Site map
العربية Български 中文 Čeština English Français Deutsch हिन्दी Bahasa Indonesia Italiano Bahasa Malay اردو Polski Português Română Русский Srpski Slovenský Español ไทย Nederlands Українська Vietnamese বাংলা Ўзбекча O'zbekcha Қазақша

InstaForex Client Area

  • Personal settings
  • Access to all InstaForex services
  • Detailed statistics and reports on trades
  • Full range of financial transactions
  • System of managing several accounts
  • Maximum data protection

InstaForex Partner Area

  • Full information on clients and commissions
  • Graphic statistics on accounts and clicks
  • Webmaster instruments
  • Ready-made web solutions and wide range of banners
  • High data protection level
  • Company's news, RSS feeds, and forex informers
Register account
Affiliate Program
cabinet icon

Another Lamborghini from InstaForex!Maybe it will be you who will take the keys!

Just make a deposit of at least $1,000 to your account!

Get the best trading conditions and attractive bonus offers! We have already given 6 legendary sports cars! But it does not stop there! The next Lamborghini Huracan of the latest generation may be yours!

InstaForex – invest in your victories!

Instant account opening

Get a letter of instructions
toolbar icon

Trading Platform

For mobile devices

For trading via browser

Crypto Industry News:

European Commissioner for Finance, Valdis Dombrovskis, has promised to propose new regulations governing cryptocurrencies, such as Facebook Libra.

According to financial media reports, speaking to EU legislators, Dombrovskis said:

"Europe needs a common approach to crypto-assets such as Libra. I intend to propose new legislation in this area."

Dombrovskis, who was the Prime Minister and Minister of Finance of Latvia and a Member of the European Parliament in the years 2004–2009, is currently seeking reappointment as the Vice-President of the European Commission.

If he were re-appointed, he would be given the task of "an economy that works for the people" and would still be responsible for the Commission's financial services portfolio and its work on "deepening economic and monetary union", as emphasized by the chairwoman Ursula von der Leyen.

In addition to emphasizing the need for new legislation on cryptocurrencies in Europe, Dombrovskis spoke of the need for the EU to address "unfair competition, cybersecurity, and threats to financial stability".

Technical Market Overview:

The BTC/USD pair has broken through the technical resistance located at the level of $8,474 (now support) and made a fresh new local high at the level of $8,647. The momentum is increasing, so the next target for bulls after the breakout is done is seen at the level of $9,046. If this will be the impulsive wave upward, then the low located at the level of $7,676 will be confirmed as the bottom for the wave (c) of wave (A) and the market will develop the wave (B) of the overall corrective move.

Weekly Pivot Points:

WR3 - $9,064

WR2 - $8,729

WR1 - $8,221

Weekly Pivot - $7,955

WS1 - $7,433

WS2 - $7,138

WS3 - $6,572

Trading recommendations:

Due to the short-term impulsive scenario invalidation, the best strategy in the current market conditions is to trade with the larger timeframe trend, which is still up. All the shorter timeframe moves are still being treated as a counter-trend correction inside of the uptrend. When the wave 2 corrective cycles are completed, the market might will ready for another impulsive wave up of a higher degree and uptrend continuation.

Exchange Rates 10.10.2019 analysis

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Performed by Sebastian Seliga,
Analytical expert
InstaForex Group © 2007-2019
Benefit from analysts’ recommendations right now
Top up trading account
Get a bonus from InstaForex

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade