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USD/CHF: TECHNICAL ANALYSIS 25.10.2019
Current trend

On the 4-hour chart, the instrument is growing along the upper line of the Bollinger Bands. At the moment the price has met the resistance at the level of 0.99298, which can activate a downward correction in short term period. Assuming the pair’s ability to cross this level, the mark of 0.99487 can be targeted if holding long positions. Alternative scenario.
If the sellers manage to decline the rate below the level of 0.99182, the downward correction can continue to the area of 0.99063-0.99009. There is a chance of an upward rebound, while its breakdown would be a start for a downward trend resumption. In this case, the next targets of sellers will be the level of 0.98877.
Technical indicators mostly reflect the maintenance of the upward trend potential. Bollinger Bands are pointed upwards. MACD is slowly growing in the positive zone. Stochastic is in the overbought zone and is pointed upwards.
USDCHFH42510-1024x565.png
Support and resistance

Support levels: 0.99182, 0.99009, 0.98877.
Resistance levels: 0.99298, 0.99487, 0.99792.

Trading recommendations

Short positions can be opened below the level of 0.99182 with the target at around 0.98877 and stop-loss at 0.99283.
Long positions can be opened above the level of 0.99298 with the target at around 0.99487-0.99650 and stop-loss at 0.99190.

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USD/CAD: TECHNICAL ANALYSIS 25.10.2019
Current trend

USD/CAD is consolidating around the 3 month lowest min at the level 1.30701 due to low trading activity. In order to resume the bearish price action USD/CAD should fall below the level 1.30524. In this case, the next targets of sellers will be the level of 1.303013, then 1.30005. On the flip-side, the instrument has the potential to upward correction. The upward correction will be more active after the price is set above the level of 1.30824, which is the middle line of Bollinger Bands. Pair’s sustained trading beyond this level it will give the prospect of growth to the levels of 1.31080. The area of 1.31080-1.31226 level will be a key level for the buyers. There is a high chance of an upward rebound. Meanwhile, decisive breakout of this level will indicate the upward trend formation.
Technical indicators mostly keep a sell signal, but the upward correction is possible in the short term. Bollinger Bands are diverging on the background of bearish momentum. Stochastic is pointed downwards.MACD volumes are decreasing in the positive zone.
USDCADH42510-1024x565.png
Support and resistance

Support levels: 1.30615, 1.30313, 1.30005.
Resistance levels: 1.30824, 1.31080, 1.31226.

Trading recommendations

Short positions can be opened below the level of 1.30615 with the target at around 1.30313 and stop-loss 1.30715.
Long positions can be opened above the level of 1.30824 with the target at around 1.31080 and stop-loss 1.30738.

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AUD/USD: TECHNICAL ANALYSIS 28.10.2019
Current trend

The AUD/USD pair begins today’s trading with a slight bearish bias. The price is approaching strong support in the region of 0.68054. There is a chance of an upward rebound, while its breakdown would allow the fall to continue to the area of 0.67902-0.67749 level. The area of 0.67749 level will be a key zone for the short term sellers.
Alternative scenario.
If the instrument cannot consolidate below the level of 0.68054 during the short term period, the correction to the area of the level of 0.68253-0.68359 can develop. The area of 0.68359 is the key correction' target. There is a chance of a downward rebound, while its breakout will be a signal for upward trend resumption. In this case, the next targets of buyers will be the level of 0.68567.
Technical indicators maintain a sell signal. Bollinger Bands are pointed downwards. MACD histogram is in the negative zone keeping a signal for the opening of sell positions. Stochastic’s lines are pointed downwards and are reaching the oversold area.
AUDUSDH42810-1024x565.png
Support and resistance

Support levels: 0.68054, 0.67902, 0.67749.
Resistance levels: 0.68253, 0.68359, 0.68567.

