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Daily analytical report (20/11/18)

  • EURUSD and NZDUSD are having proper bullish reversals. Let's start with EURUSD. Here, it all started with the false breakout pattern. Then we had a denied flag and a breakout of the mid-term downwards trend line. After that, buyers broke the 38.2% Fibonacci resistance. That one is currently being tested as a support and it looks really promising.
  • NZDUSD started with the triple bottom formation. The price used the momentum from this formation to climb above the 38.2% Fibonacci, which is currently being positively tested as a support. As you can see, the most current movements are very similar on those two instruments.
  • Lastly we have bitcoin, where I think we reached the pain threshold of those who bought at the end of last year. The breakout of 6,000 USD was just too much for them. Panic selling just accelerates this movement. My idea for a target is 3,000 USD, and I think we can get there much sooner than I initially thought.

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