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.

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.

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