bitcoin eur

Bitcoin aims for new all time highs. EURUSD waits with trading signal for the ECB

Bitcoin breaks the 5770 USD and triggers the buy signal which should aim all-time highs. That movement was expected as we were inside of the wedge pattern (bullish) and the price bounced from the long-term up trendline connecting higher lows since the middle of September.

USDCAD uses buy signal from both: technical and fundamental analysis. Here we have a positive combination from the dovish BoC and the denial of the H&S pattern along with the breakout of the 1.259 resistance. Most recently we broke the 1.277 resistance which now should be used as the closest support.

EURUSD is getting ready before the ECB. The price just tested the upper line of the flag and the horizontal resistance on the 1.183. We are waiting here for either a breakout of the upper line of the flag or a bearish breakout of the neckline. One of those should give us a strong mid-term trading signal.

This article is written by Tomasz Wisniewski, a senior analyst at Alpari Research & Analysis