Weakness of the EUR. Bitcoin one small step from the major buy signal
The calendar this week is empty so luckily we are focusing more on the technical analysis. EURUSD is suffering losses after creating the false breakout pattern above the 1.2520 resistance. That sparked a bearish movement with a potential target on the mid-term up trendline.
EURNZD is very close for a major sell signal. All we need is the price closing on the new weekly lows. The short-term weakness of this pair (inability to break the resistance on the 1.6845) increases the chances for a major drop.
Bitcoin just made the correction equality pattern and is a very important mid-term resistance. If sellers want to bring back the downtrend, that is the last call. Price closing a day above the 12k USD will be a major buy signal for this cryptocurrency.
This article is written by Tomasz Wisniewski, a senior analyst at Alpari Research & Analysis
This article was originally posted on FX Empire
