BITCOIN Analysis for July 31, 2018

Trading 31 juil 2018 Commentaire »

Bitcoin has been quite impulsive with bearish swings today which made the price break below $8,000, defying the sentiment about pushing higher with a target towards $10,000 area. Despite the today's impulsive bearish pressure, the price is still expected to push higher and the overall bullish bias is still intact as the dynamic level of 20 EMA is expected to work as important support for a while. The bearish pressure today engulfed the previous bullish corrective momentum. However, as the price remains above $6,500 with a daily close, the bullish bias is expected to continue to push the price higher with a target towards $10,000 in the coming days.

SUPPORT: 6500

RESISTANCE: 8000, 10000

BIAS: Long-term Bullish, Short-term Bearish

MOMENTUM: Volatile

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Wave analysis of EUR / USD for July 31. The pair remains inside the narrowing corridor

Trading 31 juil 2018 Commentaire »

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Analysis of wave counting:

During the trades on Monday, the currency pair EUR / USD added about 50 percentage points and is still traded inside a tapering corridor. The fifth time the pair tested the upper line forming the corridor, and the attempt of its breakthrough is again unsuccessful. If the next attempt is still ended with the breakthrough of this line, then the entire wave pattern will require additions. Also in this case, the instrument will proceed to build an upward set of waves with the first targets, about 1.1834, which corresponds to 200.0% of Fibonacci. However, the working option is now still the option of reducing the pair within the proposed wave 5.

The objectives for the option with sales:

1.1507 - 100.0% of Fibonacci

1.1444 - 127.2% of Fibonacci

The objectives for the option with purchases:

1.1834 - 200.0% of Fibonacci

1.1957 - 161.8% of Fibonacci

General conclusions and trading recommendations:

The correction wave 4 is still characterized as complete. Thus, I recommend continuing the formation of the pair's sales with the aim of building wave 5 of the downward trend section with targets located near the marks of 1.1507 and 1.1444, which corresponds to 100.0% and 127.2% of Fibonacci. To buy a pair, I recommend returning after the breakout of the upper line of the narrowing corridor and the refinement of all wave counting.

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The daily review of EUR / USD as of July 31. Ichimoku Indicator

Trading 31 juil 2018 Commentaire »

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EUR / USD

Uncertainty, which lasts for quite a long time, is preserved. The initiative is now on the side of the players to raise, they again rose to the resistance of 1.1708 (the monthly Fibo Kijun) and make an attempt to gain a foothold in the daytime cloud. The way out of the zone of uncertainty, through the update of the maximum extremes (1.1750 - 1.1791 - 1.1852), will allow players to continue to rise on the rise. Landmarks for recovery are weekly levels (1.1908 - 1.2032) and the upper boundary of the daytime cloud. Bears to leave the zone of uncertainty, also need to overcome the extremes (1.1575 - 1.1508), then the main task for them will be the breakdown of the lower boundary of the weekly cloud and the formation of the downside target.

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Lateral movement led to the fact that the pair is spinning around the clouds of younger timeframes, not working out some goals for the breakdown of the cloud. At the moment, the advantage is on the players' side to raise. The main task for them is to exit the zone of uncertainty. Support can be noted on 1,1681 - 1,1655 - 1,1628. The fastening below will give the initiative to the hands of bears, for which the desire to leave the zone of uncertainty will also serve as the main task in the first stage.

Indicator parameters:

All time intervals 9 - 26 - 52

The color of indicator lines:

Tenkan (short-term trend) - red,

Kijun (medium-term trend) - green,

Fibo Kijun is a green dotted line,

Chinkou is gray,

Clouds: Senkou Span B (SSB, long-term trend) - blue,

Senkou Span A (SSA) - pink.

The color of additional lines:

Support and resistance MN - blue, W1 - green, D1 - red, H4 - pink, H1 - gray,

Horizontal levels (not Ichimoku) - brown,

Trend lines - purple.