Trading recommendations

Long positions can be opened above the level of 0.68253 with the target at around 0.68359-0.68567 and stop-loss 0.68148.
Short positions can be opened below the level of 0.68054 with the target at around 0.67902-0.67749 and stop-loss 0.68155.

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USD/JPY: TECHNICAL ANALYSIS 28.10.2019
Current trend

On the 4-hour chart, the instrument saves the potential for a positive dynamic. At the moment the price has met the resistance at the level of 108.787. If the sellers manage to decline the rate below the level of 108.727, the correction can continue to the area of 108.594, which coincided with the middle line of Bollinger Bands. There is a chance of an upward rebound, while its breakdown will be a signal for downward trend formation. In this case, the next targets of sellers will be the level of 108.496-108.398.

Alternative scenario.
Decisive breakout of 108.787 will indicate the upward trend resumption and will give the prospect of growth to the levels of 108.984. The area of levels of 108.984-109.082 seems a strong resistance zone, which can activate the downward rebound.

Technical indicators mostly keep a buy signal but the downward correction is possible in the short term. Bollinger Bands are diverging on the background of bullish momentum. MACD is slowly growing in the positive zone. Stochastic is ready to exit the overbought area and is pointed downwards, reflecting the high possibility of the downward movement formation.
USDJPYH42810-1024x565.png
Support and resistance
Support levels: 108.727, 108.594, 108.398.
Resistance levels: 108.787, 108.984, 109.082.

Trading recommendations

Long positions can be opened above the level of 108.787 with the target at around 108.984-109.082 and stop-loss 108.688.
Short positions can be opened below the level of 108.727 with the target at around 108.594-108.398 and stop-loss 108.836.

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GBP/USD: TECHNICAL ANALYSIS 28.10.2019
Current trend

The GBP/USD pair begins today’s trading with a slight bearish bias.
At the moment the price has met the support at the level of 1.28174.
Assuming
the pair’s ability to cross 1.28174 marks, the area of levels and the 1.28021-1.27869 can be targeted if holding short positions.
Decisive breakdown of -1.27869 will accelerate the fall towards 1.27566 support.

Alternative scenario.
The rebound from the 1.28174 support and breakout of 1.28576 level (the middle line of Bollinger Bands)
will let the price to grow to the area of 1.28784-1.28937.

Technical indicators reflect the moderate maintenance of the current downward trend, but the upward correction is possible in the short term.
Bollinger Bands are diverging on the background of bearish momentum.
The volumes of MACD histograms are growing in the negative zone.
Stochastic is pointed upwards, reflecting the high possibility of upward movement formation.
GBPUSDH42810-1024x565.png
Support and resistance

Support levels: 1.28174, 1.28021, 1.27869.
Resistance levels: 1.28576, 1.28784, 1.28937.

Trading recommendations

Short positions can be opened below the level of 1.28174 with the target at around 1.28021-1.27869, and stop-loss 1.28274.
Long positions can be opened above the level of 1.28576 with the target at around 1.28784-1.28937 and stop-loss 1.28455.

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NZD/USD: TECHNICAL ANALYSIS 29.10.2019
Current trend

The NZD/USD pair begins today’s trading with slight bullish bias amid the correction.
At the moment the price has met the resistance at the level of 0.63744, which coincided with the middle line of Bollinger Bands.
The upward trend will be restored after the price is set above the level of 0.63782.
In this case, the next targets of buyers will be the area of 0.63858-0.64087.

Alternative scenario.

If the price cannot consolidate above the level of 0.63782 during the short term period the price can reverse and retest the support level of 0.63553-0.63477. The area of 0.63477-0.63332 is the key level for the sellers. A decisive breakdown of 0.63332 could trigger a pair’s fresh decline to 0.63171 support.

Technical indicators reflect the maintenance of the upward potential. Bollinger Bands are converging on the background of bullish momentum. MACD volumes are decreasing in the negative zone. Stochastic is pointed upwards.
NZDUSDH42910-1024x565.png
Support and resistance

Support levels: 0.63477, 0.63332, 0.63171.
Resistance levels: 0.63782, 0.64087, 0.64255.

