☆ Daily Technical Analysis by MEX Exchange ☆

MEX_Exchange · March 14, 2018, 2:46am

Date: March 14, 2018

AUDUSD is above strong support, remain bullish

AUDUSD has made a bullish exit and is hovering over a strong support area, great opportunity to go long.

Buy above 0.7837. Stop loss at 0.7776. Take profit at 0.7983.
Reason for the trading strategy (technically):
Price is hovering nicely above major support at 0.7837 (Fibonacci retracement, horizontal pullback support, ichimoku cloud, ascending support) and a bounce can push us up to at least 0.7983 resistance (Fibonacci retracement, horizontal swing high resistance).
RSI (55) sees that we’ve made a bullish exit of our long term descending resistance line and our short term ascending support is holding our momentum up really nicely.

USDJPY has made a strong bullish exit, upcoming rally

USDJPY has shifted momentum strongly towards being bullish and we’re at a good level to enter a long trade.

Buy above 106.35. Stop loss at 105.40. Take profit at 108.45.
Reason for the trading strategy (technically):
Price has made a bullish exit of our long term descending resistance-turned-support line meaning our momentum is shifting from bearish to bullish. We look to buy above major support at 106.35 (Fibonacci retracement, horizontal overlap support) for a strong push up to 108.45 resistance (Fibonacci retracement, horizontal pullback resistance). We do have to be cautious of intermediate resistance at 107.82 (Fibonacci retracement, horizontal swing high resistance).
RSI (89) sees a bullish exit on RSI signalling a shift in momentum from bearish to bullish too.

GBPUSD has broke major resistance, time to go long

GBPUSD has broken major resistance and is lining up perfectly for a strong rally.

Buy above 1.3923. Stop loss at 1.3864. Take profit at 1.4068.
Reason for the trading strategy (technically):
Price has broken major descending resistance-turned-support line and looks poised to rally from here. We look to buy above major support at 1.3923 (Fibonacci retracement, horizontal overlap support, bullish Ichimoku cloud) for a push up to at least 1.4068 resistance (Fibonacci retracement, horizontal swing high resistance).
RSI (55) has made a similar bullish exit signalling that we’re really seeing a shift in momentum.

Bitcoin has bounced perfectly, remain bullish for a further rise

Bitcoin has made a bullish exit of our triangle formation, lining up nicely for a strong rally.

Buy above 8838. Stop loss at 8380. Take profit at 9868.
Reason for the trading strategy (fundamentally):
The big upcoming news event today is the “Examining Cryptocurrencies and ICO Markets” held by a subcommittee of the U.S. House of Representatives Financial Services Committee. The degree of legal expertise tapped for the panel suggests that the discussion is likely to revolve around regulatory topics, especially on the question of classifying some tokens as securities. The mood around the whole meeting is generally positive with Gaincarlo remarking that they owe it to this new generation to respect their enthusiasm for virtual currencies, with a thoughtful and balanced response, and not a dismissive one.
Reason for the trading strategy (technically):
Price has broken out nicely from our triangle formation leading to a strong bounce. We remain bullish above 8838 support (Fibonacci retracement, Fibonacci extension, horizontal overlap support) for a push up to at least 9868 resistance (Fibonacci retracement, horizontal swing high resistance).
Stochastic (89,5,3) is seeing strong support above 9.6% and has good upside potential for our rise.

MEX_Exchange · March 15, 2018, 2:05am

Date: March 15, 2018

AUDJPY prepare to sell on break of major support

AUDJPY has broke our intermediate support but still has to break a big support level to open a bearish move.

Sell below 83.30. Stop loss at 84.06. Take profit at 81.58.
Reason for the trading strategy (technically):
Price has made a bearish exit of our ascending support-turned-resistance line and still has one major resistance to break to open a big bearish drop. We look to sell on the break of 83.30 (Fibonacci retracement, horizontal overlap support, Fibonacci extension) for a drop all the way to 81.58 support (Fibonacci extension, horizontal swing low support).
RSI (34) has made a similar bearish exit signalling that a drop could also be on the horizon.

USDCHF testing ascending support, prepare for a bounce

USDCHF is seeing some nice support and a nice bounce could occur from here.

Buy above 0.9421. Stop loss at 0.9335. Take profit at 0.9536.
Reason for the trading strategy (technically):
Price is testing strong support at 0.9421 (ascending support, Fibonacci retracement, horizontal overlap support) and a strong bounce could occur from here to push price up to 0.9536 resistance (Fibonacci retracement, horizontal overlap resistance, Fibonacci extension.
Stochastic (34,5,3) is also seeing strong support above 4.2% where a corresponmding bounce could occur.

GBPUSD right on pullback support, remain bullish

GBPUSD has made a nice pullback to our buying entry presenting us a good opportunity to go long again.

Buy above 1.3923. Stop loss at 1.3864. Take profit at 1.4068.
Reason for the trading strategy (technically):
Price has made a pullback to our buying entry and bounced off it nicely confirming that it is a strong area of interest. We look to buy above major support at 1.3923 (Fibonacci retracement, horizontal overlap support, bullish Ichimoku cloud) for a push up to at least 1.4068 resistance (Fibonacci retracement, horizontal swing high resistance).
RSI (89) has made a similar bullish exit signalling that we’re really seeing a shift in momentum.

Bitcoin has broken major resistance, remain bearish

Bitcoin looks poised to drop even further after breaking major resistance.

Sell below 8463. Stop loss at 8870. Take profit at 7608.
Reason for the trading strategy (fundamentally):
The biggest news to hit cryptocurrency hard is google announcing that they will be banning ICO and Crypto ads starting in June. This has hit bitcoin hard and the confidence of many of its investors. With facebook already banning them and now what is the largest advertising platform banning them too, there are less and less decent places to advertise.
Reason for the trading strategy (technically):
Price has broken a number of strong support levels and looks poised to drop even further. We look to sell on strength below major resistance at 8463 (Fibonacci retracement, horizontal pullback resistance, Elliott wave structure) for a further drop to at least 7608 support (Fibonacci retracement, Elliott wave structure, Fibonacci extension).
RSI (34) has made a similar bearish exit of our ascending support-turned-resistance line signalling that a further drop could be expected.

MEX_Exchange · March 16, 2018, 2:45am

Date: March 16, 2018

AUDUSD approaching strong support, prepare to buy

AUDUSD is lining up a nice buying opportunity for us, prepare to go long.

Buy above 0.7775. Stop loss at 0.7732. Take profit at 0.7838.
Reason for the trading strategy (technically):
Price is approaching major support at 0.7775 (Fibonacci retracement, horizontal overlap support, pullback support) and a strong bounce could occur at this level to push prices up to 0.7838 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (34,5,3) is seeing strong support above 3.7% where a corresponding bounce could occur.

EURJPY right on major support, time to buy

EURJPY is presenting us with a nice opportunity to go long on.

Buy above 130.62. Stop loss at 129.75. Take profit at 132.35.
Reason for the trading strategy (technically):
Price is testing strong support at 130.62 (Fibonacci retracement, horizontal overlap support) and a strong bounce could occur at this level to push prices up to 132.35 resistance (Fibonacci retracement, horizontal swing high resistance).
Stochastic (34,5,3) is seeing strong support above 4.8% where a corresponding bounce could occur.

