- Bitcoin breaks 5,770 USD, triggering a buy signal which should aim for new all-time highs. That movement was expected as we were inside a wedge pattern (bullish) and the price bounced from the long-term upwards trend line connecting higher lows since the middle of September.
- USDCAD is using a 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 should now be used as the closest support.
- EURUSD is getting ready for the ECB. The price just tested the upper line of the flag and the horizontal resistance at 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.
Alpari - Analytics
