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      • Forex outlooks- 09.18.2020

      Forex outlooks- 09.18.2020

      • Posted by Mihai Iacob
      • Categories Forex Analysis
      • Date September 18, 2020
      • Comments 0 comment
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      Bitcoin- time to sell?

      In my previous BtcUsd analysis I said that bitcoin can rise to 11k zone from 10k bottom.
      Now the price is just into this zone…
      With a confluence resistance given by ascending trendline and horizontal level, I expect a new leg down from Bitcoin that can bring the price under 10k to 9k support.
      A sell trade around 11.200 can also have a good 1:2 R:R.



      CadJpy- 80 should be sold:

      After breaking the neckline support of the H&S that I ve spoken about in my previous CadJpy analysis, the pair dropped pretty quickly and reached the measured target at around 79 zone.
      Now the pair is correcting this drop and a retest on 80 new resistance is not out of the question.
      I will look for selling opportunities in that zone for a trade with 1:2 R:R.





      Nasdaq outlook:

      After finding a top in 12400 all-time high, Nas100 had a normal correction and dropped 11k zone.
      This 10% correction doesn’t change anything and both long-term and medium-term trends are bullish .
      11k zone is well defended by buyers and I expect at least a retest of the new range’s resistance soon.
      I will look for buying opportunities.





      Gold- new leg down on short term?

      After breaking under short term trend-line, Gold dropped and found support under 1940 zone.
      This rally that we assist is a correction of 1970-1935 drop , and in my opinion, should be sold.
      The target for shorts could be 1920 support and a rise above 1960 zone would invalidate this short term bearish outlook.



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      Mihai Iacob
      Mihai Iacob is a full time trader, educator, mentor and author. He started his career in 2002 by trading on the local stock exchange in Romania. In 2004, he began his transition to international markets where he has been trading exclusively since 2007 with a strong focus on Forex trading. In 2007, he launched the educational site forexedu.ro with the aim of educating Romanian traders in forex trading and helping them on their way to becoming profitable traders. In 2019 he launches Optimoomfx Telegram channel, a trading signal channel, in which he posts its own transactions, but also analyzes and explanations for subscribers to learn as they earn.

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