☆ Daily Technical Analysis by MEX Exchange ☆

MEX_Exchange · April 16, 2018, 2:35am

Date: April 16, 2018

GBPUSD Reversed Nicely Off Its Resistance, Prepare For a Further Drop
**GBPUSD tested its major resistance where we expect to see a further drop. **

Sell below 1.4297. Stop loss at 1.4351. Take profit at 1.4123.
Reason for the trading strategy (technically):
GBPUSD tested its resistance area at 1.4297 (76.4% Fibonacci retracement, 61.8% Fibonacci extension, horizontal swing high resistance), where it reversed nicely off it. We expect to see price drop further to its support at 1.4123 (61.8% Fibonacci extension, 50% Fibonacci retracement).
Stochastic (55, 5, 3) reversed nicely off its resistance at 98%. A bearish divergence with price has also been identified which contributes to our bearish bias.

NZDUSD Bounced from Its Support, Prepare For a Further Rise
**NZDUSD bounced nicely off its support, we expect to see it rise further. **

Buy above 0.7347. Stop loss at 0.7319. Take profit at 0.7394.
Reason for the trading strategy (technically):
NZDUSD bounced nicely off its support at 0.7347 (61.8% Fibonacci extension, 23.6% Fibonacci retracement, horizontal overlap support) where we expect to see it rise further to its resistance at 0.7394 (horizontal swing high resistance).
Stochastic (34, 5, 3) bounced off its support at 4.2% where we expect to see a corresponding rise.

**CADCHF is Approaching Its Resistance, Prepare For A Drop **
**CADCHF is approaching its resistance, we expect to see a drop. **

Sell below 0.7652. Stop loss at 0.7685. Take profit at 0.7558.
Reason for the trading strategy (technically):
CADCHF is approaching resistance at 0.7652 (61.8% Fibonacci retracement, horizontal overlap resistance) where we expect to see a reaction, causing price to fall to its support at 0.7558 (61.8% Fibonacci extension, 23.6% Fibonacci retracement).
Stochastic (89, 5, 3) is also reaching its resistance at 98% where we expect to see a corresponding reaction. A bearish divergence with price has also been identified which contributes to our bearish divergence.

Bitcoin Testing Its Descending Resistance Line
**BTCUSD is testing its descending resistance line where we expect to see a reversal. **

Sell below 8360. Stop loss at 9103. Take profit at 6426.
Reason for the trading strategy (fundamentally):
The Bermuda Monetary Authority has issued a consultation paper on draft regulations pertaining to “virtual currency businesses” and initial coin offerings (ICOs). The proposed bill seeks to create a framework that encourages and fosters the development of Bermuda’s nascent cryptocurrency industry. The Crypto sector to be encouraged despite this virtual currency not being recognized as a legal tender. In the consultation paper, it defines “virtual currency [as] a digital representation of value that can be digitally traded,” adding that “such does not have legal tender status […] in any jurisdiction,” however, fulfils monetary “functions only by agreement within the community of users of the virtual currency.” While regulations around the rest of the world become tighter, some countries have decided to take a different approach in boosting investor’s confidence in regards to cryptocurrencies.
Reason for the trading strategy (technically):
We see price testing its resistance at 8360 (100% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap resistance) where we expect price to react off its, causing it to fall to its support at 6426 (horizontal swing low support). We do have to be cautious of the intermediate support at 7518 (horizontal pullback support).
Stochastic (34, 5, 3) is approaching its resistance at 94% where we expect to see a corresponding reaction. We have also identified a bearish divergence with price which contributes to our bearish bias.

MEX_Exchange · April 17, 2018, 2:38am

Date: April 17, 2018

USDJPY Broke Out Of Its Ascending Support, Remain Bearish
**USDJPY made a bearish breakout of its ascending support line where we expect to see a further drop. **

Sell below107.142. Stop loss at 107.341. Take profit at 106.649.
Reason for the trading strategy (technically):
USDJPY broke out of its ascending support where we look to sell on strength at 107.142. We expect prices to push down all the way to its support at 106.649 (38.2% Fibonacci retracement, horizontal overlap support).
RSI (55) shows a corresponding break out where we expect to see a similar drop.

