EURUSD and Gold climb higher. Bitcoin drops!

By:

Published: Sep 6, 2018, 08:57 UTC

EURUSD created an inverse head and shoulders pattern on a super important horizontal support. The buy signal is on as we already broke the neckline of

EURUSD created an inverse head and shoulders pattern on a super important horizontal support. The buy signal is on as we already broke the neckline of this formation. Currently, the price stopped on a mid-term resistance but it looks like this one will be broken soon.

Gold is breaking the upper line of the flag formation. That pattern is promoting a further upswing. As for now, we are below the 23.6 % Fibo but with today’s breakout, we do have high chances to come back above that level.

Bitcoin experienced a huge drop yesterday. Thursday is not any better though. In two days, this crypto erased the two weeks of an upswing. The sentiment is negative and we should soon see the price on the long-term support around 5800 USD.

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

About the Author

Tomasz Wiśniewskicontributor

During his career, Tomasz has held over 400 webinars, live seminars and lectures across Poland. He is also an academic lecturer at Kozminski University. In his previous work, Tomasz initiated live trading programs, where he traded on real accounts, showing his transactions, providing signals and special webinars for his clients.