BITCOIN Analysis for December 28, 2018

Bitcoin has been quite impulsive with bullish gains recently which engulfed a great number of bearish corrective candles with one go. After the price had been rejected off the $4,250 area, it managed to push lower near $3,600 area while sudden impulsive bullish momentum engulfed the previous corrective bearish pressure in the process. Currently the price is residing above 200 EMA again which indicates further bullish pressure in the coming days. The price is expected to push higher towards $4,250 again. The overall structure of Bitcoin is extremely volatile inside the price range of $3,500 to $4,250 area recently. On the other hand, a break above $4,250 could lead to strong bullish momentum with a target towards $5 000 in the future. As the price remains above $3,000 with a daily close, the bullish bias is expected to continue.

SUPPORT: 3,000, 3,500, 3,600

RESISTANCE: 4,000, 4,250, 4,500, 5,000

BIAS: BULLISH

MOMENTUM: VOLATILE

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EUR/USD Approaching Resistance, Prepare For A Reversal

EUR/USD is approaching its resistance at 1.1506 (100% & 61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal swing high resistance) where it is expected to reverse down to its support at 1.1363 (61.8% Fibonacci retracement, horizontal swing low support).

Stochastic (55, 5, 3) is approaching its resistance at 96% where a corresponding reversal is expected.

EUR/USD is approaching its resistance where we expect to see a reversal.

Sell below 1.1506. Stop loss 1.1618. Take profit at 1.1363.

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AUD/JPY Approaching Resistance, Prepare For A Reversal

AUD/JPY is approaching its resistance at 78.69 (61.8% Fibonacci extension, 23.6% Fibonacci retracement, horizontal overlap resistance) where it is expected to reverse down to its support at 77.62 (horizontal swing low support).

Stochastic (55, 5, 3) is approaching its resistance at 94% where a corresponding reversal is expected.

AUD/JPY is approaching its resistance where we expect to see a reversal.

Sell below 78.69. Stop loss 79.39. Take profit at 77.62.

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NZD/USD approaching major descending trend line support, prepare to buy!

NZD/USD is testing major trend line support and we're looking to buy at 0.6665 (descending trend line support, horizontal swing low support) for a bounce to at least 0.6741 profit target (horizontal swing high resistance).

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CAD/CHF approaching major descending trend line support, prepare to buy!

CAD/CHF is testing major trend line support and we look to buy at 0.7226 (descending trend line support, horizontal swing low support) for a bounce to at least 0.7460 profit target (horizontal swing high resistance).

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USD/CAD approaching major ascending trend line resistance, prepare to sell!

USD/CAD is testing major trend line resistance and we look to sell at 1.3650 (ascending trend line resistance, horizontal swing high resistance) for a drop to at least 1.3421 profit target (horizontal swing low support).

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Bitcoin analysis for December 28, 2018

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Trading recommendations:

According to the H4 time - frame, I found that BTC has been trading downwards. The price tested the level of $3.547. I found that there is a breakout of the upward channel in the background, which is a sign that there is a potential change in the structure. I also found that there is a breakout of the support at $3.800, which is another sign of weakness. My advice is to watch for selling opportunities. The downward target is set at the price of $3.110.

Support/Resistance

$3.800 – Intraday resistance

$3.545– Intraday support

$3.110 – Objective target

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USD/JPY analysis for December 28, 2018

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Recently, the USD/JPY pair has been trading downwards. The price tested the level of 110.15. According to the daily time – frame, I have found there is strong selling pressure on USD/JPY and that price breached the lower Keltner band, which is a clear-cut sign of weakness. I have also found that there is a very low reading on the LBR oscillator, which is another sign of weakness. The support at 111.36 is also broken and has been re-tested in the background, which adds more downside pressure. My advice is to watch for selling opportunities. The downward targets are set at the price of 109.78 and at the price of 109.43.

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EUR/USD analysis for December 28, 2018

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Recently, the EUR/USD pair has been trading upwards. The price tested the level of 1.1470. According to the M15 time – frame, I have found that price is trading above the Ichimoku cloud and above the daily pivot (1.1410), which is a sign that buyers are in control today. I also found that triple top formation on the point and figure chart, which is another sign of strength. My advice is to watch for buying opportunities. The upward target is set at the price of 1.1512 (resistance 1).

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Technical analysis of EUR/USD for December 28, 2018

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Overview:

Pivot: 1.1421.

The EUR/USD pair continues to move upwards from the level of 1.1421. Today, the first support level is currently seen at 1.1421, and the price is moving in a bullish channel now. Furthermore, the price has been set above the strong support at the level of 1.1421, which coincides with the 61.8% Fibonacci retracement level. This support has been rejected three times confirming the uptrend. According to the previous events, we expect the EUR/USD pair to trade between 1.1421 and 1.1550. So, the support stands at 1.1421, while daily resistance is found at 1.1550. Therefore, the market is likely to show signs of a bullish trend around the spot of 1.1421. In other words, buy orders are recommended to be placed above the spot of 1.1421 with the first target at the level of 1.1550; and then towards 1.1603. However, if the EUR/USD pair fails to break through the resistance level of 1.1550 today, the market will decline further to 1.1342.

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Technical analysis of USD/CAD for December 28, 2018

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Overview:

The USD/CAD pair set above strong support at the level of 1.3531, which coincides with the 61.8% Fibonacci retracement level. This support has been rejected for four times confirming uptrend veracity. Hence, major support is seen at the level of 1.3531 because the trend is still showing strength above it.

Accordingly, the pair is still in the uptrend from the area of 1.3531 and 1.3600. The USD/CAD pair is trading in a bullish trend from the last support line of 1.3531 towards the first resistance level at 1.3660 in order to test it.

This is confirmed by the RSI indicator signaling that we are still in the bullish trending market. Now, the pair is likely to begin an ascending movement to the point of 1.3660 and further to the level of 1.3727.

The level of 1.3727 will act as second resistance and the double top is already set at the point of 1.3660. At the same time, if a breakout happens at the support levels of 1.3531 and 1.3450, then this scenario may be invalidated. But in overall, we still prefer the bullish scenario.

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