GBPUSD right on buying entry, time to get in

GBPUSD is hovering around our buying entry level presenting us with a good opportunity to buy.

Buy above 1.3923. Stop loss at 1.3864. Take profit at 1.4068.
Reason for the trading strategy (technically):
Price continues to test our buying entry perfectly. We look to buy above major support at 1.3923 (Fibonacci retracement, horizontal overlap support, bullish Ichimoku cloud) for a push up to at least 1.4068 resistance (Fibonacci retracement, horizontal swing high resistance).
RSI (89) has made a similar bullish exit signalling that we’re really seeing a shift in momentum. We’re also seeing a pullback to our RSI support where another bounce could occur.

Bitcoin profit target reached, prepare for another drop

Bitcoin dropped perfectly before bouncing up and reacting off our resistance once again.

Sell below 8417. Stop loss at 8870. Take profit at 7608.
Reason for the trading strategy (fundamentally):
The cryptocurrency world has been hit hard once again with South Korean prosecutors raiding three cryptocurrency exchanges this week over suspicions that staff embezzled funds from customers’ accounts, siphoning off money to purchase cryptocurrencies at other exchanges. This has once again hit investors’ confidence learning that the very exchanges they trust could actually be backstabbing them.
Reason for the trading strategy (technically):
Price dropped perfectly to our profit target level before bouncing up and completing the wave 4 elliott wave structure as expected which has led to another drop. We look to sell below 8417 resistance (Fibonacci retracement, horizontal overlap resistance) for a strong push down to 7608 support (Fibonacci extension, Elliott wave structure).
Stochastic (34,5,3) is seeing major resistance at 92% where a corresponding reaction could occur.

MEX_Exchange · March 19, 2018, 2:11am

Date: March 19, 2018

AUDJPY plunged perfectly to our profit target, prepare for a bounce

AUDJPY has reached our profit target and is poised for a bounce.

Buy above 81.47. Stop loss at 80.75. Take profit at 83.31.
Reason for the trading strategy (technically):
Price has dropped perfectly from our selling area and has reached our profit target. We prepare to buy above 81.47 support (Fibonacci extension, major horizontal swing low support) for a bounce up to 83.31 (Fibonacci retracement, horizontal overlap resistance). We do have to be caution of intermediate resistance at 82.56.
Stochastic (34,5,3) is seeing major support above 6% where a corresponding bounce could occur.

EURJPY broken major support, look to sell on strength

EURJPY is in a bearish channel and our goal is to sell on strength to rise the momentum down.

Sell below 130.59. Stop loss at 131.02. Take profit at 129.46.
Reason for the trading strategy (technically):
Price is seeing major resistance at 130.59 (Fibonacci retracement, horizontal overlap resistance, bearish channel) and we expect price to drop from here towards 129.46 support (Fibonacci extension, horizontal swing low support). We keep our stop loss right at 131.02 (Fibonacci retracement, horizontal overlap resistance).
RSI (89) is also in a descending channel and we expect it to drop further in parallel with price.

GBPUSD bouncing nicely off our support, remain bullish

GBPUSD is bouncing nicely above our buying entry, we remain bullish for a further rise.

Buy above 1.3923. Stop loss at 1.3864. Take profit at 1.4068.
Reason for the trading strategy (technically):
Price has tested our buying entry and bounced nicely off it showing there are clearly some buyers at that level. We remain bullish looking to buy above major support at 1.3923 (Fibonacci retracement, horizontal overlap support, bullish Ichimoku cloud) for a push up to at least 1.4068 resistance (Fibonacci retracement, horizontal swing high resistance).
RSI (89) has made a similar bullish exit signalling that we’re really seeing a shift in momentum.

Bitcoin profit target reached once again, prepare for a drop

Bitcoin has reached our profit target before bouncing nicely. Prepare for a drop.

Sell below 8590. Stop loss at 8893. Take profit at 7837.
Reason for the trading strategy (fundamentally):
The major news events surrounding cryptocurrency would be Israel’s securities regulator has said that cryptocurrency-related firms may not be listed on the Tel Aviv Stock Exchange (TASE) index because of the high volatility which would be a risk for passive investors whose portfolios track the indices. However, crypto-asset firms can still be traded on the exchange itself. There is some good news though, with Peter Thiel, billionaire co-founder of PayPal, has once again endorsed bitcoin which he recently argued is tantamount to digital gold. This has caused the recent spike in Bitcoin’s prices but there remains a bigger picture of uncertainty surrounding it with Peter Thiel admitting that there is a 50-80% change in will have no value in the future.
Reason for the trading strategy (technically):
Price has dropped perfectly to our profit target before bouncing up nicely. We look to sell below major resistance at 8590 (Fibonacci retracement, horizontal overlap resistance, Elliott wave structure) for a drop once again to support at 7837 (Fibonacci retracement, horizontal pullback support).
Stochastic (34,5,3) is seeing major resistance at 92% where a corresponding reaction could occur.

MEX_Exchange · March 20, 2018, 2:09am

Date: March 19, 2018

AUDJPY Has Bounced Perfectly, Remain Bullish

AUDUSD touched our buy entry and bounced perfectly, we will remain bullish for a further rise.

Buy above 81.47. Stop loss at 80.75. Take profit at 83.31.
Reason for the trading strategy (technically):
Price touched our buying entry and bounced absolutely perfectly as expected. We remain bullish above 81.47 support (Fibonacci extension, major horizontal swing low support) for a bounce up to 83.31 (Fibonacci retracement, horizontal overlap resistance). We do have to be caution of intermediate resistance at 82.56.
Stochastic (34,5,3) is seeing major support above 6% where a corresponding bounce could occur.

CADJPY Testing Major Support, Prepare For A Bounce

CADJPY is starting to show signs of a major reversal, time to start buying.

Buy above 80.58. Stop loss at 79.60. Take profit at 83.46.
Reason for the trading strategy (technically):
Price is seeing major support above 80.58 (Fibonacci extension, major 2 year swing low, Elliott wave structure, bullish divergence) and a strong bounce could occur at this level to push prices all the way up to 83.46 resistance (Fibonacci retracement, horizontal swing high resistance).
Stochastic (89,5,3) is seeing major support above 1.4% where a corresponding bounce could occur. We’re also seeing bullish divergence vs price signalling that a bounce is impending.

EURUSD Right On Resistance, Time To Sell

EURUSD is reversing nicely below strong resistance, good opportunity to start selling.

Sell below 1.2354. Stop loss at 1.2385. Take profit at 1.2295.
Reason for the trading strategy (technically):
Price is testing major resistance at 1.2354 (Fibonacci retracement, horizontal overlap resistance, Fibonacci extension) and a strong reaction could occur at this level to push prices down all the way to 1.2295 support (Fibonacci retracement, horizontal overlap support).
Stochastic (34,5,3) is seeing major resistance at 93% where a corresponding reaction could occur.

Bitcoin Reversing Nicely, Remain Bearish

Bitcoin is reacting nicely off our selling area. We remain bearish waiting for the drop.

