Daily analytical report (03/08/18)

2018-08-03T13:41:42
  • The last video for this week concerns bitcoin, which failed to defend the support at 7,500 USD. This could possibly have negative implications for BTC as in the same timeframe we came back below the long-term lower trend line. Currently, sentiment is once again negative, and the closest support right now is the neckline around 6,800 USD.
  • This week was rough for NZD. On the NZDUSD pair, the price is breaking the lower line of the symmetrical triangle, which could possibly send the price even lower. What is more, we are still below the long-term resistance (marked in yellow), which is defining the main sentiment on this pair. There is a proper sell signal here as long as we stay below this resistance.
  • NZDCAD also looks terrible. Here, the price broke the lower line of the triangle, as well as the long-term upwards trend line, which has been connecting higher lows for the past 8 years! That is a very strong, long-term trading signal.

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