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Daily analysis of GBP/JPY for November 23, 2017

GBPJPYH4.png

Overview

No news for the GBP/JPY pair. Amid the lack of the bullish momentum, the pair is going on with extra sideways trading around 148.30. Therefore, we will keep waiting until the required bullish momentum is gained to resume the positive attack, that targets 150.00 and 151.50 levels mainly. Note that the price attempt to decline below the support at 147.35 will delay the bullish rally. So we expect bearish correctional trading that might push it to reach 146.60 and 144.30. The expected trading range for today is between 147.35 and 150.00

The material has been provided by InstaForex Company – www.instaforex.com

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Daily analysis of USD/JPY for November 23, 2017

USDJPYH4.png

Overview

The USDJPY pair managed to break 111.90 level and rallied towards our waited target at 111.00 directly, showing some slight bullish bias now. The pair might retest 111.90 level before turning back to decline again. We believe that the chances are valid to continue the correctional bearish trend, affected by the bearish formation as its signs have appeared on the chart. Therefore, we are waiting for more decline in the upcoming sessions. Breaking 111.00 will push the price towards 110.15 as a next station, while breaching 111.90 is considered to be the first sign to attempt to stop the current correctional bearish trend and regain the main bullish trend again.The expected trading range for today is between 110.15 support and 111.90 resistance.

The material has been provided by InstaForex Company – www.instaforex.com

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Daily analysis of Gold for November 23, 2017

GOLDH4.png

Overview

Gold price settled near 1,290.00 level after the bullish rally yesterday. Please note that stochastic shows a clear overbought level, which might force the price for some temporary sideways trading until getting enough positive momentum to confinue the bulish trend. In general, the bullish scenario remains valid if the price settles above 1,281.17 and 1,274.00 level. Our first target is seen at 1,299.20 and breaching it will push the price to extend its gains to 1,321.50 directly. The expected trading range for today is between 1,280.00 support and 1,300.00 resistance.

The material has been provided by InstaForex Company – www.instaforex.com

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Daily analysis of Silver for November 23, 2017

SILVERH4.png

Overview

Silver price keeps fluctuating near the EMA50. Please note that stochastic begins to overlap positively on 4H frame. We are waiting until the price gains momentum to resume the bullish trend in the short term. The first target is set by testing 17.43 level. Breaching this level will push the price to 18.30 as the next station. Therefore, the bullish trend will remain active unless a clear break is seen and held with a daily close below 16.56. The expected trading range for today is between 16.90 support and 17.43 resistance.

The material has been provided by InstaForex Company – www.instaforex.com

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Global macro overview for 23/11/2017

The October FOMC Meeting Minutes overall report reflected recent comments by Fed members and did not point to any significant change in attitudes. Most of the members are in favor of raising interest rates in the near future, signaling their readiness to increase in December. The market valuation of this step is currently around 90% and that says a lot about market attitudes. The report also confirmed that there is a “small” group of FOMC members, who is concerned about the persistence of low inflation. In their opinion, it would be better to wait for further monetary tightening. Although at first glance it looks like a dovish signal, similar words have already been heard directly from Brainard, Bullard, Evans, and Kashkari. It is no secret that the fate of future rate hikes depends on the rebound of core inflation as well.

The minutes showed there is still a division between those who are worried the Fed might be moving too slowly amid low unemployment and those still concerned that inflation is falling short of expectations. The Fed meets again on 12-13 December and global investors and economists widely expect it will go ahead and raise interest rates, which will likely appreciate the US Dollar across the board.