Sell below 8590. Stop loss at 8893. Take profit at 7837.
Reason for the trading strategy (fundamentally):
The big news event surrounding cryptocurrency is Donald Trump signing an executive over to impose new sanctions against Venezuela for its controversial “petro” cryptocurrency. This was done as they see that Venezuela is seeking to use the cryptocurrency as a way to circumvent international sanctions. There has been positive news, though, with Britain’s junior finance minister, John Glen, announcing that the government will launch new research aimed to explore the potential risks posed by cryptocurrencies like bitcoin. This is a step towards more wider acceptance of Bitcoin as it would allow them to fully appreciate the value it brings.
Reason for the trading strategy (technically):
Price has risen to our selling area and started to react off it nicely. We remain bearish looking to sell below major resistance at 8590 (Fibonacci retracement, horizontal overlap resistance, Elliott wave structure, bearish divergence) for a drop once again to support at 7837 (Fibonacci retracement, horizontal pullback support).
Stochastic (34,5,3) is seeing major resistance at 92% with good downside potential. We can see bearish divergence vs price which is a good signal that a reversal is impending.

MEX_Exchange · March 21, 2018, 2:03am

Date: March 21, 2018

AUDNZD Is Right On Resistance, Time To Sell

AUDNZD is testing major resistance and presents us with a good opportunity to sell.

Sell below 1.0711. Stop loss at 1.0734. Take profit at 1.0656.
Reason for the trading strategy (technically):
Price is testing major resistance at 1.0711 (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) and a strong reaction could occur at this level to push prices down to 1.0656 support (Fibonacci extension, Fibonacci retracement, horizontal overlap support).
Stochastic (89,5,3) is seeing major resistance at 95% and a corresponding reaction could occur at this level.

NZDUSD Bearish Breakout, Time To Sell

NZDUSD has broken out of our major support, now is a good time to sell.

Sell below 0.7188. Stop loss at 0.7249. Take profit at 0.7032.
Reason for the trading strategy (technically):
Price has made a bearish breakout of our major support level at 0.7188 (Fibonacci retracement, horizontal overlap support) and is poised to drop further from here towards our profit target support level at 0.7032 (Fibonacci retracement, horizontal pullback support).
RSI (89) sees descending resistance hold our prices down really well and adds to our bearish bias.

USDJPY Poised For A Bounce, Time To Buy

USDJPY is reversing nicely and looks set for a nice rally.

Buy above 106.35. Stop loss at 105.40. Take profit at 108.45.
Reason for the trading strategy (technically):
Price has risen above our strong overlap support at 106.35 (horizontal overlap support, Fibonacci retracement) and looks poised to make a rally from here towards 108.45 resistance (Fibonacci retracement, horizontal pullback resistance). We can see intermediate resistance at 107.82 (Fibonacci retracement, horizontal swing high resistance) too which we have to be cautious of.
RSI (89) sees our ascending support line add to our bullish bias.

Bitcoin Testing Major Resistance, Time To Sell

Bitcoin is right on major resistance presenting us a good opportunity to enter into this sell trade.

Sell below 8945. Stop loss at 9511. Take profit at 7920.
Reason for the trading strategy (fundamentally):
The big news event surrounding cryptocurrency is that the world’s economic leaders have set a July deadline for the first step towards unified regulation of cryptocurrency. They all agreed that the technology behind crypto assets has the potential to promote financial inclusion, but the impact on financial stability and potential uses in tax evasion and illegal activities needed to be understood first. Overall, this is a good step towards a broader acceptance of cryptocurrency.
Reason for the trading strategy (technically):
Price has risen further and is now testing major resistance at 8945 (Fibonacci retracement, horizontal pullback resistance, Fibonacci extension). We look to sell below this level for a push down to major support at 7920 (Fibonacci retracement, Fibonacci extension).
Stochastic (34,5,3) is seeing major resistance at 92% where a corresponding drop could occur from.

MEX_Exchange · March 22, 2018, 2:32am

Date: March 22, 2018

GBPCHF Is Testing Major Resistance, Time To Sell

GBPCHF is presenting us with a really good selling opportunity.

Sell below 1.3434. Stop loss at 1.3522. Take profit at 1.3145.
Reason for the trading strategy (technically):
Price is testing major resistance at 1.3434 (Fibonacci extension, bearish harmonic formation) and a strong drop could occur from here to push prices all the way down to 1.3145 (Fibonacci retracement, horizontal pullback support). We have our stop loss at 1.3522 (Fibonacci extension, above major swing high resistance) to give our trade some breathing space.
Stochastic (89,5,3) is seeing major resistance below 96% and a corresponding reaction could occur at this level.

NZDUSD Remain Bearish For A Drop

NZDUSD has made a pullback to strong resistance presenting us with a good opportunity to short it.

Sell below 0.7249. Stop loss at 0.7289. Take profit at 0.7154.
Reason for the trading strategy (technically):
Price has risen since yesterday and is now testing major resistance at 0.7249 (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) and a strong reaction could occur at this level to push prices down to next support at 0.7154 (Fibonacci extension, horizontal swing low support).
Stochastic (34,5,3) is seeing major resistance at 94% where a corresponding reaction could occur.

USDJPY Right On Major Support, Potential Bounce

USDJPY is now testing major swing low support and could see a nice bounce from here.

Buy above 105.56. Stop loss at 104.84. Take profit at 107.88.
Reason for the trading strategy (technically):
Price is seeing strong support above 105.56 (Fibonacci extension, horizontal swing low support) and a strong bounce could occur at this level to push prices up to next resistance at 107.88 (Fibonacci retracement, horizontal swing high resistance, Fibonacci extension).
RSI (55) sees an ascending support line hold up prices really well and is providing immediate support for our current idea.

Bitcoin Remain Bearish Awaiting Our Drop

Bitcoin continues to test our resistance level. We remain bearish on this idea.

Sell below 8945. Stop loss at 9511. Take profit at 7920.
Reason for the trading strategy (fundamentally):
The big news surrounding cryptocurrency is Social Media Giant “Snap” confirming that it has banned ads for initial coin offerings (ICOs). This has caused cryptocurrency as a whole to take a big hit, considering that facebook and google have both announced similar measures with news being that twitter is reportedly about to crack down on ads too. This news, coupled with the recent news that Washington State County has decided to stop reviewing applications for mining facilities, has put a wet blanket over the recent recovery in Cryptocurrency.
Reason for the trading strategy (technically):
Price has hovered around our selling area since yesterday. We remain bearish below our major resistance at 8945 (Fibonacci retracement, horizontal pullback resistance, Fibonacci extension). We look to sell below this level for a push down to major support at 7920 (Fibonacci retracement, Fibonacci extension).
Stochastic (89,5,3) is seeing major resistance below 92% and is starting to drop nicely from it signalling that a reversal could be impending.

MEX_Exchange · March 23, 2018, 2:07am

Date: March 23, 2018

AUDUSD approaching major support, prepare for a bounce

AUDUSD is dropping nicely to Fibonacci fractal support, prepare for a big bounce from here.

Buy above 0.7639. Stop loss at 0.7577. Take profit at 0.7779.
Reason for the trading strategy (technically):
Price is approaching our major support at 0.7639 (78.6% Fibonacci retracement, 100% Fibonacci extension, 61.8% Fibonacci extension) and a strong bounce could occur at this level to push prices all the way up to major resistance at 0.7779 (Fibonacci retracement, horizontal overlap resistance).
Stochastic (55,5,3) is seeing major support above 2.9% where a corresponding bounce could occur.

USDCAD has broken major support, prepare for a big drop

USDCAD has broken our ascending support line triggering a bearish move from here.

