Date: May 31st, 2018
EURGBP Tested Major Resistance, Prepare For A Drop!
EURGBP tested its major resistance where we expect to see a further drop.
Sell below 0.8787. Stop loss 0.8830. Take profit at 0.8724.
Reason for the trading strategy (technically):
EURGBP tested its major resistance at 0.8787 (61.8% Fibonacci retracement, 61.8% Fibonacci retracement, 100% Fibonacci extension, descending resistance line) where we expect to see price fall to its support at 0.8699 (horizontal swing low support). We do have to be cautious of the intermediate support at 0.8724 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support).
Stochastic (55, 5, 3) tested its resistance at 98% where a corresponding drop is expected.
Date: May 31st, 2018
AUDNZD Bounced Nicely Off Its Support, Prepare For A Rise!
AUDNZD bounced nicely off its support where we expect to see it rise further.
Buy above 1.0818. Stop loss at 1.0746. Take profit at 1.0940.
Reason for the trading strategy (technically):
AUDNZD bounced nicely off its support at 1.0818 (50% Fibonacci retracement, 61.8% Fibonacci extension, horizontal overlap support) where we expect price to rise to its resistance at 1.0940 (100% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing high resistance).
Stochastic (55, 5, 3) shows a corresponding bounce off its support at 4.7% where we expect to see a rise. We have also identified a bullish divergence with price which contributes to our bullish bias.
Date: May 31st, 2018
BTCUSD Being Held Down By Descending Resistance Line, Remain Bearish
BTCUSD is held down by its descending resistance line where we expect to see a further drop.
Sell below 7745. Stop loss at 8194. Take profit at 7052.
Reason for the trading strategy (fundamentally):
Learning centres, courses, and crypto educational seminars are on the rise in Japan, Thailand, and South Korea. “Bitcoin no Madoguchi” and “Bit Station” have opened up to offer guidance to Japanese investors. The Cryptoasset Revolution course and Cryptonist’s seminar are happening soon in Thailand. Meanwhile, Decenter University and Koscom have launched training courses in South Korea. Tokyo’s “Bitcoin no Madoguchi” explains on its website that, ‘You can receive explanations and guidance about virtual currencies for free from the concierge at a real store so that novice investors in virtual currency can enjoy bitcoins and altcoins easily.’ With more and more people getting educated about bitcoin, we can be sure that the demand and thus value of bitcoin will rise.
Reason for the trading strategy (technically):
BTCUSD is being held down by a long- term descending resistance line where we look to sell on strength at 7745 (100% Fibonacci extension, 100% Fibonacci extension, 23.6% Fibonacci retracement). We expect price to push down to its support at 7052 (horizontal swing low support).
RSI (55) is held down by a corresponding descending resistance line which contributes to our bearish bias.
EURGBP Tested Major Resistance, Prepare For A Drop!
EURGBP tested its major resistance where we expect to see a further drop.
Sell below 0.8787. Stop loss 0.8830. Take profit at 0.8724.
Reason for the trading strategy (technically):
EURGBP tested its major resistance at 0.8787 (61.8% Fibonacci retracement, 61.8% Fibonacci retracement, 100% Fibonacci extension, descending resistance line) where we expect to see price fall to its support at 0.8699 (horizontal swing low support). We do have to be cautious of the intermediate support at 0.8724 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support).
Stochastic (55, 5, 3) tested its resistance at 98% where a corresponding drop is expected.
Date: May 31st, 2018
AUDNZD Bounced Nicely Off Its Support, Prepare For A Rise!
AUDNZD bounced nicely off its support where we expect to see it rise further.
Buy above 1.0818. Stop loss at 1.0746. Take profit at 1.0940.
Reason for the trading strategy (technically):
AUDNZD bounced nicely off its support at 1.0818 (50% Fibonacci retracement, 61.8% Fibonacci extension, horizontal overlap support) where we expect price to rise to its resistance at 1.0940 (100% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing high resistance).
Stochastic (55, 5, 3) shows a corresponding bounce off its support at 4.7% where we expect to see a rise. We have also identified a bullish divergence with price which contributes to our bullish bias.
Date: May 31st, 2018
BTCUSD Being Held Down By Descending Resistance Line, Remain Bearish
BTCUSD is held down by its descending resistance line where we expect to see a further drop.
Sell below 7745. Stop loss at 8194. Take profit at 7052.
Reason for the trading strategy (fundamentally):
Learning centres, courses, and crypto educational seminars are on the rise in Japan, Thailand, and South Korea. “Bitcoin no Madoguchi” and “Bit Station” have opened up to offer guidance to Japanese investors. The Cryptoasset Revolution course and Cryptonist’s seminar are happening soon in Thailand. Meanwhile, Decenter University and Koscom have launched training courses in South Korea. Tokyo’s “Bitcoin no Madoguchi” explains on its website that, ‘You can receive explanations and guidance about virtual currencies for free from the concierge at a real store so that novice investors in virtual currency can enjoy bitcoins and altcoins easily.’ With more and more people getting educated about bitcoin, we can be sure that the demand and thus value of bitcoin will rise.
Reason for the trading strategy (technically):
BTCUSD is being held down by a long- term descending resistance line where we look to sell on strength at 7745 (100% Fibonacci extension, 100% Fibonacci extension, 23.6% Fibonacci retracement). We expect price to push down to its support at 7052 (horizontal swing low support).
RSI (55) is held down by a corresponding descending resistance line which contributes to our bearish bias.