Let’s now take a look at the US Dollar Index technical picture at the H4 time frame. The market was not strong enough to break out above the technical resistance at the level of 94.27 and made a lower high at the level of 94.16 and reversed. The broken technical support at the level of 93.39 will now become resistance. The next support is seen at the level of 93.06.

analytics5a16d79ba575d.jpg

The material has been provided by InstaForex Company – www.instaforex.com

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All factors favor euro’s rise(23.11.2017)



Today the euro benefits from weakness of the US dollar, just like other currencies. However, the greenback’s fall is not the only driver for a rise in the most traded currency pair. Macroeconomic reports from the Eurozone have boosted demand for the single European currency. First of all let us pay attention to the statistics from Germany. The largest European economy has demonstrated good results. According to official data, the gross domestic product grew by 0.8% in the third quarter. In annual terms the German economy expanded by 2.3% that came in line with the consensus forecast. At the same time, the business activity in Germany increased as well. The preliminary estimates of Market Economics showed that the manufacturing PMI rose to 62.5 points while the services PMI advanced to 54.9 points versus the previous reading of 54.7 points. France also released upbeat economic reports. As a result, the composite PMI in the Eurozone hit the 6-year high, rising from 56 points to 57.5 points. Does it signal that the economic conditions in the currency bloc improved? Surely it does. However, these data can hardly change the attitude of the ECB policymakers towards the monetary policy stance, as the stable inflation rate is more important for them. Additionally, there are other factors that influence the dynamics of the euro. It seems that the Fed officials do not intend to hike the interest rate in December. At any rate, this is the conclusion that can be drawn after the minutes of the FOMC meeting have been released. It has already put the greenback under pressure and is likely to dent its rise further on. Therefore, the single European currency has a chance to end this trading week at the level of 1.1875. Anyway, the euro may gain solid profits by the end of this trading week as on Friday the market will close earlier as it will be Black Friday. https://www.instaforex.com FX Analytics – https://www.instaforex.com/forex_analytics
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Все факторы указывают на рост евро. (23.11.2017)



Как и другие активы, евро сегодня пользуется слабостью доллара США. Однако рост популярной на рынке Форекс пары происходит не только из-за снижения курса американской валюты. Макроэкономические данные еврозоны также повлияли на увеличение спроса на евро. В первую очередь стоит обратить внимание на Германию. Локомотив экономики еврозоны демонстрирует хорошие результаты. Так, согласно официальным данным, за 3-й квартал объем ВВП в стране вырос на 0,8%. В годовом выражении значение продемонстрировало подъем на 2,3%, что совпало с консенсус-прогнозом. Тем временем и деловая активность указывает на максимальные темпы роста. Предварительные данные от экспертов исследовательской организации Markit Economics указали на то, что в Германии производственный PMI вырос до 62,5 пункта. Деловая активность в секторе услуг указала на подъем с 54,7 до 54,9. Сильные данные предоставила и Франция, что поспособствовало максимальному за последние 6 лет росту композитного индекса деловой активности еврозоны. Согласно оценке экспертов, значение поднялось с 56 пунктов до 57,5. Говорит ли это об улучшении экономических условий в регионе? Безусловно. Однако на курс монетарной политики ЕЦБ данные никоим образом не влияют, так как чиновники европейского центробанка хотят увидеть стабильный рост инфляции в стране. Стоит отметить. что и движение евро пока что полностью зависит от других факторов.По всей видимости, ФРС не намерен в декабре повышать ставку рефинансирования. По крайней мере, именно такие выводы можно сделать из содержания текста протокола заседания Федеральной комиссии по операциям на открытом рынке. Это уже сказалось на стоимости доллара, и дальше будет оказывать на него негативное влияние. Так что, единая европейская валюта, может завершить неделю на отметке в 1,1875. В любом случае, торговую неделю евро может закрыть на максимальных позициях еще и по той причине, что в пятницу будет раннее закрытие торгов по американскому доллару из-за “Черной пятницы”. https://www.instaforex.com/ru/ Аналитика от ведущих экспертов валютного рынка – https://www.instaforex.com/ru/forex_analytics
Календарь Форекс-трейдера – https://www.instaforex.com/ru/forex_calendar
ТВ для Форекс-трейдера, важное и интересное – https://www.instaforex.com/ru/instaforex_tv Котировки в режиме реального времени – https://www.instaforex.com/ru/charts
Открыть торговый счет в ИнстаФорекс – https://www.instaforex.com/ru/fast_open_live_account
Конкурсы для Форекс-трейдеров – https://www.instaforex.com/ru/forex_contests ИнстаФорекс в VK – https://vk.com/instaforex
ИнстаФорекс в FB – https://www.facebook.com/instaforex.ru/

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Bitcoin analysis for November 23, 2017

analytics5a16b91148d2c.png

The Bitcoin (BTC) has been trading sideways at the price of $8.125. In order “to prevent the abuse of the system for criminal and unlawful activities and ensuring the stability and integrity of the financial system,” Bank Negara Malaysia Governor Tan Sri Muhammad Ibrahim stated 22 November 2017 that those trading in cryptocurrencies will be placed under the country’s existing anti-money laundering laws. Technical picture looks bullish.