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Overview of the GBP / USD as of July 31, 2018

Trading 31 juil 2018 Commentaire »

GBP / USD

The British pound on Monday succumbed to the influence of the euro, but grew by less than 22 points. The growth was stopped by the resistance of the trend line on the daily chart and the expectations of the meeting of the Bank of England on Thursday. The market probability of raising the rate at this meeting is 90%. Such a high probability (determined by futures on rates) causes bewilderment. The Bank of England did not give instructions for raising the rate at this meeting, and traditionally, there are no false signals, even the Fed and the ECB switched to a clear communication. The Bank of Japan stands alone. A small optimism pound gave yesterday the growth of lending, private individuals in June were issued 5.4 billion pounds against expectations of 5.3 billion pounds.

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Today, important data will be released in the United States. Personal incomes of consumers in June are expected to grow by 0.4%, expenses also by 0.4%. Business activity in Chicago is expected to decrease from 64.1 to 61.9, consumer confidence for the current month is expected to increase slightly from 126.4 to 126.5.

We are waiting for the price reduction to support the trend line 1.3019, after which, following the meeting of the Bank of England, the decline to the next support at 1.2800.

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Fractal analysis of GOLD as of July 31

Trading 31 juil 2018 Commentaire »

Forecast for July 31:

Analytical review on the scale of H1:

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According to Gold, the key levels on the scale of H1 are: 1250.88, 1242.62, 1239.59, 1235.48, 1229.05, 1220.96, 1218.14 and 1213.01. Here, we follow the formation of the upward structure of July 19. The continued upward movement is expected after the breakdown of 1229.05. Here, the first target is 1235.48 and the breakdown of which will allow us to count on the movement to the level of 1239.59 and in the corridor of 1239.59 - 1242.62 is the consolidation. The potential value for the top is the level of 1250.88, upon reaching this level we expect a pullback downwards.

The range of 1220.96 - 1218.15 is the key support for the ascending structure. Its passage by the price will have to develop the downward movement. In this case, the first target is 1213.01.

The main trend is the upward structure of July 19, the stage of deep correction.

Trading recommendations:

Buy: 1229.20 Take profit: 1235.20

Buy: 1235.50 Take profit: 1239.40

Sell: Take profit:

Sell: 1218.00 Take profit: 1213.00

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Fractal analysis of major currency pairs as of July 31

Trading 31 juil 2018 Commentaire »

Dear colleagues.

For the currency pair Euro / Dollar, the price forms a local potential from July 27 to continue the upward trend. For the Pound / Dollar currency pair, the price is in correction and the continuation of the upward movement is expected after the breakdown of 1.3167. For the currency pair Dollar / Franc, the price forms a local descending structure from July 27. For the currency pair Dollar / Yen, the continuation of the movement downwards is expected after the passage at the price of the noise range of 110.84 - 110.60. For the currency pair Euro / Yen, the price forms potential initial conditions for the development of the upward cycle. For the Pound / Yen currency pair, we also expect the departure to the correction zone from the downward trend and the formation of the potential for the top.

Forecast for July 31:

Analytical review of currency pairs in the scale of H1:

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For the currency pair Euro / Dollar, the key levels on the scale of H1 are: 1.1853, 1.1819, 1.1794, 1.1754, 1.1723, 1.1693, 1.1680, 1.1655 and 1.1615. Here, the price forms a local structure for the continuation of the development of the upward trend of July 27. The continued upward movement is expected after the breakdown of 1.1723. In this case, the target is 1.1754 and near this level is the consolidation. The break of the level of 1.1755 should be accompanied by a pronounced upward movement to the level of 1.1794. The breakdown of 1.1794 will allow us to count on the move to 1.1819, near which we expect consolidation, as well as a possible pullback in the correction. The potential value for the top is the level of 1.1853. In general, the current price is in the second time zone, where we expect final registration of the initial conditions.

The short-term downward movement is possible in the corridor of 1.1693 - 1.1680 and the breakdown of the last value will lead to an in-depth correction. Here, the target is 1.1655 and this level is the key support for the top.

The main trend is a local structure for the top of July 27.

