EUR/USD has been on a downslope this week, managing only to recover some of its losses on Thursday. Today we are seeing some negative activity in the pair’s price, where it made a significant move down from its yesterday’s highs of around 1.23520.
The Euro is currently trading against the US Dollar below the upwards moving trendline , that started around mid-December last year. Even though yesterday it had a push back slightly above it, still this momentum was short-lived and the pair sold off again. If EUR/USD starts getting below 1.22850 level, then we must carefully monitor the probability for the pair to hit 1.22600. If this area won’t hold, then a push to the 1.22300 or even 1.22 could be next.
If we suddenly get a move back up above the previously mentioned short-term upwards moving trendline , then the next level to watch would be 1.23500. If broken, EUR/USD could make a move to 1.23900 or even to 1.24250.
Long term view for BTC is bearish . Currently BTC is trading below 50 MA and also below 100 MA. BTC is currently trading at 10107 and holding both support and psychological level at 10000.
Having said that it seems there are still some gas left in BTC , means BTC is expected to bounce back again from this level and trade between 10K and 12K for some time before turning back.
BCH looks pretty grim with “death cross” MA 40/MA 80, price at MA 80 level was rejected by market. BCH is currently trading at 1210, 1200 is a strong support level for BCH and also a physiological level.
This level is expected to hold BCH for some time and expect choppy market for BCH for next couple of days with price likely to move between 1200 and 1500 before BCH breaks down 1200.
ETH is currently trading at and above 100MA, above 800, which is also a support level . ETH is expected to hold this level for some time and likely to bounce back from here.