Trading recommendations:

According to the 30M time frame, I found a potential double bottom formation, which is sign that selling looks risky. Stochastic oscillator is in oversold zone and my advice is to watch for potential buying opportunities. The upward targets are set at the price of $8.348 (pivot suppot 1) and at the price of $8.511.

Support/Resistance

$8.137 – Pivot level

$8.348 – Pivot resistance 1

$8.511 – Pivot resistance 2

$7.976– Pivot support 1

With InstaForex you can earn on cryptocurrency’s movements right now. Just open a deal in your MetaTrader4.

The material has been provided by InstaForex Company – www.instaforex.com

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GBP traders take advantage of weak USD (23.11.2017)



During this trading week, the British pound attracts investors' attention, as every day the UK releases important data that can influence the movement of the pound/greenback pair. First of all, traders analyze the Parliamentary Committee hearings of inflation reports that pointed to the possible acceleration of consumer prices growth in the fourth quarter. Investors were also encouraged by the autumn report on the UK budget. The growth of the pound/greenback pair was supported by a decline of the US currency. The pair is trading above 1.3300. However, the British pound dropped from a month high after the release of important data on GDP. According to the second estimate, the UK economy expanded by 1.5 percent in a year, maintaining a steady growth. Quarter-on-quarter, the UK GDP increased by 0.4 percent, in line with analysts’ forecasts and preliminary estimations. The data still indicate a stable economic situation. The market participants are still worried about the possible influence of Brexit. Today the British Ministry of Finance reported a critical phase of negotiations on the UK withdrawal from the EU. However, many experts are sure that the talks will resume within three weeks. Perhaps, it will support the British national currency. In the short term, today analysts expect the pair to break through the resistance level of 1.3390. https://www.instaforex.com FX Analytics – https://www.instaforex.com/forex_analytics
Forex Calendar – https://www.instaforex.com/forex_calendar
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Germany’s coalition talks collapse


On November 20, Free Democrat party walked out of the negotiations with Angela Merkel’s CDU/CSU bloc and the Greens to form a new federal government.  
A major stumbling block was the migration issue. “It is better not to rule than to rule the wrong way,” Christian Lindner, leader of Free Democrats, said. 
The Social Democratic Party (SPD) will also not participate in the formation of the government and will remain in opposition even after the failure of the talks.
As a result, according to Spiegel, German Chancellor Angela Merkel has faced a government crisis for the first time in 19 years. 
Merkel emphasized that her Christian Democratic Union (CDU) would “take responsibility for this country, even in difficult times”. 
Now Germany has two outcomes: a minority government for the first time in German history, or new elections that have never been announced so quickly, Spiegel reports.The material has been provided by portal MT5.com – www.mt5.com

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Japan’s trade surplus narrows to 285.4 billion yen in October


In October 2017, Japan’s trade surplus fell to 285.4 billion yen from 667.7 billion yen a month earlier, Ministry of Finance data showed. That was below market consensus of a 330 billion yen surplus. 
Exports in value terms rose by 14% to 6.69 trillion yen ($ 59.7 billion) in October compared to the same period in 2016. Japanese shipments showed growth for 11 consecutive months, which was due to an increase in exports of cars and equipment for semiconductors’ production. Analysts had predicted a 15.5% rise. 
In the 10 months through October, Japan exported 64 trillion yen worth of goods, the most since 2008. Meanwhile, Japanese imports rose by 18.9% to 6.41 trillion yen on a yearly basis in October.
Japan’s trade surplus with the US jumped by 11% to 644.7 billion yen, while its deficit with China shrank by 22.5% to 265.7 billion yen. 
The country’s exports to the US rose by 7.1% last month, while its shipments to China increased by 26% and exports to the EU rose by 15.8%.
Oil imports from Russia decreased by 8.7% to 116,000 barrels per day year-on-year. Japan’s total oil imports rose by 7.8%.The material has been provided by portal MT5.com – www.mt5.com