Trading recommendations:

Buy: 1.1725 Take profit: 1.1752

Buy 1.1756 Take profit: 1.1792

Sell: 1.1680 Take profit: 1.1660

Sell: 1.1650 Take profit: 1.1620

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For the Pound / Dollar currency pair, the key levels on the H1 scale are: 1.3356, 1.3303, 1.3228, 1.3200, 1.3167, 1.3111, 1.3079 and 1.3031. Here, we continue to follow the development of the upward structure of July 19 and at the current time, the price is in the adjustment area. The continued upward movement is expected after the breakdown of 1.3167. In this case, the first target is 1.3200. The passage at the price of the noise range of 1.3200 - 1.3228 should be accompanied by a pronounced upward movement. Here, the target is 1.3303 and near this level is the consolidation. The potential value for the top is the level of 1.3356 and the probable achievement is July 26 - 27.

The short-term downward movement is possible in the corridor 1.3111 - 1.3079 and the breakdown of the latter value will lead to the formation of a downward structure. In this case, the target is 1.3031.

The main trend is the upward structure from July 19, the correction stage.

Trading recommendations:

Buy: 1.3167 Take profit: 1.3200

Buy: 1.3200 Take profit: 1.3226

Sell: 1.3110 Take profit: 1.3080

Sell: 1.3076 Take profit: 1.3031

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For the currency pair Dollar / Franc, the key levels on the scale of H1 are: 0.9935, 0.9913, 0.9897, 0.9865, 0.9845, 0.9832, 0.9792 and 0.9763. Here, the price forms a local structure for the downward movement of July 27. The continued downward movement is expected after the breakdown of 0.9865. In this case, the target is 0.9845 and near this level is the consolidation. The passage at the price of the noise range of 0.9845 - 0.9832 should be accompanied by a pronounced downward movement. In this case, the target is 0.9792. The potential value for the bottom is the level of 0.9763 and near this level, we expect consolidation, as well as a possible rollback to the top.

The short-term uptrend is possible in the corridor of 0.9897 - 0.9913 and the breakdown of the last value will lead to an in-depth correction. Here, the target is 0.9935 and this level is the key support for the downward structure.

The main trend is a local downward structure from July 27.

Trading recommendations:

Buy: 0.9897 Take profit: 0.9911

Buy: 0.9915 Take profit: 0.9933

Sell: 0.9865 Take profit: 0.9845

Sell: 0.9830 Take profit: 0.9794

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For the currency pair Dollar / Yen, the key levels on the scale of H1 are: 111.80, 111.42, 111.21, 110.84, 110.60, 110.15 and 109.82. Here, we follow the formation of the medium-term descending of July 19. The continuation of the movement downwards is possible after the passage at the price of the noise range of 110.84 - 110.60. In this case, the target is 110.15, upon reaching this level is the consolidation. The potential value for the bottom is the level of 109.82, from which we expect a rollback to the top.

The short-term upward movement is possible in the corridor of 111.62 - 111.89 and the breakdown of the last value will lead to an in-depth correction. Here, the target is 112.29 and this level is the key support for the downward structure from July 19.

The main trend is the formation of the medium-term structure of July 19.

Trading recommendations:

Buy: 111.62 Take profit: 111.87

Buy: 111.92 Take profit: 112.26

Sell: 110.58 Take profit: 110.17

Sell: 110.13 Take profit: 109.84

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For the Canadian Dollar / Dollar currency pair, the key levels on the H1 scale are: 1.3158, 1.3131, 1.3080, 1.3052, 1.2988, 1.2945, 1.2881 and 1.2845. Here, the price is in the 13th time zone and entered the equilibrium state. The short-term downward movement is possible in the range of 1.2988 - 1.2945. We consider the level of 1.2881 to be a potential value for the downward trend, after which consolidation is possible, and also a rollback to the top. At the moment, the price is in the final in the 8th time zone for the downward structure from July 20.

The short-term upward movement is possible in the corridor of 1.3052 - 1.3080 and the breakdown of the last value will lead to an in-depth correction. Here, the target is 1.3131 and the range of 1.3131 - 1.3158 is the key support for the top.

The main trend is the equilibrium state.