GBPJPY Approaching Resistance, Prepare For a Reversal
GBPJPY is approaching its resistance where we expect to see a reversal.

Sell below 153.90. Stop loss at 154.57. Take profit at 152.13.
Reason for the trading strategy (technically):
GBPJPY is approaching its resistance at 153.90 (76.4% Fibonacci retracement, multiple swing high resistance) where we expect prices to fall to its support at 152.13 (23.6% Fibonacci retracement, horizontal overlap support).
Stochastic (89, 5, 3) is approaching its resistance at 98% where we expect to see a similar reversal.

**EURUSD Is Approaching Its Resistance, Prepare For A Drop **
**EURUSD is approaching its resistance, we expect to see a drop. **

Sell below 1.2421. Stop loss at 1.2453. Take profit at 1.2345.
Reason for the trading strategy (technically):
Price is approaching its resistance at 1.2421 (78.6% Fibonacci retracement, horizontal swing high resistance) where we expect price to reverse, pushing it all the way down to its support at 1.2345 (horizontal overlap support). We do have to be cautious of the intermediate resistance at 1.2387 (horizontal overlap resistance) where price could react off it and fall to the support from there.
Stochastic (55, 5, 3) is approaching its resistance at 95% where we expect a corresponding reaction.

Bitcoin Testing Its Resistance, Prepare For a Drop
**BTCUSD is testing its resistance where we expect to see a reversal. **

Sell below 8360. Stop loss at 9103. Take profit at 6426.
Reason for the trading strategy (fundamentally):
China’s cryptocurrency markets have witnessed a number of significant events in recent weeks, including affirmation from the People Bank of China (PBOC)’s new governor, Yi Gang, which will likely intensify the country’s crackdown on cryptocurrency. Yi Gang described cryptocurrencies as offering little to contribute to China’s economy at large, defending the government’s cautious stance with regards to virtual currencies. “In general, PBOC is maintaining tight supervision among virtual currency, in the meantime, the central bank is also exploring a better way for digital currency to play a more active role in service to the real economy,” Yi Gang said. With one of the world’s largest economy on tight supervision, this could cause the demand for cryptocurrency market to shrink.
Reason for the trading strategy (technically):
We see price testing its resistance at 8360 (100% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap resistance) where we expect price to react off its, causing it to fall to its support at 6426 (horizontal swing low support). We do have to be cautious of the intermediate support at 7518 (horizontal pullback support).
Stochastic (55, 5, 3) is approaching its resistance at 94% where we expect to see a corresponding reaction. We have also identified a bearish divergence with price which contributes to our bearish bias.

MEX_Exchange · April 18, 2018, 2:19am

Date: April 18, 2018

AUDJPY Broke Out Of Its Ascending Support, Remain Bearish
**AUDJPY made a bearish breakout of its ascending support line where we expect to see a further drop. **

Sell below 83.311. Stop loss at 83.659. Take profit at 82.652.
Reason for the trading strategy (technically):
AUDJPY broke out of its ascending support where we look to sell on strength at 83.311 (23.6% Fibonacci retracement, horizontal overlap resistance). We expect prices to push down all the way to its support at 82.652.
RSI (89) shows a corresponding break out where we expect to see a similar drop.

AUDUSD Made A Bullish Exit From Its Descending Resistance Line, Remain Bullish
**AUDUSD broke out of its descending resistance line, we expect to see a further rise. **

Buy above 0.7746. Stop loss at 0.7708. Take profit at 0.7845.
Reason for the trading strategy (technically):
AUDUSD broke out of its descending resistance line where we look to buy on weakness at 0.7746 (38.2% Fibonacci retracement, horizontal overlap support) where we expect prices to rise to its resistance at 0.7845 (76.4% Fibonacci retracement, 100% Fibonacci extension).
RSI (89) shows a corresponding break out where we expect to see a similar drop.