Sell below 1.2974. Stop loss at 1.3052. Take profit at 1.2731.
Reason for the trading strategy (technically):
Price has broken our ascending support line triggering a bearish exit. We look to sell below major resistance at 1.2974 (Fibonacci retracement, pullback resistance) for a drop towards major support at 1.2731 (Fibonacci retracement, horizontal overlap support).
RSI (55) has made a similar bearish exit and pullback to its ascending support-turned-resistance line signalling that a further drop is likely.

NZDUSD reversed perfectly, remain bearish for a further drop

NZDUSD dropped perfectly from our selling area, we tighten our stop loss to protect our position.

Sell below 0.7249. Stop loss at 0.7268. Take profit at 0.7154.
Reason for the trading strategy (technically):
Price has reversed perfectly from our selling entry and is working its way towards our profit target. We tighten our stop loss to 0.7268 to protect our profits. We are also seeing intermediate support at 0.7194 (61.8% Fibonacci retracement, 61.8% Fibonacci extension) which could see price bounce off there before dropping further to our major support at 0.7154 (major swing low support, Fibonacci extension).
Stochastic (89,5,3) is seeing major resistance below 93% and is reversing nicely below this level with good downside potential.

Bitcoin dropping nicely, remain bearish for a further drop

Bitcoin has dropped from our selling area nicely and sees a lot of bearish momentum.

Sell below 8758. Stop loss at 9211. Take profit at 7920.
Reason for the trading strategy (fundamentally):
The big news event surrounding Bitcoin is Edward Snowden making an announcement that the big structural flaw that is has, the long-lasting flaw, is its public ledger. The reason for this is because he explains that “you cannot have a lifelong history of everyone’s purchases, all of the interactions be available to everyone and have that work out well at scale”. Also, he also expressed his concern that having a public ledger that documents every transaction history could draw interest from governments that wish to outlaw the technology, as seen in how NSA may be using its powerful surveillance technology to track the blockchain ledger and individual bitcoin users. This has caused Bitcoin to drop sharply recently.
Reason for the trading strategy (technically):
Price has dropped nicely from our selling area and is working its way to our profit target. We see major resistance below 8758 (Fibonacci retracement, horizontal overlap resistance, bearish Ichimoku cloud) which we look to sell below for a push down to major support at 7920 (Fibonacci retracement, Fibonacci extension).
RSI (89) sees a descending resistance line add to our bearish bias on this setup.

MEX_Exchange · March 26, 2018, 1:42am

Date: March 26, 2018

AUDUSD Approaching Major Support, Prepare To Buy

AUDUSD is approaching major support which presents us with a good buying opportunity to play the bounce.

Buy above 0.7639. Stop loss at 0.7577. Take profit at 0.7779.
Reason for the trading strategy (technically):
Price is approaching major support at 0.7639 (Fibonacci retracement, Fibonacci extension, horizontal swing low support) and a nice bounce could occur at this level to push prices up to resistance at 0.7779 (Fibonacci retracement, horizontal overlap resistance).
Stochastic (34,5,3) is seeing strong support above 2.9% and is bouncing up nicely with good upside potential.

NZDUSD Approaching Strong Resistance, Time To Sell

NZDUSD is seeing some strong resistance levels above it, presenting us with a good selling opportunity.

Sell below 0.7277. Stop loss at 0.7305. Take profit at 0.7203.
Reason for the trading strategy (technically):
Price is approaching major resistance at 0.7277 (Fibonacci retracement, Fibonacci extension, horizontal swing high resistance) and a strong reaction could occur at this level to push prices down to 0.7203 support (Fibonacci retracement, horizontal swing low support).
Stochastic (89,5,3) is seeing bearish divergence along with major resistance at 93% signalling that a reversal is impending.

EURUSD Testing Major Resistance, Time To Sell

EURUSD is seeing some really strong resistance push prices down, presenting us with a good shorting opportunity.

Sell below 1.2373. Stop loss at 1.2341. Take profit at 1.2295.
Reason for the trading strategy (technically):
Price is testing major resistance at 1.2373 (Fibonacci retracement, Fibonacci extension, descending resistance, swing high resistance) and a strong reaction could occur at this level to push prices down to support at 1.2295 (Fibonacci retracement, horizontal overlap support).
Stochastic (55,5,3) is seeing major resistance at 97% where a corresponding reaction could occur.

Bitcoin Dropping Perfectly, Remain Bearish

Bitcoin continues to drop as expected, we remain bearish for a further drop.

Sell below 8755. Stop loss at 9089. Take profit at 7920.
Reason for the trading strategy (fundamentally):
The big news surrounding Bitcoin is The Office of Foreign Asset Control (OFAC) announcing that it was considering including digital currency addresses associated with its list of persons and entities with whom U.S. persons and businesses are forbidden to transact business. This list of Specially Designated Nationals (SDNs) includes individuals and entities associated with sanctioned governments, terrorism, trafficking in weapons of mass destructions, and illegal drug trafficking. This has spooked the Bitcoin community quite a bit as people worry about being tainted by association and possibly creating lowering the value of ‘dirty’ coins which has passed through one of the listed addresses.
Reason for the trading strategy (technically):
Price has continued to drop further as expected towards our profit target. We remain bearish as we have now seen a strong bearish exit signalling that additional bearish acceleration could be expected. We look to sell below major resistance at 8755 (Fibonacci retracement, horizontal overlap resistance, bearish Ichimoku cloud) for a push down all the way to major support at 7920 (Fibonacci retracement).
RSI (55) is testing major ascending support and only a break of this major ascending support would trigger a big bearish move.

MEX_Exchange · March 27, 2018, 6:47am

Date: March 27, 2018

AUDJPY Has Made A Bullish Exit, Time To Start Buying

AUDJPY has broken key resistance levels triggering a bullish exit from here. Good opportunity to start buying.

Buy above 81.46. Stop loss at 80.94. Take profit at 82.49.
Reason for the trading strategy (technically):
Price has broken out of key descending and horizontal resistance triggering a rally above 81.46 support (Fibonacci retracement, horizontal overlap support, breakout level) to push prices up to at least 82.49 resistance (Fibonacci retracement, horizontal swing high resistance). We have to be cautious about intermediate resistance at 82.09 (Fibonacci retracement, horizontal swing high resistance).
RSI (89) has made a similar bullish exit signalling that we’ll likely see a strong bullish acceleration from here.

CADJPY Approaching Major Resistance, Prepare To Sell

CADJPY is seeing some major resistance above price presenting us with a good opportunity to sell from.

Sell below 82.77. Stop loss at 83.48. Take profit at 81.29.
Reason for the trading strategy (technically):
Price is approaching major resistance at 82.77 (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance, bearish harmonic formation) and a strong reaction could occur from here to push prices down to major support at 81.29 (Fibonacci retracement, horizontal swing low support).
Stochastic (34,5,3) is seeing major resistance below 98% where a corresponding reaction could occur.

GBPCHF Testing Major Resistance, Time To Sell

GBPCHF is testing strong resistance presenting us with a good selling opportunity.

Sell below 1.3466. Stop loss at 1.3527. Take profit at 1.3335.
Reason for the trading strategy (technically):
Price is testing major resistance at 1.3466 (Fibonacci retracement, horizontal swing high resistance, bearish harmonic formation) and a strong reaction could occur from this level to push prices down to major support at 1.3335 (Fibonacci retracement, horizontal swing low support).
Stochastic (34,5,3) is seeing major resistance below 97% and a corresponding reaction could occur from this level.