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Alibaba to buy Chinese hypermart chain for $2.9 billion


Online giant Alibaba Group Holding is planning to invest HK$22.4 billion ($2.87 billion) for a major stake in China’s top hypermart operator, Sun Art Retail Group. The move comes as the e-commerce company is trying to capture more of the offline retail market. 
In an alliance with Auchan Retail and Ruentex Group, Alibaba will buy the stake from Ruentex, while Auchan Retail will increase its stake. All this is part of Alibaba’s strategy to boost big-data capabilities in the offline retail market with about 85% of sales made. 
“Physical stores serve an indispensable role during the consumer journey, and should be enhanced through data-driven technology and personalized services in the digital economy,” Alibaba Chief Executive Officer Daniel Zhang said.
Under the deal, French retailer Groupe Auchan SA, Chinese Alibaba Group, and Taiwanese conglomerate Ruentex would get 36.18%, 36.16% and 4.67% stakes in Sun Art respectively. Alibaba would replace Ruentex as the second-biggest shareholder.The material has been provided by portal MT5.com – www.mt5.com

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USD/JPY analysis for November 23, 2017

analytics5a16b39e5578e.png

Recently, the USD/JPY pair has been trading downwards. As I expected, the price tested the level of 111.06. According to the 30M time – frame, I found that price is trading below the pivot level at the price of 111.61. I also found a symmetrical triangle in creation, which is a sign that price is consolidating. My advice is to watch for a potential bearish breakout of the triangle to confirm a further downward movement. The downward targets are set at the price of 110.75 (pivot support 1) and at the price of 110.26 (support 2).

Resistance levels:

R1: 112.09

R2: 112.97

R3: 113.44

Support levels:

S1: 110.74

S2: 110.26

S3: 109.39

Trading recommendations for today: watch for potential selling opportunities.

The material has been provided by InstaForex Company – www.instaforex.com

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Трейдеры по британскому фунту также пользуются слабостью доллара США. (23.11.2017)



Британский фунт на этой торговой неделе привлекает внимание инвесторов, поскольку день за днем Соединенное Королевство предоставляет важные сообщения, способные оказать влияние на движение пары GBP/USD. В первую очередь стоит напомнить о парламентских слушаниях инфляционных отчетов, которые указали на вероятное ускорение роста потребительских цен в 4 квартале. Инвесторы также восприняли весьма благосклонно осенний отчет по бюджету страны. Основную лепту в рост пары “кабель”, непосредственно, привнесло снижение господствующей мировой валюты. Пара GBP/USD торгуется выше уровня 1.3300. Однако британский фунт опустился с месячного максимума после публикации важных данных. Согласно второй оценке экспертов, экономика за год выросла на 1,5%, сохранив равномерный темп роста. В поквартальном исчислении ВВП увеличился на 0,4%, оправдав прогнозы аналитиков и подтвердив верность первичного расчета. Данные по-прежнему указывают на стабильное экономическое состояние. Картину омрачает все тот же вопрос по Brexit. Участники рынка опасаются за его последствия. Министерство финансов Великобритании сегодня сообщило о критической фазе переговоров по “бракоразводному процессу” Соединенного Королевства с ЕС. Правда многие эксперты уверены, что диалог возобновится в течение трех недель. Возможно, это окажет поддержку британской национальной валюте. В краткосрочной перспективе аналитики предполагают, что график пары все же пробьет уровень сопротивления на 1.3390 уже сегодня. https://www.instaforex.com/ru/ Аналитика от ведущих экспертов валютного рынка – https://www.instaforex.com/ru/forex_analytics
Календарь Форекс-трейдера – https://www.instaforex.com/ru/forex_calendar
ТВ для Форекс-трейдера, важное и интересное – https://www.instaforex.com/ru/instaforex_tv Котировки в режиме реального времени – https://www.instaforex.com/ru/charts
Открыть торговый счет в ИнстаФорекс – https://www.instaforex.com/ru/fast_open_live_account
Конкурсы для Форекс-трейдеров – https://www.instaforex.com/ru/forex_contests ИнстаФорекс в VK – https://vk.com/instaforex
ИнстаФорекс в FB – https://www.facebook.com/instaforex.ru/