USDCHF In A Bullish Channel, Remain Bullish
**USDCHF is hovering in its bullish channel where we look to buy on weakness as we remain bullish. **

Buy above 0.9608. Stop loss at 0.9570. Take profit at 0.9712.
Reason for the trading strategy (technically):
USDCHF is being held in its bullish channel where we look to buy on weakness at 0.9608 (61.8% Fibonacci extension, 50% Fibonacci retracement) where we expect prices to rise to its resistance at 0.7124 (61.8% Fibonacci retracement, horizontal overlap resistance).
RSI (55) is being held up be a corresponding ascending support line which contributes to our bullish bias.

Bitcoin Testing Its Resistance, Prepare For a Drop
**BTCUSD is testing its resistance where we expect to see a reversal. **

Sell below 8349. Stop loss at 9103. Take profit at 6420.
Reason for the trading strategy (fundamentally):
IMF chief Christine Lagarde has dedicated her latest two blog posts on the official IMF website to cryptocurrencies. In her latest post, she outlines multiple benefits of crypto and envisages a large-scale shift away from government-issued currencies towards cryptocurrencies. Citing that she previously “looked at the dark side of crypto-assets, including their potential use for money laundering and the financing of terrorism,” Lagarde proceeded to say: Here, I want to examine the promise they [cryptocurrencies] offer. A judicious look at crypto-assets should lead us to neither crypto-condemnation nor crypto-euphoria. Amidst the tight regulations by government officials around the world, this message by IMF chief could build investor’s confidence in the cryptocurrency market again.
Reason for the trading strategy (technically):
We see price testing its resistance at 8349 (100% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap resistance) where we expect price to react off its, causing it to fall to its support at 6420 (horizontal swing low support). We do have to be cautious of the intermediate support at 7518 (horizontal pullback support).
Stochastic (89, 5, 3) has a lot of downside potential where we expect to see a corresponding move down.

MEX_Exchange · April 19, 2018, 2:43am

Date: April 19, 2018

NZDUSD IS Approaching Its Support, Prepare For A Bounce
**NZDUSD is approaching its support where we expect to see a bounce. **

Buy above 0.7302. Stop loss at 0.7274. Take profit at 0.7395.
Reason for the trading strategy (technically):
NZDUSD is approaching its support at 0.7302 (100% Fibonacci extension x2, 61.8% Fibonacci retracement, 38.2% Fibonacci retracement) where we expect to see a bounce, causing price to rise to its resistance at 0.7395 (61.8% Fibonacci extension, horizontal swing high resistance). However, we do need to be cautious about the intermediate resistance at 0.7338 (38.2% Fibonacci retracement, horizontal overlap resistance).
Stochastic (89, 5, 3) is approaching its support at 2.66% where we expect to see a corresponding reaction.

USDJPY Is Being Held Up By Ascending Support Line, Remain Bullish
**USDJPY is being held up by its ascending support line where we expect prices to rise further. **

Buy above 107.367. Stop loss at 107.134. Take profit at 107.764.
Reason for the trading strategy (technically):
USDJPY tested its ascending support line where it is rising strongly. We look to buy on weakness at 107.367 (horizontal overlap support) where we expect prises to rise to its resistance at 107.764 (61.8% Fibonacci extension, horizontal swing high resistance).
Stochastic (89, 5, 3) bounced off its intermediate resistance at 20.5% where it still has a lot of upside potential.

USDCAD Broke Out of Its Descending Resistance, Remain Bullish
**USDCAD broke out of its descending resistance line where we expect to see a further rise. **

Buy above 1.2627. Stop loss at 1.2527. Take profit at 1.2829.
Reason for the trading strategy (technically):
Price is testing its support at 1.2627 (76.4% Fibonacci retracement, horizontal overlap support) where we expect it to rise to its resistance at 1.2829 (76.4% Fibonacci retracement, 50% Fibonacci retracement, 100% Fibonacci extension, horizontal overlap resistance). We do have to be cautious of the intermediate resistance at 1.2730 (61.8% Fibonacci extension, 50% Fibonacci retracement, 38.2% Fibonacci retracement, horizonal pullback resistance).
RSI (89) shows a bullish breakout as well as a bullish divergence with price which contributes to our bullish bias.

Bitcoin Testing Its Resistance, Prepare For a Drop
**BTCUSD is testing its resistance where we expect to see a reversal. **

Sell below 8254. Stop loss at 8527. Take profit at 7516.
Reason for the trading strategy (fundamentally):
The Bank of Japan has become the latest government financial institution to recognize the risks of state-issued cryptocurrencies. According to its Deputy Governor Masayoshi Amamiya, a national digital coin may jeopardize the traditional financial system established in developed countries. The Japanese central bank has no plans to issue its own crypto, he said. Masayoshi Amamiya shared his concerns that the issuance of central bank digital currencies will grant households and businesses direct access to central bank accounts. “This may have a large impact on the two-tiered currency system and private banks’ financial intermediation”. At the same time, Amamiya believes that central banks should always pay attention to ongoing innovation and follow technological advances in order to provide societies with the best financial infrastructure. With all the government regulations coming in place, investors’ confidence in the cryptocurrency market are definitely affected which explains the ever volatile
Reason for the trading strategy (technically):
We see price testing its resistance at 8254 (100% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap resistance) where we expect price to react off its, causing it to fall to its support at 7516 (50% Fibonacci retracement, horizontal pullback support).
Stochastic (55, 5, 3) is approaching its resistance at 97% where we expect to see a corresponding reaction.

MEX_Exchange · April 20, 2018, 2:48am

Date: April 20, 2018

GBPUSD Is Testing Its Support, Prepare For A Bounce
**GBPUSD is testing its support where we expect to see a bounce. **

Buy above 1.4060. Stop loss at 1.3991. Take profit at 1.4233.
Reason for the trading strategy (technically):
GBPUSD is approaching testing its support area at 1.4060 (100% Fibonacci extension, 76.4% Fibonacci retracement, horizontal overlap support, ascending support line) where we expect to see a bounce, pushing price up all the way to its resistance at 1.4233 (50% Fibonacci retracement, horizontal overlap resistance). We do have to be cautious of the intermediate resistance at 1.4147 (23.6% Fibonacci retracement, horizontal overlap support).
Stochastic (89, 5, 3) is approaching support at 1.07% where we expect to see a corresponding bounce.

EURAUD Is Testing Its Resistance, Prepare For A Reversal
**EURAUD is testing its resistance where we expect to see a reversal. **

Sell below 1.5997. Stop loss 1.6040. Take profit at 1.5923.
Reason for the trading strategy (technically):
EURAUD is testing its resistance area at 1.5997 (76.4% Fibonacci retracement, 61.8% Fibonacci extension, 50% Fibonacci retracement) where we expect to see a reversal, causing price to drop to its support at 1.5923 (61.8% Fibonacci extension, 50% Fibonacci retracement).
Stochastic (89, 5, 3) is approaching its resistance at 95% where we expect to see a corresponding reversal.

EURGBP Approaching Its Reversal, Prepare For A Reversal
**EURGBP is approaching its resistance where we look to sell on strength. **

Sell below 0.8797. Stop loss at 0.8837. Take profit at 0.8694.
Reason for the trading strategy (technically):
We see price approaching its resistance at 0.8797 (61.8% Fibonacci extension, 100% Fibonacci extension, 50% Fibonacci retracement) where we look to sell on strength. We expect to see a reversal, pushing price down to its support at 0.8694 (61.8% Fibonacci extension, horizontal swing low support).
Stochastic (89, 5, 3) is approaching its resistance at 98% where we expect to see a reversal.

Bitcoin Testing Its Resistance, Prepare For a Drop
**BTCUSD is testing its resistance where we expect to see a reversal. **

Sell below 8379. Stop loss at 8679. Take profit at 7850.
Reason for the trading strategy (fundamentally):
Brazil’s largest brokerage reportedly working on OTC Bitcoin Brokerage. The OTC bitcoin trading market appears to be attracting big banks and brokers from all over the world who wish to secure a piece of this growing pie for themselves. And the latest company is from the largest economy of South America. Bitcoin has been steadily gaining in popularity in Brazil, leading to number of interesting recent examples. Brazilian business and economics students have gotten universities to launch courses about the cryptocurrency, including a Master’s Degree Program. And the number of bitcoin investors in Brazil has surpassed the total number of individuals registered on the Sao Paulo Stock Exchange. As people become more educated and knowledgeable of this new medium of trade, the demand for this coins may increase, causing the cryptocurrency market to boom.
Reason for the trading strategy (technically):
We see price testing its resistance at 8379 (100% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap resistance) where we expect price to react off its, causing it to fall to its support at 7850 (horizontal swing low support).
Stochastic (55, 5, 3) is approaching its resistance at 97% where we expect to see a corresponding reaction.

MEX_Exchange · April 23, 2018, 2:16am

Date: April 23, 2018

GBPUSD Is Testing Its Support, Prepare For A Bounce
**GBPUSD is testing its support where we expect to see a bounce. **

Buy above 1.3991. Stop loss at 1.3925. Take profit at 1.4182.
Reason for the trading strategy (technically):
GBPUSD is approaching testing its support area at 1.3991 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support) where we expect to see a bounce, pushing price up all the way to its resistance at 1.4182 (50% Fibonacci retracement, horizontal overlap resistance). We do have to be cautious of the intermediate resistance at 1.4082 (23.6% Fibonacci retracement, horizontal overlap support).
Stochastic (55, 5, 3) is testing its support at 3.11% where we expect to see a corresponding bounce.

EURAUD Reversed Nicely Off Its Resistance, Prepare For Further Drop
**EURAUD reversed nicely off its resistance, prepare for a further drop. **

Sell below 1.6032. Stop loss 1.6068. Take profit at 1.5960.
Reason for the trading strategy (technically):
EURAUD reversed nicely off its resistance at 1.6032 (61.8% Fibonacci retracement, 100% Fibonacci extension) where we expect to see a further drop to its support at 1.5960 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal pullback support). We do have to be cautious of the intermediate support at 1.5986 (23.6% Fibonacci retracement, horizontal overlap support).
Stochastic (89, 5, 3) reversed off its resistance at 97% where a corresponding drop is expected.

AUDNZD Reversed Nicely Off Its Resistance, Prepare For A Further Drop
**AUDNZD is testing its resistance where we expect to see a drop. **

Sell below 1.0663. Stop loss at 1.0701. Take profit at 1.0551.
Reason for the trading strategy (technically):
Price is testing its resistance at 1.0663 (100% Fibonacci extension, 50% Fibonacci retracement, 23.6% Fibonacci retracement, horizontal overlap resistance) where we expect prices to react off its, pushing its all the way down to its support at 1.0551 (100% Fibonacci extension, 61.8% Fibonacci retracement). We do have to be cautious of the intermediate support at 1.0605 (61.8% Fibonacci extension, 38.2% Fibonacci retracement).
Stochastic (89, 5, 3) is testing its resistance at 95% where we expect to see a corresponding reaction.

Bitcoin Testing Its Resistance, Prepare For a Drop
**BTCUSD is testing its resistance where we expect to see a reversal. **

Sell below 9060. Stop loss at 9464. Take profit at 7821.
Reason for the trading strategy (fundamentally):
The price of Bitcoin (BCH) has spiked considerably over the past two weeks as the decentralized cryptocurrency’s market has just captured a $20Bn capitalization. The market value of BCH is currently hovering around $1,250 per coin and the digital asset commands close to $1Bn in trades over the past 24-hours. Bitcoin (BCH) is on a rampage, surpassing most of the 1,500 cryptocurrency performances this week recorded on Coinmarketcap. The reason for this is due to the significant demand for BCH this past week as the currency’s trade volume has doubled in less than three days. We see it however softening over this week as the heat over Bitcoin cools.
Reason for the trading strategy (technically):
We see price testing its major resistance at 9080 (61.8% Fibonacci extension, 76.4% Fibonacci retracement, 50% Fibonacci retracement, horizontal swing high resistance) where we expect price to react off it, pushing it to its support at 7821 (50% Fibonacci retracement, horizontal pullback support). We do have to be cautious of the intermediate support at 8453 (100% Fibonacci extension, 61.8% Fibonacci extension, 23.6% Fibonacci retracement, horizontal pullback support).
Stochastic (89, 5, 3) tested its resistance at 96% where a corresponding reaction is expected.

