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forex-academy

Gold is heading south and $1,480 may be in trouble. This isn’t the first time that this level has been tested and you don’t have to be a technical analyst to see that a break of it could be damaging

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USD/JPY has violated the bearish channel which was extending substantial resistance at 107.500 over the series of dollar supported news. The Bullish breakout of this channel is now extending support at 107.400 while the resistance stays at 107.800 area. The MACD is suggesting a bullish trend , as the series of histogram remains green above the crossover zone.

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The single currency Euro has violated the double bottom support level of 1.0945 and managed to close daily candle below this level. It's suggesting further sell-off looming around 1.0945 area. Continuation of selling may lead the EUR/USD towards 1.0850 today.

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On Monday, the market trades in sideways range. On the violation of sideways channel, the AUD/USD may stay bearish below 0.6760 area today until 0.6740

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Ripple still holding in a range, although thechnical indicators point for a continuation of the trend (downwards).

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Ethereum weakened by the bitcoin weakness and the price is now ready to break the $166 support.

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bitcoin broked the $8,000 level. nect stop: 7,500

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Considering the violation of sideways channel, the AUD/USD may stay bearish below 0.6760 area today.

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The bearish EURUSD's bears refrain from respecting the oversold condition of 14-day relative strength index (RSI), May 2017 low near 1.0840 and April 2017 gap of 1.0740 will flash on sellers’ radar.

forex-academy

USD/JPY has violated the bearish channel which was extending substantial resistance at 107.500 over the series of dollar supported news. The Bullish breakout of this channel is now extending support at 107.400 while the resistance stays at 107.800 area. The MACD is suggesting a bullish trend, as the series of histogram remains green above the crossover zone.

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The price action suggests it coud break the 0.236 level and move up to test the 0.256. MACD is turning to a bullish phase.

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Ethereum forming a base at a support level. The MACD is soon to make a bullish crossover. A possible target area for a bounce is $180-181

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bitcoin creating a bottom. We see that the price is respecting the 200-day MA and also the lower side of the descending pennant. So, a possible scenario is a new leg up to the upper side of the channel.

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Bitcoin does not bounces. That is odd. We would have expected that after such a huge sellof, there would be a bounce. That is happening on the rest of the coins but not on the Bitcoin. The outlook is not pretty.

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This chart correponds to the example commented in our educational article "Elliott Wave Theory and Fibonacci ."

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The sharp selloff made yesterday points to the visit of the $61 level again.

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Ripple went down from near 0.33 to 0.266. Now the price has bounced from that level but technicals are still bearish. If this support holds it could create the base for a new upward movement. It it fails it might visit 0.25 again.

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Ethereum is between 0.38 and 0.5 Fibo level. The price action is still controlled by sellers but this may be a place for buyers to get in if Bitcoin starts getting buyers as well.