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GBP/USD analysis for November 23, 2017

analytics5a16ab89c5527.png

Recently, the GBP/USD part has been trading upwards. As I expected, the price tested the level of 1.3337. According to the 30M time – frame, I found a successful test of pivot level at the price of 1.3288, which is a sign that selling looks risky. I also found oversold conditions on the stochastic oscillator, which is another sign of strength. My advice is to watch for potential buying opportunities. The upward targets are set at the price of 1.3363 (pivot resistance 1) and the price of 1.3400 (pivot resistance 2).

Resistance levels:

R1: 1.3364

R2: 1.3400

R3: 1.3480

Support levels:

S1: 1.3247

S2: 1.3170

S3: 1.3130

Trading recommendations for today: watch for potential buying opportunities.

The material has been provided by InstaForex Company – www.instaforex.com

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*Canadian Dollar Edges Down To 1.2723 Against U.S. Dollar

Nov 23 at 15:49 UTC

1.1851/19 (+0.27%) H 1.1853 L 1.1813

Support levelsResistance levels
S3S2S1R1R2R3
1.16601.17321.17791.19231.19701.2042

1.3301/20 (-0.14%) H 1.3335 L 1.3285

Support levelsResistance levels
S3S2S1R1R2R3
1.30871.31681.32201.33821.34341.3515

111.23/0 (+0.03%) H 111.37 L 111.06

Support levelsResistance levels
S3S2S1R1R2R3
109.44110.12110.55111.91112.34113.02

147.95/8.13 (-0.12%) H 148.44 L 147.80

Support levelsResistance levels
S3S2S1R1R2R3
145.57146.47147.05148.85149.43150.33

1.1625/03 (+0.19%) H 1.1627 L 1.1594

Support levelsResistance levels
S3S2S1R1R2R3
1.14381.15091.15541.16961.17411.1812

0.7624/16 (+0.11%) H 0.7638 L 0.7603

Support levelsResistance levels
S3S2S1R1R2R3
0.75010.75480.75770.76710.77000.7747
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ECB Minutes: Policy Makers Broadly Agreed For Further Extension Of APP

Large majority of European Central Bank’s policymakers supported the extension of the net asset purchases for nine months until the end of September 2018, amid robust and broad-based economic expansion in the bloc, an uptick in underlying inflation and the continued effective pass-through of the ECB’s policy measures to the financing conditions of the real economy, the minutes of the October 25- 26 meeting showed Thursday.

Members widely shared the view that continued solid and broad-based expansion of the euro area economy, amid supportive financing conditions, would eventually head inflation to levels consistent with the ECB’s medium-term inflation aim, the minutes, which the ECB calls the accounts, showed.

However, with inflation dynamics remaining subdued, the members agreed that an ample degree of monetary stimulus was still needed to secure a sustained return of inflation rates towards levels below, but close to, 2 percent.

Large majority of members supported the view that the asset purchases should be extended at a monthly pace of ?30 billion for nine months until the end of September 2018, or beyond, if necessary, the minutes showed.

Broad agreement was expressed among members to maintain the forward guidance on interest rates unchanged.

At the meeting, the Governing Council kept the main refi rate at zero percent, the deposit rate at -0.40 percent and the marginal lending facility at 0.25 percent.

