Daily analytical report (09/03/18)

2018-03-09T13:49:54
  • As expected, bitcoin’s inability to climb above 11k USD sent it much lower. We managed to break the 10k support and, most recently, 8.7k USD. This will now act as the closest resistance. The immediate target for the bears is 6k USD.
  • USDCAD broke the mid-term upwards trend line but it is still not enough to trigger a sell signal. For that, we need to see a breakout of the 1.2865 support (green). As long, as we stay above this level, buyers are still relatively safe.
  • USDCHF came back above a major resistance and did so in style; using a nice inverse head and shoulders pattern. We are above the neckline, too. After a small pullback we should see a further rise. Very nice technical setup.

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