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Recently, Gold has finally managed to break through the key support cluster at the price of $1,286.00, which is a sign that sellers took control over the buyers. I have found the breakout of the trading range (6 days), which is another sign of weakness. Gold is trading inside of the downward Pitchfo...

Continue reading Analysis of Gold for January 18, 2019 on Forex Alchemy.

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Overview: The AUD/USD pair is set above strong support at the level of 0.7046 which coincides with the 23.6% Fibonacci retracement level. This support has been rejected four times confirming the veracity of the uptrend. Hence, major support is seen at the level of 0.7046, because the trend is still ...

Continue reading Technical analysis of AUD/USD for January 18, 2019 on Forex Alchemy.

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Overview: The NZD/USD pair breached resistance which had turned into strong support at the level of 0.6705 this week. The level of 0.6705 coincides with a golden ratio (61.8% of Fibonacci), which is expected to act as major support today. The RSI is considered to be overbought, because it is above 7...

Continue reading Technical analysis of NZD/USD for January 18, 2019 on Forex Alchemy.

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Bitcoin managed to climb higher above the dynamic level resistance of Kumo Cloud, Tenkan, Kijun, and 20 EMA resistance recently. The price is currently heading towards the 200 EMA resistance at $3,700 area. If is broken above, further bullish pressure towards $4,000 is expected in the coming days. B...

Continue reading BITCOIN Analysis for January 18, 2019 on Forex Alchemy.

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Trend analysis (Fig. 1). On Friday, work down from the first lower target of 1.2925 is a rolling level of 14.6% (yellow dotted line). Fig. 1 (daily schedule). Comprehensive analysis: – indicator analysis – down; – Fibonacci levels – down; – volumes – down; –...

Continue reading GBP/USD Daily review for January 18, 2019 on Forex Alchemy.

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Trend analysis (Fig. 1). On Friday, the price will move up. The first upper target of 1.1418 is the recoiling level of 23.6% (yellow dotted line). Fig. 1 (daily schedule). Comprehensive analysis: – indicator analysis – up; – Fibonacci levels – up; – volumes – up; ...

Continue reading EUR/USD Daily review for January 18, 2019 on Forex Alchemy.

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The Eurozone’s inflation report showed that consumer prices slipped more than expected. Headline CPI fell to 1.6% which was more than the flash estimates that pointed to a decline of 1.7%. Core inflation, however, remained steady at 1.0%. The data comes ahead of the ECB meeting next week. In the U.S...

Continue reading Intraday Technical Analysis 18 January on Forex Alchemy.

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The clear break above the resistance-area between 140.43 – 140.88 confirm wave ii having completed already at 137.37 and wave iii developing already. The first target to look for is seen at 143.81 but ultimately, we expect wave iii to rally higher to the 161.8% extension target of wave i at 151.90. ...

Continue reading Elliott wave analysis of GBP/JPY for January 18, 2019 on Forex Alchemy.

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Ethereum Elliott Wave analysis for 18/01/2019: The triangle pattern in wave 4 continues, more downside in view Technical market overview: The three wave advance to the level of 156.91 has been completed at January 5th and since then the market has started an impulsive decline that reached the level ...

Continue reading Ethereum Elliott Wave analysis for 18/01/2019 on Forex Alchemy.

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Market technical overview: The market has made a low for the wave (a) of the lesser degree at the level of $3,500 and now is slowly developing the wave (b) of the corrective structure. The target for the wave (b) should not exceed the level of $3,676, which is a technical resistance for the price. W...

Continue reading Bitcoin Elliott Wave analysis for 18/01/2019 on Forex Alchemy.

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