BTC/USD is down 2.5%, $9,000 resistance is still out of reach-

Bitcoin price analysis

29
SEPT, 2017
The US Dollar has been gaining ground against its counterparties until Thursday, while today has been easing. The US Dollar index peaked at 93.46 and today we saw it retracing to support at 92.85. The greenback was strengthening as Trump offered a Tax plan to cut tax rates for businesses and individuals although not clear yet.

The bounce up could provide better selling prices to enter in the short side. Lastly, yesterday US Jobless Claims were mostly in line with expectations while the US GDP data were slightly higher than expected at 3.1% versus 3.0% projection.

The EURUSD was underscored by improving German unemployment and rebounded to 1.1808 today. The currency pair found support at yesterday trading at 1.1720 after falling straight from 1.2000, following the German Elections. Should the resistance at 1.1808 is breached then next resistance is at 1.1840. Moreover, there has been discussion around ECB for tapering asset purchase program which would give an extra support to the currency pair.

The GBPUSD on the other hand despite the retrace to resistance at 1.3452 was not able to hold its ground and returned to support at 1.3350, should that is breached then next support is at 1.3315 and 1.3253. For today we should be looking at UK Current Account, growth data, consumers credit and mortgage approvals.

Elsewhere, the AUDUSD was steady above the major resistance at 0.7800, I would expect prices to retest that support and should they break it the downtrend will continue towards 0.7760. On Monday, it is a holiday for Australia and China and relatively lower liquidity should be expected. The USDCAD retraced to 1.2415 from September peak to 1.2516, prices could continue to support at 1.2335. Later today we look at GDP data release while next week major news are coming in for the currency pair.