Trading recommendations

Long positions can be opened above the level of 0.63782 with the target at around 0.64087 and stop-loss at 0.63680.
Short positions can be opened below the level of 0.63477 with the target at around 0.63332-0.63171 and stop-loss at 0.63579.

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XAU/USD: TECHNICAL ANALYSIS 29.10.2019
Current trend

XAU/USSD continues to consolidate in the side narrow channel after a significant decline over the past three days. 1490.10-1493.85.
Meanwhile, the instrument has the potential for further decline.
If the sellers manage to decline the rate above the level of 1490.10, the fall can continue to the area of 1484.38. This level seems a key level for the sellers in a short term period. There is a high chance of an upward rebound while its breakdown would indicate a downward trend resumption.

Alternative scenario.
One may speak about upward movement continuation after the price consolidates above the resistance level of 1496.09. In this case, the next targets of buyers will be the level of 1500.00. The area of 1500.00-1503.11 seems a strong resistance area, which can activate the start of the downward correction.
Technical indicators mostly reflect the maintenance of moderate downward dynamics. The volumes of MACD histograms are decreasing in the positive zone. Stochastic is in the oversold zone and is pointed downwards. Bollinger Bands are pointed sideways.
XAUUSDH42910-1024x565.png
Support and resistance

Support levels: 1490.10, 1484.38, 1476.63.
Resistance levels: 1493.85, 1500.00, 1503.11.

Trading recommendations

Short positions can be opened below the level of 1490.10 with the target at around 1484.38 and stop-loss at 1492.40.

Long positions can be opened above the level of 1496.09 with the target at around 1500.00 and stop-loss at 1494.09.

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NZD/USD: TECHNICAL ANALYSIS 29.10.2019
Current trend

The NZD/USD pair begins today’s trading with slight bullish bias amid the correction.
At the moment the price has met the resistance at the level of 0.63744, which coincided with the middle line of Bollinger Bands.
The upward trend will be restored after the price is set above the level of 0.63782.
In this case, the next targets of buyers will be the area of 0.63858-0.64087.

Alternative scenario.

If the price cannot consolidate above the level of 0.63782 during the short term period the price can reverse and retest the support level of 0.63553-0.63477. The area of 0.63477-0.63332 is the key level for the sellers. A decisive breakdown of 0.63332 could trigger a pair’s fresh decline to 0.63171 support.

Technical indicators reflect the maintenance of the upward potential. Bollinger Bands are converging on the background of bullish momentum. MACD volumes are decreasing in the negative zone. Stochastic is pointed upwards.
EURUSDH43010-1024x565.png
Support and resistance

Support levels: 0.63477, 0.63332, 0.63171.
Resistance levels: 0.63782, 0.64087, 0.64255.

Trading recommendations

Long positions can be opened above the level of 0.63782 with the target at around 0.64087 and stop-loss at 0.63680.
Short positions can be opened below the level of 0.63477 with the target at around 0.63332-0.63171 and stop-loss at 0.63579.

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USD/CAD: TECHNICAL ANALYSIS 30.10.2019
[IMG]
Current trend

The USD/CAD pair begins today’s trading with a slight bullish bias. At the moment the price has met the resistance at the level of 1.30937-1.30994. One may speak about upward movement continuation after the price consolidates above this area. In this case, the growth can continue to 1.31226 resistance.
Alternative scenario.
The pullback and pair’s sustained trading below 1.30829 will let the price fall to the level of 1.30680, which coincided with the middle line of Bollinger Bands.
The downward trend will be restored after the price is set below the level of 1.30615. In this case, the next targets of sellers will be the level of 1.30413, which seems a key level for the sellers in a short term period.