Bitcoin Dropped Perfectly To Our Profit Target, Remain Bearish

Bitcoin dropped right to our profit target before bouncing perfectly. We remain bearish for a further drop.

Sell below 8324. Stop loss at 8705. Take profit at 7329.
Reason for the trading strategy (fundamentally):
The big news surrounding cryptocurrency is that twitter has decided to ban ads starting today. Twitter is by and large one of the largest platforms for advertising cryptocurrencies including Bitcoin. Such a move, coupled with Google, youtube, facebook and instagram’s ban on cryptocurrency ads, have left advertisers with little alternative when it comes to advertising their cryptocurrency. This has thrown a large wet blanket over the entire cryptocurrency space as it seems more and more major advertising networks would rather do without the huge advertising revenue than to deal with the rampant scams and bad reputation that cryptocurrency ads bring upon themselves.
Reason for the trading strategy (technically):
Price has dropped perfectly to our profit target once again. We prepare to sell below major resistance at 8324 (Fibonacci retracement, horizontal overlap resistance, bearish Ichimoku cloud, Fibonacci extension) for a further drop to at least 7329 support (Fibonacci extension, horizontal swing low support). We have to be cautious of intermediate support at 7847 (Fibonacci retracement, horizontal swing low support) where price might bounce off before dropping further.
RSI (89) sees a descending resistance line hold prices down really well and add to bearish bias.

MEX_Exchange · March 28, 2018, 1:53am

Date: March 28, 2018

AUDNZD Testing Key Support, Prepare For A Bounce

AUDNZD is now testing a major support level which is a good buying opportunity.

Buy above 1.0551. Stop loss at 1.0474. Take profit at 1.0823.
Reason for the trading strategy (technically):
Price is now testing major support at 1.0551 (Fibonacci retracement, horizontal overlap support, Fibonacci extension, bullish harmonic formation) and a strong bounce could occur at this level to push prices up to at least 1.0823 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (34,5,3) is seeing major support above 2.5% where a corresponding bounce could occur.

AUDUSD Approaching Major Support, Watch For The Bounce

AUDUSD is fast approaching a really key support level where we expect a really strong bounce from.

Buy above 0.7639. Stop loss at 0.7577. Take profit at 0.7779.
Reason for the trading strategy (technically):
Price is fast approaching major support at 0.7639 (Fibonacci retracement, horizontal swing low support, Fibonacci extension) and we expect a strong bounce from this level to push prices up to major resistance at 0.7779 (Fibonacci retracement, horizontal overlap resistance).
Stochastic (55,5,3) is seeing strong support above 2.9% where a corresponding bounce could occur.

NZDUSD Has Broken Major Support, Remain Bearish For A Further Drop

NZDUSD is seeing a bearish acceleration after breaking key ascending support.

Sell below 0.7282. Stop loss at 0.7305. Take profit at 0.7230.
Reason for the trading strategy (technically):
Price has reversed nicely and has made a bearish exit from our ascending support-turned-resistance line. We look to sell below major resistance at 0.7282 (Fibonacci retracement, horizontal overlap resistance) for a push down to major support at 0.7230 (Fibonacci retracement, horizontal swing low support).
RSI (34) sees that we have made a recent bearish exit from our ascending support-turned-resistance level signalling that we could expect more bearish momentum.

Bitcoin Dropped Perfectly To Our Support, Remain Bearish For A Further Drop

Bitcoin is dropping beautifully as expected and we expect further bearish momentum.

Sell below 8027. Stop loss at 8295. Take profit at 7329.
Reason for the trading strategy (fundamentally):
The big news surrounding cryptocurrency is that the European Securities and Markets Authority (ESMA) has toughened its stance on cryptocurrency derivative contracts, lowering the leverage limit for cryptocurrency-related “Contract for difference” (CFD) products to 2:1. This has shook up the industry quite a bit with this new leverage limiting the amount of cryptocurrency that can be easily traded on margin by a retail trader, hence, affecting the overall attractiveness of trading cryptocurrency.
Reason for the trading strategy (technically):
Price has dropped perfectly to our first support target as expected. We now expect further bearishness as we look to sell below major resistance at 0.8027 (Fibonacci retracement, horizontal overlap resistance, bearish Ichimoku cloud, descending channel momentum) for a further push down to major support at 7329 (Fibonacci extension, horizontal swing low support).
RSI (89) has made a bearish exit and also sees strong descending resistance holding its momentum down really well.

MEX_Exchange · March 29, 2018, 3:17am

Date: March 29, 2018

AUDNZD Right On Major Resistance, Time To Sell

AUDNZD is at a good selling opportunity.

Sell below 1.0635. Stop loss at 1.0656. Take profit at 1.0562.
Reason for the trading strategy (technically):
Price is now testing major resistance at 1.0635 (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) and a strong reaction could occur at this level to push prices down to major support at 1.0595 (Fibonacci retracement, horizontal swing low support). We do have to be cautious of intermediate support at 1.0595 (Fibonacci retracement, horizontal overlap support) as price might bounce off there and only a break of that support would open a further drop.
Stochastic (34,5,3) is seeing strong resistance below 95% where a corresponding reaction could occur.

CADJPY Testing Key Resistance, Time To Sell

CADJPY is right on major resistance presenting us with a good selling opportunity.

Sell below 82.77. Stop loss at 83.48. Take profit at 81.29.
Reason for the trading strategy (technically):
Price is testing major resistance at 82.77 (Fibonacci retracement, horizontal overlap resistance, fiboancci extension, bearish harmonic formation) and a strong reaction could occur at this level to push prices down to major support at 81.29 (Fibonacci retracement, horizontal swing low support).
Stochastic (34,5,3) is seeing major resistance below 98% where a corresponding reaction could occur.

EURAUD Testing Strong Ascending Support, Prepare For A Bounce

EURAUD is bouncing nicely off major support presenting us with a good buying opportunity.

Buy above 1.6058. Stop loss at 1.6020. Take profit at 1.6185.
Reason for the trading strategy (technically):
Price is testing major support at 1.6058 (Fibonacci retracement, Fibonacci extension, horizontal overlap support, ascending support) and a strong bounce could occur at this level pushing prices all the way up to major resistance at 1.6185 (Fibonacci extension, horizontal swing high resistance).
Stochastic (21,5,3) is seeing a nice bounce above major support at 6.8% with good further upside potential.

Bitcoin Has Broken Major Resistance, Time To Buy

Bitcoin is seeing a strong change in momentum to bullish after breaking our major resistances.

Buy above 7774. Stop loss at 7536. Take profit at 8265.
Reason for the trading strategy (fundamentally):
The big news surrounding cryptocurrency is that the biggest bank in Denmark, Danske Bank, has released a report criticising cryptocurrencies over perceived risks and lack of transparency. It cites that it does not come with central bank backing, has high volatility and a lack of pricing transparency and lack of regulatory oversight making it a target for criminals. It has then decided to strongly recommend customers to avoid investing in cryptocurrencies and has also phased out the option of buying financial instruments that are linked to the price of cryptocurrencies.
Reason for the trading strategy (technically):
Price has broken our major descending resistance line and has crossed above our Ichimoku cloud signalling that we’re about to see an intermediate correction on Bitcoin. We look to buy above major support at 7774 (Fibonacci retracement, horizontal overlap support, Fibonacci extension) for a bounce towards 8265 resistance (Fibonacci retracement, horizontal overlap resistance, Fibonacci extension).
RSI (55) has also made a bullish exit and sees a short term ascending support line hold it up really nicely.

