Bitcoin analysis and trading plan for 17/11/2017

Trading plan for 17/11/2017:
With the start of the Asian session, the US Dollar was under pressure, though it was not easy to find a sales catalyst. EUR/USD has bounced above 1.18, USD/JPY has fallen to 112.50. But already the AUD/USD and NZD/USD have been lowered, and the declines are now deepening to 0.7560 and 0.6840, respectively. This suggests that the market is subject to strong fluctuations caused by changes in large investors’ positions on the illiquid market, which results in a breach of stop-loss orders. 
On Friday 17th of November, the event calendar is light in important news releases, but market participants will keep an eye on Building Permits and Housing Starts data from the US and Consumer Price Index data from Canada. Two speeches are scheduled as well. The first speech is from ECB President Mario Draghi in the morning and second from FOMC Member John C. Williams in the evening.

Bitcoin analysis for 17/11/2017:
Ukraine is consistently pursuing the legalization of Bitcoin in the country. 
Global macro overview:
Bank of England will support UK economy after Brexit.
The unemployment rate in Australia fell from 5.5% to 5.4%, while the most of the market participants expected no change.

About the author

Sebastian Seliga

Aktywny trader, analityk, ekspert metod inwestycyjnych bazujących na teorii fal Elliott'a, geometrii Fibonacciego i nie tylko.

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