Date: April 3, 2018
EURUSD Approaching Support, Prepare For A Bounce
EURUSD is approaching its support, we can expect a bounce soon.
Buy above1.2283. Stop loss at 1.2284. Take profit at 1.2436.
Reason for the trading strategy (technically):
Price is approaching its buying level support at 1.2284 (61.8% Fibonacci retracement, 78.6% Fibonacci retracement, multiple swing low support) where we expect a bounce from to push prices all the way up to major resistance at 1.2436 (61.8% Fibonacci extension, 78.6% Fibonacci retracement, horizontal overlap resistance). We do have to be cautious about intermediate resistance at 1.2380 (50% Fibonacci retracement, horizontal overlap resistance).
Stochastic (89, 5, 3) is seeing a nice support at 1.8% where we expect prices to bounce when it’s around that level.
Date: April 3, 2018
GBPJPY Approaching Support, Prepare For A Bounce
GBPJPY is approaching its support, we can expect a bounce soon.
Buy above 148.484. Stop loss at 147.802. Take profit at 149.685.
Reason for the trading strategy (technically):
Price is approaching its buying level support at 148.484 (38.2% Fibonacci retracement, 78.6% Fibonacci retracement, 61.8% Fibonacci extension, Horizontal overlap support) where we expect a bounce from to push prices all the way up to major resistance at 149.768 (61.8% Fibonacci retracement, horizontal overlap resistance). We do have to be cautious of the intermediate resistance at 149.271 (100% Fibonacci extension, horizontal overlap resistance).
Stochastic (89, 5, 3) is approaching its support at 6.9% where we can expect a bounce.
Date: April 3, 2018
EURCHF Approaching Support, Prepare For A Bounce
EURCHF is approaching its support, we can expect a bounce soon.
Buy above 1.1727. Stop loss at 1.1688. Take profit at 1.1802
Reason for the trading strategy (technically):
Price is approaching its buying level support at 1.1727(23.6% Fibonacci retracement, 50% Fibonacci retracement, Horizontal overlap support) where we expect a bounce from to push prices all the way up to major resistance at 1.1802 (horizontal swing high resistance). We have also identified an ascending support line which contributes to our bullish bias.
Stochastic (55, 5, 3) bounced from its support at 14.8% where it has a lot of upside potential. A corresponding ascending support line has also been identified.
Date: April 3, 2018
Bitcoin has made a Bullish Exit
Bitcoin has made a bullish exit from its long term descending channel. Potential to rise further.
Buy above 7247. Stop loss at 6818. Take profit at 8268.
Reason for the trading strategy (fundamentally):
The value of bitcoin has been hanging in there following a turbulent start to the year with prices rocketing over Christmas and plummeting back in January and February as government and central banks around the world continue to raise the spectre of future regulation. Aside from the looming prospects of regulation, a series of high profile thefts has contributed to its rapid dips in bitcoin value. Google has also recently announced that it would ban cryptocurrency advertising from its pages from June onwards suggesting that it considers it “deceptive content”. This has caused a major blow to the sector.
Reason for the trading strategy (technically):
Price has broken out of our descending channel and we look to buy above major resistance at 7247 (78.6% Fibonacci retracement, horizontal overlap resistance, channel breakout). It’s important to see that price not only breaks out of our bearish channel, but also to break above our major resistance at 7247 to confirm our bullish reversal. We can also see that price has crossed over our Ichimoku cloud which is the first precursor of a potential bullish reversal.
RSI (55) has made a bullish exit signalling that we might be seeing a bullish exit in price too.
EURUSD Approaching Support, Prepare For A Bounce
EURUSD is approaching its support, we can expect a bounce soon.
Buy above1.2283. Stop loss at 1.2284. Take profit at 1.2436.
Reason for the trading strategy (technically):
Price is approaching its buying level support at 1.2284 (61.8% Fibonacci retracement, 78.6% Fibonacci retracement, multiple swing low support) where we expect a bounce from to push prices all the way up to major resistance at 1.2436 (61.8% Fibonacci extension, 78.6% Fibonacci retracement, horizontal overlap resistance). We do have to be cautious about intermediate resistance at 1.2380 (50% Fibonacci retracement, horizontal overlap resistance).
Stochastic (89, 5, 3) is seeing a nice support at 1.8% where we expect prices to bounce when it’s around that level.
Date: April 3, 2018
GBPJPY Approaching Support, Prepare For A Bounce
GBPJPY is approaching its support, we can expect a bounce soon.
Buy above 148.484. Stop loss at 147.802. Take profit at 149.685.
Reason for the trading strategy (technically):
Price is approaching its buying level support at 148.484 (38.2% Fibonacci retracement, 78.6% Fibonacci retracement, 61.8% Fibonacci extension, Horizontal overlap support) where we expect a bounce from to push prices all the way up to major resistance at 149.768 (61.8% Fibonacci retracement, horizontal overlap resistance). We do have to be cautious of the intermediate resistance at 149.271 (100% Fibonacci extension, horizontal overlap resistance).
Stochastic (89, 5, 3) is approaching its support at 6.9% where we can expect a bounce.
Date: April 3, 2018
EURCHF Approaching Support, Prepare For A Bounce
EURCHF is approaching its support, we can expect a bounce soon.
Buy above 1.1727. Stop loss at 1.1688. Take profit at 1.1802
Reason for the trading strategy (technically):
Price is approaching its buying level support at 1.1727(23.6% Fibonacci retracement, 50% Fibonacci retracement, Horizontal overlap support) where we expect a bounce from to push prices all the way up to major resistance at 1.1802 (horizontal swing high resistance). We have also identified an ascending support line which contributes to our bullish bias.
Stochastic (55, 5, 3) bounced from its support at 14.8% where it has a lot of upside potential. A corresponding ascending support line has also been identified.
Date: April 3, 2018
Bitcoin has made a Bullish Exit
Bitcoin has made a bullish exit from its long term descending channel. Potential to rise further.
Buy above 7247. Stop loss at 6818. Take profit at 8268.
Reason for the trading strategy (fundamentally):
The value of bitcoin has been hanging in there following a turbulent start to the year with prices rocketing over Christmas and plummeting back in January and February as government and central banks around the world continue to raise the spectre of future regulation. Aside from the looming prospects of regulation, a series of high profile thefts has contributed to its rapid dips in bitcoin value. Google has also recently announced that it would ban cryptocurrency advertising from its pages from June onwards suggesting that it considers it “deceptive content”. This has caused a major blow to the sector.
Reason for the trading strategy (technically):
Price has broken out of our descending channel and we look to buy above major resistance at 7247 (78.6% Fibonacci retracement, horizontal overlap resistance, channel breakout). It’s important to see that price not only breaks out of our bearish channel, but also to break above our major resistance at 7247 to confirm our bullish reversal. We can also see that price has crossed over our Ichimoku cloud which is the first precursor of a potential bullish reversal.
RSI (55) has made a bullish exit signalling that we might be seeing a bullish exit in price too.