The technical picture is mixed. Bollinger Bands are diverging on the background of bullish momentum. MACD volumes are decreasing in the negative zone. Stochastic is pointed sideways.

Support and resistance

Support levels: 1.30829, 1.30680, 1.30413.
Resistance levels: 1.30994, 1.31226, 1.31531.

Trading recommendations

Long positions can be opened above the level of 1.30994 with the target at around 1.31226 and stop-loss 1.30916.
Short positions can be opened below the level of 1.30680 with the target at around 1.30413 and stop-loss 1.30769.

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AUD/USD: TECHNICAL ANALYSIS 31.10.2019
Current trend

On the 4-hour chart, the instrument is growing along the upper line of the Bollinger Bands. At the moment the price has met the resistance at the level of 0.69289. Assuming the pair’s ability to cross this level, the mark of 0.69580 can be targeted if holding long positions. Alternative scenario. If AUD/USD cannot consolidate above the level of 0.69289 during the short term period, the downward movement restoration and retest of the level 0.69122 are possible. If the sellers manage to decline the rate below the level of 0.68970 the correction can continue to the area of 0.68817-0.68665.
Technical indicators reflect the maintenance of the upward potential. Bollinger Bands are diverging on the background of bullish momentum. MACD is slowly growing in the positive zone. Stochastic is in the overbought zone and is pointed upwards.
AUDUSDH431102019-1024x565.png
Support and resistance

Support levels: 0.69122, 0.68970, 0.68665.
Resistance levels: 0.69289, 0.69580, 0.69885.

Trading recommendations

Long positions can be opened above the level of 0.69289 with the target at around 0.69580 and stop-loss 0.69192.
Short positions can be opened below the level of 0.68970 with the target at around 0.68665 and stop-loss 0.69071.

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USD/JPY: TECHNICAL ANALYSIS 31.10.2019
Current trend

USD/JPY has tested the support level of 108.580 and was slightly corrected upwards, but the downward trend maintains. The downward trend will be restored after the price is set below the level of this level. In this case, the next targets of sellers will be the level of 108.398.
Alternative scenario.
The rebound from the level of 108.596 and the pair’s consolidation above the level 108.789 can be a signal for upward movement formation. Further close above this level may push USDCAD even higher towards the area of 108.984-109.082. This area seems a strong resistance area that can activate a downward reverse. Meanwhile, a decisive break of 109.082 could trigger a pair’s fresh run-up to a 3-month high surrounding 109.281.
Technical indicators reflect the maintenance of the current downward trend. Bollinger Bands are diverging on the background of bearish momentum. MACD histogram is ready to enter the negative zone and form a sell signal. Stochastic’s lines are pointed downwards and are reaching the oversold area.
USDJPYH431102019-1024x565.png
Support and resistance

Support levels: 108.594, 108.398, 108.203.
Resistance levels: 108.789, 108.984, 109.082.

Trading recommendations
Long positions can be opened above the level of 108.789 with the target at around 108.984-109.082 and stop-loss 108.688.
Short positions can be opened below the level of 108.594 with the target at around 108.398-208.203 and stop-loss 108.724.

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GBP/USD: TECHNICAL ANALYSIS 31.10.2019

GBPUSDH431102019.png

Current trend

On the 4-hour chart, the instrument is growing along the upper line of the Bollinger Bands. The price is approaching a strong resistance in the region of 1.29395. Assuming the pair’s ability to cross this level, the mark of 1.29547 and the 1.29700 can be targeted if holding long positions.
Alternative scenario.
The rebound from the level of 1.29395 and the pair’s sustained move below 1.28969 will be a signal for a downward correction. In this case, the next targets of sellers will be the level of 1.28621, which coincided with the middle line of Bollinger Bands. This level seems a key target of correction. There is a chance of an upward rebound, while its breakdown will indicate the downward trend resumption and give the prospect of decline to the levels of 1.28479-1.28326.
Technical indicators reflect the moderate maintenance of the current upward trend.
Bollinger Bands are diverging on the background of bullish momentum.
MACD is slowly growing in the positive zone.
Stochastic is in the overbought zone and is pointed upwards.