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USD to sag on Thanksgiving Day (23.11.2017)



US markets are closed today for the Thanksgiving holiday. Ahead of the holiday, trading was quite robust as market participants were keen to sort out positions before the closing bell on US trading floors. Interestingly, the dollar/yen pair shed over 100 pips. The pair closed the Asian trade next to 111.00. The US dollar tumbled due to a falling yield curve of US Treasuries. Besides, rumors are flying in the market that the Bank of Japan might consider scaling down its monetary stimulus in the near future. Yesterday, the US Federal Reserve released the minutes of the latest policy meeting. The minutes aroused doubts among investors about a pace of further monetary tightening. Traders found out that many officials of the rate-setting committee voted to raise interest rates gradually and carefully until consumer inflation reaches and holds steadily at the target level of 2%. As a result, the US dollar index has lost almost 1%, heading for a two-month low of 93.00. Currency analysts say that today many rival currencies of the US dollar can seize the chance to regain losses amid thin trading conditions. https://www.instaforex.com FX Analytics – https://www.instaforex.com/forex_analytics
Forex Calendar – https://www.instaforex.com/forex_calendar
Forex TV from InstaForex – https://www.instaforex.com/instaforex_tv Forex charts – https://www.instaforex.com/charts
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Data AS gagal mengembalikan pembeli USD (23.11.2017)



Sesi sepekan pada trading yang singkat memiliki dampak tertentu terhadap sentimen pasar. Para trader berada di tepi akhir pada sesi Amerika. Para investor lebih memilih untuk menutup pembelian jangka panjang pada dolar AS di akhir sesi trading. Di awal sesi Amerika, indeks dolar AS melanjutkan pergerakan turun dan jatuh ke level di awal pekan. Indeks ditutup sebesar 93,60. Permintaan untuk mata uang AS mulai mengalami penurunan kemarin setelah pidato dari Ketua Fed Janet Yellen, yang menyatakan bahwa perlunya untuk menyusun kebijakan dengan hati-hati untuk mempertahankan peringkat suku bunga saat ini dari inflasi harga konsumen. Dengan kata lain, Ketua Fed menunjukkan keengganan untuk meningkatkan suku bunga di tengah inflasi yang tidak stabil. Sebelumnya, Federal Reserve memperkirakan kesiapan ekonomi AS untuk meningkatkan suku bunga pada basis tingkat inflasi dan situasi pada pasar tenaga kerja. Sementara itu, AS merilis data optimis mengenai pasar ketenaga kerjaan yang hampir menunjukkan peringkat ketenaga kerjaan penuh. Selama minggu lalu, hanya 239.000 warga AS yang mengajukan tunjangan pengangguran, sementara itu analis telah memperkirakan kenaikan senilai 241.000. Meskipun demikian, Departemen Perdagangan AS kemarin juga merilis berita yang tidak dikehendaki bagi pembeli dolar AS. Pesanan barang tahan lama AS turun di bulan Oktober. Indikator turun tidak terduga sebesar 1,2 persen. Analis telah memperkirakan penurunan 0,4 persen dalam satu bulan. Oleh karena itu, dolar AS diperdagangkan dibawah tekanan. Selain itu, greeenback melemah ditengah penurunan Yield Treasury AS. https://www.instaforex.com/id/

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Bitcoin analysis for 23/11/2017

According to Wall Street Journal, JP Morgan Chase is considering launching its Chicago Mercantile Exchange (CME) futures platform on Bitcoins. This statement was issued last week and raised the Bitcoin price to a record high of over $ 8,300. According to the report: ” J. P. Morgan wonders whether through its futures brokerage unit will provide its customers with access to the new Bitcoin CME product.”

The irony of this statement is, of course, that Jamie Dimon was the most bitter critic of Bitcoin on Wall Street, calling him a scam and saying that anyone investing in him is stupid. Dimon also said he would release anyone who would buy Bitcoin. The highly negative tendencies of some Wall Street professionals were mostly caused by the positive views of others. But regardless of whether Dimon actually extends its services or not, Bitcoin-based futures are likely to become a reality at the beginning of December, meaning a significant acceleration of their adaptation.

Let’s now take a look at the Bitcoin technical picture at the H4 time frame. The price is still hovering around the recent high at the level of $8,365, but the upward momentum is clearly diminishing. If the dashed black trend line is violated, the price might quickly drop towards the nearest technical support at the level of $7.886. In a case of an extended correction, the next important technical support is seen at the level of $7,432. The overall uptrend is mature and correction might occur any time now.

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The material has been provided by InstaForex Company – www.instaforex.com

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