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
cabinet icon

InstaForex – always at the forefront!Open a trading account and become a part of the InstaForex Loprais Team!

Success history of the team headed by Ales Loprais can become your success history! Trade confidently and head towards leadership like regular participant of Dakar Rally and winner of Silk Way Rally InstaForex Loprais Team does it!

Join in and win with InstaForex!

Instant account opening

Get a letter of instructions
toolbar icon

Trading Platform

For mobile devices

For trading via browser

Crypto Industry News:

Venezuelan President Nicholas Maduro announced that the Christmas bonus for pensioners from the country will be paid to them in the national Petro cryptocurrency. The local press daily Venepress wrote on Twitter about Maduro's comments on November 17.

This is not the first time Venezuela is pushing Petro into the portfolio of retirees. In December last year, the country automatically converted pensioners' bonuses for this year into Petro.

The cryptographic resource in question was first introduced for pre-sale in February last year and raised concerns among foreign observers from the very beginning. At the end of August last year, Petro was sharply condemned as an opaque "feat" supported by a centralized and indebted unit.

Still, the national cryptocurrency and cryptocurrencies as a whole are increasingly supported by the government.

Member of the National Assembly of Venezuela, Francisco Torrealba, on November 13 said he believes that all currencies will be replaced by cryptocurrencies. Speaking of Venezuela, Torrealba claimed that the country is facing great changes, and Maduro is making a "great contribution" to the country by creating Petro.

Technical Market Overview:

The ETH/USD pair has been trading inside of the narrow corrective range since the 27th of October and still. All the bullish attempts to continue the rally are being capped around the level of $188.93 and on the other hand, all bearish spikes down are being bought back up around the level of $175.00. Nevertheless, the bears have managed to push the price lower towards the key short-term technical support located at the level of $172.91. If this level is clearly violated, then the sell-off might start and extend the move towards the level of $169.68, which is a 61% Fibonacci retracement of the whole up move.

Weekly Pivot Points:

WR3 - $203.37

WR2 - $196.19

WR1 - $190.39

Weekly Pivot - $183.21

WS1 - $177.25

WS2 - $170.00

WS3 - $164.35

Trading Recommendations:

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 19.11.2019 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 © 2007-2020
Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

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