Support and resistance

Support levels: 1.28969, 1.28621, 1.28479.
Resistance levels: 1.29395, 1.29547, 1.29700.

Trading recommendations

Long positions can be opened above the level of 1.29395 with the target at around 1.29547-1.29700 and stop-loss 1.29300.
Short positions can be opened below the level of 1.28920 with the target at around 1.28621, and stop-loss 1.29920.

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EUR/JPY: TECHNICAL ANALYSIS 01.11.2019
Current trend

On the 4-hour chart, the instrument is correcting up from the lower line of the Bollinger Bands.
If the "bulls" manage to raise the rate above the level of 120.703, the correction can continue to the area of 120.898 (middle line of Bollinger bands). This level seems a key target of correction and can restrict further upside movement.
Meanwhile, the decisive breakout of 120.898 and the pair’s sustained trading beyond 121.094 will be a signal for upward trend restoring and give the prospect of growth to the levels of 121.289.
Alternative scenario.
The rebound from the level 120.703 and pair’s sustained trading below 120.500 could let the price back to 120.313 support.
The downward trend will be restored after the price is set below the level of 120.270.
In this case, the next targets of sellers will be the level of 120.117-119.922.

The technical picture is mixed. Bollinger Bands are pointed downwards. MACD histogram is in the negative zone keeping a signal for the opening of sell positions. Stochastic has left the oversold area and is pointed upwards, reflecting the high possibility of upward movement formation.
EURJPYH401112019-1024x565.png
Support and resistance

Support levels: 120.508, 120.313, 120.117, 119.922.
Resistance levels: 120.703, 120.898, 121.094.

Trading recommendations

Short positions can be opened below the level of 120.508 with the target at around 120.313-120.270 and stop-loss at 120.587.
Long positions can be opened above the level of 120.703 with the target at around 120.898 and stop-loss at 120.617.

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XAU/USD: TECHNICAL ANALYSIS 01.11.2019
Current trend

XAU/USD quotes attempted to grow, but reaching 1513.59 marks moved to a downward correction. If the current trend maintains, the pair can reach the first support at 1507.81. This level seems strong support in the short term period. There is a chance of an upward rebound, while its breakdown will give the prospect of decline to the levels of 1504.62-1500.00.
Alternative scenario.
Rebound from the 1507.81 support will let the price to retest 1513.59 resistance line. However, the upward trend will be restored after the price is set above the level of 1517.91. In this case, the buyers will aim for the level of 1523.44.
The technical picture is mixed. MACD histogram is in the positive zone keeping a signal for the opening of buy positions. Bollinger Bands are diverging on the background of bullish momentum. Stochastic has left the overbought area and is pointed downwards, reflecting the high possibility of the downward movement formation.
XAUUSDH401112019-1024x565.png
Support and resistance

Support levels: 1507.81, 1504.62, 1500.00.
Resistance levels: 1513.59, 1517.91, 1523.44.

Trading recommendations

Short positions can be opened below the level of 1507.81 with the target at around 1504.62 and stop-loss at 1508.81.
Long positions can be opened above the level of 1513.59 with the target at around 1517.91 and stop-loss at 1512.30.

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NZD/USD: TECHNICAL ANALYSIS 01.11.2019
Current trend

NZD/USD is in the stage of a downward correction after rising to the level of 0.64408, but the general upward trend is still maintained. If the sellers manage to decline the rate below the level of 0.64240, the correction can continue to the area of 0.64087. The area of levels 0.64087-0.63934 will be a key support for the short term period. There is a high chance of upward rebound, while the breakdown of the lower border would allow the fall to continue to the area of 0.63782.
Alternative scenario.
One may speak about upward movement continuation after the price consolidates above the resistance level of 0.64408. Pair’s sustained trading beyond above it will see as a key trigger for bullish traders. In this case, the next targets of buyers will be the level of 0.64545-0.64697.
Technical indicators reflect the maintenance of the upward potential. Bollinger Bands are pointed upwards.MACD is actively growing in the positive zone. Stochastic is pointed upwards.
NZDUSDH401112019-1024x565.png
Support and resistance

Support levels: 0.64240, 0.64087, 0.63934.
Resistance levels: 0.64392, 0.64545, 0.64697.

Trading recommendations

Long positions can be opened above the level of 0.64392 with the target at around 0.64545-0.64697 and stop-loss at 0.64290.
Short positions can be opened below the level of 0.64240 with the target at around 0.64087-0.63934 and stop-loss at 0.64342.

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USD/CHF: TECHNICAL ANALYSIS 04.11.2019
Current trend

The USD/CHF pair begins today’s trading with slight bullish bias due to correction.
The first target of the correction is the level of 0.98877, which corresponds to the middle line of Bollinger Bands. The area of 0.98877-0.98941 can prevent the instrument from growing, as the possibility of the reverse of the price is high there. Meanwhile, a decisive break of 0.98941 will indicate the upward trend resumption. In this case, the next targets of buyers will be the level of 0.99030-0.99182.
Alternative scenario.
If USD/CHF cannot consolidate above the level of 0.98724, the downward movement restoration and retest of the level 0.98572-0.98502 are possible. The breakdown of the level 0.98502 will let USD/CHF to decline to the level of 0.98419-0.98267.
Technical indicators mostly reflect the maintenance of the upward correction potential. Bollinger Bands are converging on the background of bullish momentum.MACD volumes are decreasing in the negative zone. Stochastic’s lines are pointed upwards.
USDCHFH40411-1024x565.png
Support and resistance

Support levels: 0.98577, 0.98419, 0.98267.
Resistance levels: 0.98877, 0.99030, 0.99182.

Trading recommendations

Long positions can be opened above the level of 0.98877 with the target at around 0.99030-0.99182 and stop-loss at 0.98775.
Short positions can be opened below the level of 0.98502 with the target at around 0.98267 and stop-loss at 0.98580.

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USD/CAD: TECHNICAL ANALYSIS 04.11.2019
Current trend

USD/CAD is trading below its middle line of Bollinger bands suggesting bearish momentum. If the sellers manage to decline the rate below the level of 1.31320, the correction can continue to the area of 1.31226. This level seems important in the short term period. There is a chance of an upward rebound, while its breakdown will be a signal for downward trend resumption. In this case, the next targets of sellers will be the level of 1.31073-1.30920.
Alternative scenario.
The pullback and pair’s sustained trading beyond 1.31531 level will give the prospect of growth to the levels of 1.31683-1.31836. The area of 1.31836 level seems a strong resistance that can activate a downward correction. Meanwhile, the breakout of this level will be a key trigger for bullish traders. In this case, the next targets of buyers will be the level of 1.31989-1.32141.
Technical indicators reflect the maintenance of the downward potential.
Bollinger Bands are converging on the background of bearish momentum.
MACD volumes are decreasing in the positive zone.
Stochastic is ib the overbought zone and is pointed sideways.
USDCADH40411-1024x565.png
Support and resistance

Support levels: 1.31378, 1.31226, 1.31073.
Resistance levels: 1.31531, 1.31863, 1.31836.

Trading recommendations

Short positions can be opened below the level of 1.31320 with the target at around 1.31226-1.31073 and stop-loss 1.31402.
Long positions can be opened above the level of 1.31531 with the target at around 1.31863 and stop-loss 1.31420.