MEX_Exchange · April 24, 2018, 2:28am

Date: April 24, 2018

USDJPY Approaching Resistance, Prepare For a Reversal
**USDJPY is approaching its resistance where we expect a reversal to occur. **

Sell below 109.19. Stop loss at 109.81. Take profit at 107.94.
Reason for the trading strategy (technically):
USDJPY is approaching its resistance at 109.19 (76.4% Fibonacci retracement, 50% Fibonacci retracement, long term 61.8% Fibonacci extension) where we expect to see a reversal, pushing price down to its support at 107.94 (100% Fibonacci extension, 38.2% Fibonacci retracement, 61.8% Fibonacci retracement).
Stochastic (55, 5, 3) is approaching its resistance at 99% where we expect to see a corresponding reversal.

GBPJPY Bounced Nicely Off Its Support, Lookout For a Further Rise
**GBPJPY bounced off its support where we expect it to rise further. **

Buy above 150.58. Stop loss 149.69. Take profit at 153.85.
Reason for the trading strategy (technically):
GBPJPY tested its support at 150.58 (61.8% Fibonacci retracement, 38.2% Fibonacci retracement, horizontal overlap support, ascending support line) where we expect it to rise further to its resistance at 153.85 (100% Fibonacci extension, 61.8% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing high resistance). We do have to be cautious of the intermediate resistance at 152.19 (50% Fibonacci retracement, horizontal overlap resistance).
Stochastic (89, 5, 3) bounced off its support at 2.03% where it has a lot of upside potential.

USDCAD Is Testing Its Resistance, Prepare For a Reversal
**USDCAD is testing its resistance and we expect to see a reversal. **

Sell below 1.2854. Stop loss at 1.2953. Take profit at 1.2651.
Reason for the trading strategy (technically):
USDCAD is testing its resistance at 1.2854 (100% Fibonacci extension, 76.4% Fibonacci retracement, horizontal overlap resistance) where we expect to see a reversal, causing price to push down to its support at 1.2651 (61.8% Fibonacci retracement, horizontal overlap support).
Stochastic (55, 5, 3) is testing its resistance at 97.7% where we expect to see a corresponding reaction.

Bitcoin Testing Its Resistance, Prepare For a Drop
**BTCUSD is testing its resistance where we expect to see a reversal. **

Sell below 9175. Stop loss at 9464. Take profit at 7821.
Reason for the trading strategy (fundamentally):
Early investor in Tesla, Skype and Hotmail says bitcoin will be bigger than all those combined. Not only does venture capitalist Tim Draper think bitcoin is here to stay, he says it could be bigger than the internet. When asked during a debate how the digital currency compared to his early investments in Tesla, Hotmail and Skype, Draper said bitcoin will be “bigger than all of those combined. This affects the entire world and it’s going to be affected in a faster and more prevalent way than you ever imagined.” Draper, founder of leading venture capital firms Draper Associates and DFJ, reiterated his bullish call for bitcoin to hit $250,000 within four years. There are definitely influential people out there that can increase investor’s confidence in bitcoin and swiftly increase the demand for it. Tim Draper is definitely one of them.
Reason for the trading strategy (technically):
We see price testing its major resistance at 9175 (, 76.4% Fibonacci retracement, 50% Fibonacci retracement, horizontal swing high resistance) where we expect price to react off it, pushing it to its support at 7821 (50% Fibonacci retracement, horizontal pullback support). We do have to be cautious of the intermediate support at 8513 (100% Fibonacci extension, 61.8% Fibonacci extension, 23.6% Fibonacci retracement, horizontal pullback support).
Stochastic (89, 5, 3) tested its resistance at 96% where a corresponding reaction is expected.