Trading recommendations:

Buy: Take profit:

Buy: 1.3085 Take profit: 1.3130

Sell: 1.2985 Take profit: 1.2945

Sell: 1.2942 Take profit: 1.2884

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For the Australian Dollar / Dollar currency pair, the key levels on the H1 scale are: 0.7592, 0.7551, 0.7522, 0.7477, 0.7434, 0.7410, 0.7381, 0.7356 and 0.7324. Here, we follow the development of the upward structure of July 20. The continued upward movement is expected after the breakdown of 0.7434. In this case, the first target is 0.7477 and near this level is the consolidation. The breakdown of 0.7477 will allow us to count on the move to 0.7522 and in the corridor of 0.7522 - 0.7551 is the short-term upward movement, as well as consolidation. The potential value for the top is the level of 0.7592, after reaching this level we expect a pullback downwards.

The short-term downward movement is possible in the corridor of 0.7381 - 0.7356 and the breakdown of the last value will have to the development of a downward structure. Here, the first target is 0.7324.

The main trend is the upward structure from July 20, the correction stage.

Trading recommendations:

Buy: 0.7436 Take profit: 0.7475

Buy: 0.7480 Take profit: 0.7520

Sell: 0.7378 Take profit: 0.7358

Sell: 0.7354 Take profit: 0.7326

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For the Euro / Yen currency pair, the key levels on the scale of H1 are: 131.39, 131.04, 130.80, 130.44, 130.13, 129.81, 129.58 and 129.12. Here, the price forms the potential for the development of the upward structure of July 27. The continuation of the upward movement is expected after the breakdown of 130.13. In this case, the target is 130.44 and the breakdown of which should be accompanied by a pronounced upward movement to the level of 130.80 and in the corridor of 130.80 - 131.04 is the consolidation. The potential value for the top is the level of 131.39, from which we expect a pullback downwards.

The short-term downward movement is possible in the corridor of 129.81 - 129.58 and the breakdown of the last value will have to form a local descending structure. Here, the potential target is 129.12.

The main trend is the formation of the potential for the top of July 27.

Trading recommendations:

Buy: 130.15 Take profit: 130.40

Buy: 130.50 Take profit: 130.80

Sell: 129.80 Take profit: 129.60

Sell: 129.50 Take profit: 129.15

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For the Pound / Yen currency pair, the key levels on the scale of H1 are: 148.11, 147.37, 146.89, 146.24, 145.01, 144.33 and 143.46. Here, we expect the design of the potential for the upward movement, for which a breakdown at the level of 146.30 is required. In the corridor of 145.01 - 144.33, we expect short-term downward movement, as well as consolidation. The potential value for the bottom is the level of 143.46, the movement to which we expect after the breakdown of 144.30.

We expect the correction to continue after the breakdown at 146.24. In this case, the first target is 146.89. The short-term upward movement is possible in the corridor of 146.90 - 147.37 and the breakdown of the last value will have to develop an ascending structure. Here, the first potential target is 148.11.

The main trend is a downward structure from July 16, we expect a correction.

Trading recommendations:

Buy: 146.30 Take profit: 146.85

Buy: 146.90 Take profit: 147.35

Sell: 145.00 Take profit: 144.45

Sell: 144.25 Take profit: 143.55

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Dollar Drops After U.S. Personal Income And Spending Data

Trading 31 juil 2018 Commentaire »

After the release of U.S. personal income and outlays for June at 8.30 am ET Tuesday, the greenback fell against its major counterparts.

The greenback was quoted at 111.46 against the yen, 0.9869 against the franc, 1.1744 against the euro and 1.3161 against the pound around 8:33 am ET.


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Loonie Climbs After Canada GDP Data

Trading 31 juil 2018 Commentaire »

Following the release of Canada GDP data for May and industrial product price index for June at 8:30 am ET Tuesday, the loonie strengthened against its major counterparts.

The loonie was trading at 85.72 against the yen, 0.9667 against the aussie, 1.5268 against the euro and 1.2998 against the greenback around 8:31 am ET.


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*Canadian Real Gross Domestic Product Up 0.5% In May

Trading 31 juil 2018 Commentaire »

Canadian Real Gross Domestic Product Up 0.5% In May


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*U.S. Personal Income Climbs 0.4% In June, Personal Spending Rises 0.4%

Trading 31 juil 2018 Commentaire »

U.S. Personal Income Climbs 0.4% In June, Personal Spending Rises 0.4%


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