MEX_Exchange · April 2, 2018, 3:05am

Date: April 2, 2018

AUDUSD Bouncing Perfectly As Expected, Remain Bullish

AUDUSD has touched our buying entry and bounced up perfectly. We remain bullish on this trade.

Buy above 0.7639. Stop loss at 0.7577. Take profit at 0.7779.
Reason for the trading strategy (technically):
Price has touched our strong buying level support at 0.7639 (78.6% Fibonacci retracement, 100% Fibonacci extension, 61.8% Fibonacci extension, bullish divergence) and has made a strong bounce perfectly as expected. We expect prices to continue to push up to our next major resistance at 0.7779 (Fibonacci retracement, horizontal overlap resistance).
Stochastic (55,5,3) is seeing major support above 2.9% where we’re seeing a nice bounce from. We can also see bullish divergence vs price signalling that a bullish reversal is impending.

CADJPY Dropping Nicely, Remain Bearish

CADJPY has dropped from our selling area perfectly. We remain bearish expecting further downside pressure.

Sell below 82.77. Stop loss at 83.48. Take profit at 81.29.
Reason for the trading strategy (technically):
Price has reversed perfectly from our selling area and is dropping nicely towards our profit target. We remain bearish below major resistance at 82.77 (Fibonacci retracement, Fibonacci extension, bearish harmonic formation, horizontal pullback resistance) for a further drop to major support at 81.29 (Fibonacci retracement, horizontal swing low support). We do have to cautious about intermediate support at 82.08 (Fibonacci retracement, horizontal overlap support) which price might bounce off before dropping further. We can also see a bullish ascending support line which needs to be broken to give us further downside confirmation.
Stochastic (89,5,3) is seeing a nice drop after breaking its ascending support line with good downside potential.

USDCHF Approaching Major Support, Prepare For A Bounce

USDCHF is approaching major support and we can expect a bounce soon.

Buy above 0.9499. Stop loss at 0.9459. Take profit at 0.9582.
Reason for the trading strategy (technically):
Price is approaching our major support area of 0.9500 (Fibonacci retracement, Fibonacci extension, horizontal overlap support, Elliott wave structure) where we expect a bounce from to push prices all the way up to major resistance at 0.9582 (Fibonacci extension, horizontal swing high resistance, Elliott wave structure). We can already start scaling into our position when price is at the 0.9510 level.
Stochastic (89,5,3) is seeing strong support above 2.8% and we expect prices to bounce up when it’s around that level.

Bitcoin Potential Bullish Breakout, Keep An Eye On This Setup

Bitcoin potentially breaking out of our long term descending channel. Watch for the breakout confirmation.

Buy above 7224. Stop loss at 6687. Take profit at 8257.
Reason for the trading strategy (fundamentally):
The big news event surrounding cryptocurrency is the National Bank of Kazakhstan announcing that it wants to ban cryptocurrency trading and mining in the European nation, citing that they believe cryptocurrencies are “an ideal instrument for money laundering and tax evasion”. This is the latest blow to cryptocurrency as it can’t seem to shake off the bad stigma of it being used for money laundering and tax evasion.
Reason for the trading strategy (technically):
Price is testing our descending channel and we look to buy above major resistance at 7224 (Fibonacci retracement, horizontal overlap resistance, channel breakout, bullish divergence). It’s important to see that price not only breaks out of our bearish channel, but also to break above our major resistance at 7224 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. We can also see bullish divergence vs price signalling that a bullish reversal is impending.

MEX_Exchange · April 3, 2018, 5:19am

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.

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.

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.

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.

MEX_Exchange · April 4, 2018, 2:33am

Date: April 4, 2018

USDCAD Approaching Support, Prepare For A Bounce

**USDCAD is approaching its support area, we can expect a bounce soon. **

Buy above 1.2744. Stop loss at 1.2603. Take profit at 1.3122.
Reason for the trading strategy (technically):
Price is approaching its buying level support at 1.2744 (38.2% Fibonacci retracement, 50% Fibonacci retracement, 61.8% Fibonacci extension) where we expect a bounce from to push prices all the way up to major resistance at 1.3122 horizontal swing high resistance). We do have to be cautious about intermediate resistance at 1.2939 (50% Fibonacci retracement).
Stochastic (55, 5, 3) is seeing a nice support at 1.76% where we expect prices to bounce when it’s around that level.

AUDUSD Approaching Resistance, Lookout For a Reversal

**AUDUSD is approaching its major resistance, we can expect a reversal. **

Sell below 0.7712. Stop loss at 0.7754. Take profit at 0.7642.
Reason for the trading strategy (technically):
Price is approaching its major resistance at 0.7712 (61.8% Fibonacci extension, 100% Fibonacci extension, 100% Fibonacci extension, 50% Fibonacci retracement, 61.8% Fibonacci retracement, horizontal overlap resistance) where we expect a reversal, pushing price down to its support at 0.7642 (61.8% Fibonacci extension, horizontal swing low support).
Stochastic (89, 5, 3) sees resistance at 96% where we expect a corresponding reversal. A bearish divergence with price has also been identified which adds to our bearish bias.

NZD Testing Strong Descending Resistance Line
**NZDUSD is approaching its major resistance and long term descending resistance line. We can expect a reversal. **

Sell below 0.7276. Stop loss at 0.7302. Take profit at 0.7201.
Reason for the trading strategy (technically):
Price is approaching major resistance at 0.7276 (61.8% Fibonacci extension, 76.4% Fibonacci retracement, horizontal overlap resistance) where we expect a reaction, causing price to push all the way down to its support at 0.72011 (61.8% Fibonacci extension, horizontal swing low support). We have to be cautious of the intermediate support at 0.7243 (38.2% Fibonacci retracement, horizontal overlap support).
Stochastic (55, 5, 3) is approaching its resistance at 97% where we expect a corresponding reaction.

Bitcoin has made a Bullish Exit From Descending Channel

**Bitcoin has made a bullish exit from its descending channel and has surpassed its major resistance. **

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 its major resistance at 7247 (78.6% Fibonacci retracement, horizontal overlap resistance, channel breakout). Together with the double bottom reversal identified, it has added to our confirmation of a 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. A bullish channel has also been identified.

MEX_Exchange · April 5, 2018, 5:25am

Date: April 5, 2018

GBPJPY Testing Resistance, Prepare for a Reversal

GBPJPY is testing its resistance, good selling opportunity.

Sell below 150.600. Stop loss at 150.927. Take profit at 149.681
Reason for the trading strategy (technically):
Price is testing its resistance at 150.600 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance) where we expect a reversal, pushing price down to its support at 149.681 (61.8% Fibonacci extension, 61.8% Fibonacci extension, 50% Fibonacci retracement, 38.2% Fibonacci retracement, horizontal overlap support).
Stochastic (89, 5, 3) is at resistance at 97.8% where we expect to see a corresponding reaction.