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EUR/USD: TECHNICAL ANALYSIS 04.11.2019
Current trend

The EURUSD pair begins today’s trading with a slight bullish bias. At the moment the price has met the resistance at the level of 1.11733. The area of 1.11733-1.11790 is a strong resistance zone, which can activate a downward rebound. Decisive breakout and pair' sustained trading above of 1.11800 are needed to indicate uptrend resumption. In this case, the buyers will have their sight on the resistance at 1.12000.
Alternative scenario.
The rebound from 1.11790 and pullback below 1.11542 can lead the price to 1.11450-1.11389 support zone.
The downward trend will be restored after the price is set below the level of 1.11380.
In this case, the next targets of sellers will be the level of 1.11237-1.11084.
The area of 1.11084 seems a key level for the sellers in a short term period.
The technical picture is mixed. Bollinger Bands are pointed upwards. MACD is slowly growing in the positive zone. Stochastic is in the overbought zone and is pointed sideways.
EURUSDH40411-1024x565.png
Support and resistance

Support levels: 1.11542, 1.11389, 1.11084.
Resistance levels: 1.11790, 1.12000, 1.12000.

Trading recommendations

Long positions can be opened above the level of 1.11790 with the target at around 1.12000 and stop-loss 1.11720.
Short positions can be opened below the level of 1.11380 with the target at around 1.11084 and stop-loss 1.11478.

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AUD/USD: TECHNICAL ANALYSIS 05.11.2019
Current trend

On the 4-hour chart, the instrument is correcting up from the lower line of the Bollinger Bands.
At the moment the price has met the resistance at the level of 0.69067, which coincided with the middle line of Bollinger Bands. Assuming the pair’s ability to cross this level the marks of 0.69122-0.69275 can be targeted if holding long positions.
Alternative scenario.
The rebound from the 0.69067 and pair’s sustained trading below 0.68970 level will be a signal for downward movement formation. The downward trend will be restored after the price is set below the level of 0.68759. In this case, the next targets of sellers will be the level of 0.68665-0.68512.
Technical indicators reflect the maintenance of the upward potential. Bollinger Bands are diverging on the background of bullish momentum. MACD is slowly growing in the positive zone. Stochastic is pointed upwards.
AUDUSDH40511-1024x565.png
Support and resistance

Support levels: 0.68970, 0.68817, 0.68665.
Resistance levels: 0.69122, 0.69275, 0.69427.

Trading recommendations

Long positions can be opened above the level of 0.69122 with the target at around 0.69275-0.69427 and stop-loss 0.69022.
Short positions can be opened below the level of 0.68970 with the target at around 0.68817-0.68665 and stop-loss 0.69071.

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USD/JPY: TECHNICAL ANALYSIS 05.11.2019
Current trend

On the 4-hour chart, the pair shows a positive dynamic. The lack of long-term corrections reflects the strength of the current trend. At the moment the price has met the resistance at the level of 108.789. Assuming the pair’s ability to cross this level, the marks of 108.874 can be targeted if holding long positions. The area of 108.984-109.062 seems a strong resistance area, which can activate a price reverse. Meanwhile, the decisive break of 109.062 could trigger a pair’s fresh run-up to a 3-month high surrounding 109.180.
Alternative scenario.
If Bitcoin cannot consolidate above the level of 108.789 during the short term period, the downward movement restoration and retest of the support level 108.594 are possible. The downward trend will be restored after the price is set below this level. In this case, the next targets of sellers will be the level of 108.398.
Technical indicators reflect the maintenance of the current upward trend. Bollinger Bands are diverging on the background of bullish momentum. MACD is slowly growing in the positive zone. Stochastic is in the overbought zone and is pointed sideways.
USDJPYH40511-1024x565.png
Support and resistance

Support levels: 108.594, 108.398, 108.203.
Resistance levels: 108.789, 108.984, 109.180.

Trading recommendations

Long positions can be opened above the level of 108.789 with the target at around 108.984-109.180 and stop-loss 108.658.
Short positions can be opened below the level of 108.594 with the target at around 108.398-108.203 and stop-loss 108.724.

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