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Traders Update – Dollar weakness is generating ‘Strong Buy’ signals in Euro, Gold, Silver and Bitcoin

Gold and Bitcoin are both working their way towards and through ‘Big Number’ resistance in the form of the $2,000 and $11,000 price tags.  

Bitcoin’s week-long rally has turned points of resistance at $10,623 and $10,464 into support levels and target price $11,500 looks possible. 

Equity index metrics indicate short-term selling pressure which would go hand in hand with profit taking as the weekend approaches.

Instrument

Hourly

Daily

GBP/USD

1.2982

Strong Buy

Neutral

EUR/USD

1.1858

Strong Buy

Strong Buy

FTSE 100

6,022

Strong Sell

Neutral

S&P 500

3,358

Strong Sell

Neutral

Gold

1,958

Strong Buy

Strong Buy

Silver

27.35

Strong Buy

Strong Buy

Crude Oil WTI

41.01

Neutral

Strong Buy

Bitcoin

10,909

Buy

Strong Buy

Our analysis is based on a comprehensive summary of market data. We use a range of metrics with weighting given to simple and exponential moving averages and key technical indicators.

Risk Statement: Trading Foreign Exchange on margin carries a high level of risk and may not be suitable for all investors. The possibility exists that you could lose more than your initial deposit. The high degree of leverage can work against you as well as for you.

Risk Statement: Trading Foreign Exchange on margin carries a high level of risk and may not be suitable for all investors. The possibility exists that you could lose more than your initial deposit. The high degree of leverage can work against you as well as for you.