AUDJPY Approaching Resistance, Lookout For a Reversal

**AUDJPY is approaching its major resistance, presenting us with a good selling opportunity. **

Sell below 82.504. Stop loss at 82.996. Take profit at 81.479.
Reason for the trading strategy (technically):
Price is approaching its major resistance at 82.504(100% Fibonacci extension, 61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap resistance) where we expect a reversal, pushing price down to its support at 81.479 (61.8% Fibonacci retracement, horizontal swing low support).
Stochastic (89, 5, 3) sees resistance at 98% where we expect a corresponding reversal.

CADJPY Approaching Resistance, Lookout For a Reversal

**CADJPY is approaching its resistance, we can expect a reversal. **

Sell below 83.834. Stop loss at 84.422. Take profit at 82.712.
Reason for the trading strategy (technically):
Price is approaching its major resistance at 83.829 (100% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap resistance) where we expect a reversal, pushing price down to its support at 82.712 (50% Fibonacci retracement, 38.2% Fibonacci retracement, horizontal overlap support).
Stochastic (55, 5, 3) is at resistance at 97.9% where we expect to see a reversal.

Bitcoin Being Held Down By Descending Line

**Bitcoin is being held down by its descending resistance line, expect to drop further. **

Sell below 7252.2. Stop loss at 7545.6. Take profit at 6044.5.
Reason for the trading strategy (fundamentally):
On Tuesday, a member of the Federal Reserve’s board of governors called bitcoin and other cryptocurrencies out for their “extreme volatility” but made it clear that the new asset class does not pose a threat to the stability of the US economy. Lael Brainard however did caution individual investors to be aware of the possible pitfalls of these investments and the potential for losses. She also highlighted that the cryptocurrency markets may raise important investor and consumer protection issues, and some appear especially vulnerable to money-laundering. She did also argue that cryptocurrencies are unlikely to pose a threat to the financial stability given that the assets are not commonly used in payments and there is little evidence that investors have borrowed large amounts of money to invest in them.
Reason for the trading strategy (technically):
Price reacted off its descending resistance line and we look to sell at 6445.2 (61.8% Fibonacci extension, horizontal swing low). We expect prices to push down all the way down to its next support at 5835.5 (61.8% Fibonacci extension, horizontal swing low support).
RSI (89) is being held down by a corresponding descending resistance line which contributes to our bearish bias.

MEX_Exchange · April 6, 2018, 2:32am

Date: April 6, 2018

EURAUD Being Held Down By Descending Resistance, Remain Bearish
**EURAUD is being held down by its descending resistance line, we expect it to drop further. **

Sell below 1.5992. Stop loss at 1.6047. Take profit at 1.5878.
Reason for the trading strategy (technically):
Price has been testing its descending resistance line where we look to sell below 1.5992 (50% Fibonacci retracement). This could push price down to its support level at 1.5878 (100% Fibonacci extension, horizontal swing low support). We do however need to be cautious of the intermediate support at 1.5905 (50% Fibonacci retracement, multiple swing low support).
Stochastic (89, 5, 3) is being held down by a corresponding descending resistance line which contributes to our bearish bias.

CADCHF Reacted Nicely Off Its Resistance, Further Drop Expected
CADCHF reversed nicely off its resistance, we expect to see it drop further.

Sell below 0.7558. Stop loss at 0.7590. Take profit at 0.7465.
Reason for the trading strategy (technically):
Price reacted off its resistance at 0.7558 (100% Fibonacci extension, horizontal swing high) where we expect to see price push all the way down to its major support at 0.7465 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal swing low support). We do have to be cautious of the intermediate support at 0.7500 (100% Fibonacci extension, 100% Fibonacci extension, 50% Fibonacci retracement).
Stochastic (89, 5, 3) has reacted off its resistance at 98.4% where we expect a corresponding drop.

USDCAD Approaching Support, Prepare For A Bounce.
**USDCAD is approaching its major support, we can expect to see a bounce. **

Buy above 1.2711. Stop loss at 1.2636. Take profit at 1.2936.
Reason for the trading strategy (technically):
USDCAD is approaching its support at 1.2711 (61.8% Fibonacci extension, 61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support) where we expect a bounce, pushing price all the way up to its resistance at 1.2936 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap resistance). We do however have to take note of the intermediate resistance at 1.2830 (61.8% Fibonacci extension, 23.6% Fibonacci retracement, horizontal overlap resistance).
Stochastic (89, 5, 3) is approaching its support at 5.7% where we expect to see a bounce. A bullish divergence with price has also been identified which contributes to our bullish bias.

Bitcoin Being Held Down By Descending Resistance Line, Remain Bearish
**BTCUSD is being held down by its descending resistance line, we expect to see a further drop. **

Sell below 6914. Stop loss 7277. Take profit 5835.
Reason for the trading strategy (fundamentally):

Reason for the trading strategy (technically):
Price is being held down by its descending resistance line where we look to sell below its resistance at 6914 (38.2% Fibonacci retracement). We expect price to push down all the way to its support at 5835 (61.8% Fibonacci extension, horizontal swing low support). We do need to be cautious about the intermediate support at 6422 (61.8% Fibonacci extension, horizontal swing low).
RSI (89) is being held down by the same descending resistance line which contributes to our bearish bias.

MEX_Exchange · April 9, 2018, 4:35am

Date: April 9, 2018

AUDJPY Bounced Nicely Off Its Support, Remain Bullish
**AUDJPY bounced nicely off its support where we expect to see a further rise in price. **

Buy above 81.975. Stop loss at 81.670. Take profit at 82.590.
Reason for the trading strategy (technically):
Price bounced off its support at 81.975 (50% Fibonacci retracement, 38.2% Fibonacci retracement) where we expect to see a further rise to its next resistance at 82.590 (50% Fibonacci retracement, multiple swing high resistance).

Stochastic (34, 5, 3) made a corresponding bounce off its support at 5.7% where it still has a lot of upside potential.

USDCAD Approaching Its Support, Prepare For A Bounce
**USDCAD approaching its major support, we expect to see a bounce. **

Buy above 1.2735. Stop loss at 1.2681. Take profit at 1.2938.
Reason for the trading strategy (technically):
Price bounced nicely off its major support at 1.2735 (61.8% Fibonacci extension, 61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support) where we see it rising to its resistance at 1.2938 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal swing high resistance). We do have to be cautious of the intermediate resistance at 1.2836 (100% Fibonacci extension, 23.6% Fibonacci retracement, horizontal overlap resistance).

Stochastic (89, 5, 3) made a corresponding bounce off its support at 3.8%. We have also identified a bullish divergence with price which contributes to our bullish bias.

CADJPY Approaching Its Support, Prepare For A Bounce
**CADJPY approaching its major support, we expect to see a bounce. **

Buy above 83.468. Stop loss at 82.646. Take profit at 84.764.
Reason for the trading strategy (technically):
CADJPY is approaching its support at 83.468 (100% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap support) where we expect to see a bounce, pushing price all the way up to its resistance at 84.764 (38.2% Fibonacci retracement). We do have to be cautious of the intermediate resistance at 84.277 (100% Fibonacci extension, horizontal swing high resistance).
Stochastic (34, 5, 3) is approaching its support at 4.9% where we expect to see a corresponding bounce.

