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XRP is still moving without direction. The key levels to watch are: 0.253 for bulls and 0.2468 for bears.

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Ethereum continues with slight advances in an upward channel. The mid-line of the Bollinger Band has been holding the price.

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The price is moving between 8,200 and 8,500. a break of one of these levels will signal the future direction for the price.

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This chart is part of our educational article "Trading the Elliott Wave Principle - Part 1."

forex-academy

This chart is part of our educational article "Trading the Elliott Wave Principle - Part 1."

forex-academy

Gold gained on Wednesday after weaker-than-expected U.S. economic data exacerbated concerns about global growth and increased prospects of further interest rate cuts, driving investors towards the safe-haven metal.

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GBP/USD has crossed below 38.2% Fibonacci retracement level of 1.2340 and currently it's holding below this level at 1.2280. Cable can further drop lower towards the 50% Fibo level at 1.2270 and it's right on spot. Today 1.2270 is a crucial level, and below this, the GBP/USD my trade bearish until 61.8% Fibonacci retracement level of 1.2195.

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USD/JPY violated the horizontal support area of around 108, which is now likely to resist the USD/JPY around 108. On the lower side, the support continues to stay at 107.450 area and 107.200.

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The EUR/USD is likely to continue trading lower due to a violation of 1.0908 level. Below this, the bearish target is expected to be 1.0835 today.

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Litecoin seems to start getting buyers. The price has been supported by the Bollinger mean line. MACD is bullish. A confirmation would be a bar close above $57 which is currently a resistance level.

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Right now XRP is at a support zone. it should supply buyers to fuel more upward moves. If that does not happen it means the bullish candle is a fake upward move to trap buyers.

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ETH price is touching supports right now. These corresponds with the previous top made on Sept. and also the Bollinger mean line. The price may continue lower, to touch the lower side of the channel.

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Ripple is consolidating the bullish candle made yesteday. MACD and Bollinger Bands show XRP has started a bullish movement.

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Ethereum confirms an upward trend making a series of new highs and lows.Technical indicators are in tune. THe price hit resistance ans is retracing. $177 is the support to hold and continue up.

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The USD/JPY violated the bullish channel on the hourly chart, which was extending its support around 107.950 area. On the 4 hour timeframe, the 20 and 50 moving averages are reflecting the bearish trend in the USD/JPY. The Japanese yen may find support at 107.750 against the U.S. dollar along with resistance at 108.465.

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Consider staying bearish below 1.0900 and bullish above the same to capture quick take profits of 50 pips on either side.

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Bitcoin has started a new leg up but right now has been rejected by $8524 level which is also the current 200-day MA level. Some consolidation is needed before this level is broken. MACD and the price moving above +1SD Bollinger line confirms the upward bias.

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This chart is part of our educational article "Trading the Elliott Wave Principle - Part 1."