investors' expectations that the interest rate will be raised at the next Fed meeting, investors are returning their interest in the dollar. Given that our price has received a new upward support line we can expect further growth in the pair. In case the pair falls below this level we anticipate the possibility that the boundary of the descending channel has shifted by the channel value from the resistance level.
by SuperForex
We work by levelsAfter our price has come out of the triangle, we observe how the levels are worked out. At the moment, as we expected the price went up, but found a resistance level near the mark of 1.2380. And after yesterday's trading, the support level is 1.23000. We expect that our pair will again test the resistance level and try to consolidate above the 1.24 mark. So at the moment you can search for points to enter long positions and set take profit at a level around 1.24
Long
by SuperForex
Buyers wait !!! Probably there will be a good short term ( 2-3 days) oportunity for buyers if price go under 6000. So you need to be patient. We will see what is going to happen at that level. Exit position should be at 8000-8500 level. NOTE : SOME OF MY LEVES FROM PREVIOUS CHARTS WERE REMOVED. We are still in downtrend and i honestly don't believe that the price can go higher than 8500- 9000 for long time. It may sorprise me again. But I don't think so. Not this time. VIPosition-level 6000
BITFINEX:BTCUSDLong
by trendi484