Bitcoin Broke Out of Its Descending Resistance Line
**BTCUSD broke out of its descending resistance-turned-support line, we expect it to rise further. **

Buy above 6893. Stop loss 6510. Take profit 7708.

Reason for the trading strategy (technically):
Price broke out of its descending resistance-turned-support line where we see it rising to its resistance at 7708 (50% Fibonacci retracement, 23.6% Fibonacci retracement, horizontal overlap resistance). We do have to be cautious of the intermediate resistance identified at 7479 (38.2% Fibonacci retracement, horizontal overlap resistance).

RSI (89) shows a corresponding bullish breakout from its descending resistance line which contributes to our bullish bias.

MEX_Exchange · April 11, 2018, 2:37am

Date: April 11, 2018

EURAUD Approaching Support, Prepare For A Bounce
**EURAUD is approaching its support area where we expect a bounce to happen. **

Buy above 1.5879. Stop loss at 1.5839. Take profit at 1.5976.
Reason for the trading strategy (technically):
EURAUD is approaching its support area at 1.5879 (61.8% Fibonacci extension, 100% Fibonacci extension, horizontal swing low support) where we expect to see a bounce, pushing price up all the way to its resistance at 1.5976 (50% Fibonacci retracement, horizontal overlap resistance).
Stochastic (55, 5, 3) is approaching its support at 5.49% where we expect to see a corresponding bounce. A bullish divergence with price has also been identified which contributes to our bullish bias.

CADJPY Testing Resistance, Prepare For A Drop
**CADJPY is approaching its resistance where we expect to see a reversal. **

Sell Below 85.25. Stop loss at 86.06. Take profit at 83.51.
Reason for the trading strategy (technically):
CADJPY is approaching its major resistance at 85.25 (100% Fibonacci extension, 61.8% Fibonacci extension, 61.8% Fibonacci retracement, 50% Fibonacci retracement, horizontal swing high resistance) where we expect to see a reversal, causing price to push down to its support at 83.51 (38.2% Fibonacci retracement, 50% Fibonacci retracement, Horizontal pullback support).
Stochastic (89, 5, 3) is approaching its resistance at 97% where we expect to see a reversal. We have also identified a bearish divergence with price which contributes to our bearish bias.

USDCAD Approaching Support, Prepare For A Bounce
**USDCAD is approaching its support area where we expect a bounce to happen. **

Buy above 1.2561. Stop loss at 1.2458. Take profit at 1.2726.
Reason for the trading strategy (technically):
USDCAD is approaching its support area at 1.2561 (100% Fibonacci extension, 61.8% Fibonacci retracement, 78.6% Fibonacci extension, horizontal overlap support) where we expect to see a bounce, pushing price up to its resistance at 1.2726 (100% Fibonacci extension, 38.2% Fibonacci retracement, 23.6% Fibonacci retracement, horizontal overlap resistance).
Stochastic (89, 5, 3) is approaching its support at 0.9% where we expect to see a corresponding bounce.

Bitcoin Testing Its Resistance, Prepare For A Reversal
**BTCUSD is testing its support turned resistance line where we expect to see a reversal. **

Sell below 6907. Stop loss at 7196. Take profit at 6426.
Reason for the trading strategy (fundamentally):
The Finance Ministry of Poland has recently published its official position on the taxation of cryptocurrency incomes and profits. A decision by the Polish government to tax crypto transactions, even those that do not return profit, has provoked discontent among traders in the country. Taxes on crypto-related income in Poland can reach 32%. Each purchase and sale will be taxed as a transfer of property rights, regardless of the end result for the parties. Government parties across the world have started to enforce strict regulations that effectively restrict the access to the growing cryptocurrency market and thus perhaps restricting the growth to that market.
Reason for the trading strategy (technically):
We see price testing its support turned resistance at 6907 (50% Fibonacci retracement, horizontal overlap resistance) where we expect to see it drop to its support at 6426 (61.8% Fibonacci extension, horizontal swing low support). We do have to be cautious of the intermediate support at 6523 (61.8% Fibonacci extension, horizontal swing low support)
Stochastic (21, 5, 3) is approaching its resistance at 90% where we expect to see a corresponding reversal.

MEX_Exchange · April 12, 2018, 2:19am

Date: April 12, 2018

USDJPY Bounced Nicely Off Its Support, Prepare For A Further Rise
**USDJPY bounced nicely off its support where we expect to see a further rise. **

Buy above 106.64. Stop loss at 106.13. Take profit at 107.50.
Reason for the trading strategy (technically):
USDJPY tested its support and bounced off it at 106.64 (61.8% Fibonacci extension, 50% Fibonacci retracement, 60% Fibonacci retracement, horizontal overlap support) where we expect it to rise to its resistance at 107.50 (61.8% Fibonacci extension, horizontal swing high resistance).
Stochastic (21, 5, 3) made a corresponding bounce off its support where we expect to see it rise.

CADCHF Testing Resistance, Prepare For A Drop
**CADJPY is approaching its resistance where we expect to see a reversal. **

Sell Below 0.7619. Stop loss at 0.7682. Take profit at 0.7487.
Reason for the trading strategy (technically):
CADCHF is approaching its resistance at 0.7619 (horizontal overlap resistance) where we expect to see a reversal, causing price to push down to its support at 0.7487 (38.2% Fibonacci retracement x2 swing low support). We do have to be cautious of the intermediate support at 0.7556 (50% Fibonacci retracement).
Stochastic (55, 5, 3) is approaching its resistance at 97% where we expect to see a reversal. We have also identified a bearish divergence with price which contributes to our bearish bias.

EURCBP Broke Out of Its Descending Line.
**EURGBP broke out of its descending resistance-turned-support line. We expect to see a further rise. **

Buy above 0.8694. Stop loss at 0.8661. Take profit at 0.8782.
Reason for the trading strategy (technically):
EURGBP broke out of its descending resistance-turned-support line where we look to buy on weakness at 0.8694 (multiple swing low support). We expect prices to push up all the way to its resistance at 0.8782 (38.2% Fibonacci retracement, horizontal swing high resistance).
RSI (89) has a corresponding breakout from its descending line which contributes to our bullish bias.

Bitcoin Testing Its Resistance, Prepare For A Reversal
**BTCUSD is testing its support turned resistance line where we expect to see a reversal. **

Sell below 6938. Stop loss at 7189. Take profit at 6426.
Reason for the trading strategy (fundamentally):
Unfortunately, as with any industry, scams of all shapes and sizes persist within the cryptocurrency sector. This past week has seen a Filipino couple arrested after amassing over $17 million USD through a bitcoin investment scam, and protests held outside the office of a Vietnamese company that swindled $660 through two multi-level marketing (MLM) initial coin offerings (ICOs). It appears that cryptocurrency scams are still being peddled via analog communications – with phone and snail mail-based scams being reported this week also. This, in addition to the growing enforcement of regulations by governments across the world, could heavily deter investors from entering the cryptocurrency market, causing demand to rapidly dwindle.
Reason for the trading strategy (technically):
We see price testing its support turned resistance at 6938 (50% Fibonacci retracement, horizontal overlap resistance) where we expect to see it drop to its support at 6426 (61.8% Fibonacci extension, horizontal swing low support). We do have to be cautious of the intermediate support at 6523 (61.8% Fibonacci extension, horizontal swing low support)
Stochastic (21, 5, 3) has a lot of downside potential.