MEX_Exchange · April 25, 2018, 2:19am

Date: April 25, 2018

GBPUSD Bounced Nicely Off Its Support, Potential Breakout
**GBPUSD bounced nicely off its support where we expect it to have a bullish acceleration if immediate resistance is broken. **

Buy above 1.3930. Stop loss at 1.3848. Take profit at 1.4176.
Reason for the trading strategy (technically):
GBPUSD bounced nicely off its support at 1.3930 (100% Fibonacci extension) where we expect it to rise further if it breaks out of its immediate resistance at 1.3992 (horizontal overlap resistance, descending channel). Once this level is broke, a bullish acceleration would be triggered, causing price to rise to its resistance at 1.4176 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance). We do need to be cautious of the intermediate resistance at 1.4090 (38.2% Fibonacci retracement, horizontal overlap resistance).
Stochastic (89, 5, 3) shows a corresponding bounce off its support at 2.6%.

EURAUD Approaching Its Resistance, Prepare For A Reversal
**EURAUD is approaching its resistance where we expect to see a reaction. **

Sell below 1.6121. Stop loss 1.6185. Take profit at 1.5980.
Reason for the trading strategy (technically):
EURAUD is approaching its resistance at 1.6121 (100% Fibonacci extension, 61.8% Fibonacci extension, 78.6% Fibonacci retracement, horizontal swing high resistance) where we expect to see a reversal, causing price to fall to its support at 1.5980 (50% Fibonacci retracement, 38.2% Fibonacci retracement, 61.8% Fibonacci extension, horizontal pullback support).

Stochastic (55, 5, 3) is approaching its resistance at 96%. We have also identified a bearish divergence with price which contributes to our bearish bias.

AUDNZD Approaching Resistance, Prepare For A Reversal
**AUDNZD is approaching its resistance where we expect to see a reversal. **

Sell below 1.0706. Stop loss at 1.0752. Take profit at 1.0616.
Reason for the trading strategy (technically):
AUDNZD is approaching its resistance at 1.0706 (61.8% Fibonacci retracement, 38.2% Fibonacci retracement, horizontal overlap resistance) where we expect to see a reaction, causing price to fall to its support at 1.0616 (38.2% Fibonacci retracement, horizontal swing low support).
Stochastic (89, 5, 3) is approaching its resistance at 97%. We have also identified a bearish divergence with price which contributes to our bearish bias.

Bitcoin Testing Its Ascending Channel, Remain Bullish
**BTCUSD is being held up by its ascending channel where we expect it to rise further. **

Buy above 9129. Stop loss at 8503. Take profit at 10222.
Reason for the trading strategy (fundamentally):
News.Bitcoin.com recently spoke with Matthew Martin, the CEO of Blossom Finance about the launch of Blossom’s new cryptocurrency infused microfinance fund. Blossom enables international investors a commercial return on microfinance institutions that are aimed at reducing poverty. The company partners with ‘BMT’ (Baital Mal wat Tamwil) model institutions that focus on solving social issues and creating self-sustaining businesses. Now Blossom is partnered with PBMT, an Indonesian Islamic microfinance firm, and plans to publicly launch a cryptocurrency microfinance fund. With more and more emerging markets opening up to cryptocurrencies, we can expect demand and the value of it to increase as well as it becomes a more recognizable medium of exchange.
Reason for the trading strategy (technically):
We see BTCUSD being held up by its ascending channel where we expect it to rise further. We look to buy above 9129 (horizontal pullback support) where price is expected to rise to its resistance at 10222 (100% Fibonacci extension, 61.8% Fibonacci extension, horizontal overlap resistance).
RSI (55) is being held up by an ascending line and ichimoku cloud is showing signs of bullish pressure which contributes to our bullish bias.

MEX_Exchange · April 26, 2018, 2:34am

Date: April 26, 2018

CADCHF Approaching Resistance, Lookout For A Reversal
**CADCHF is approaching its resistance where we expect to see a reversal. **

Sell below 0.7662. Stop loss at 0.7681. Take profit at 0.7609.
Reason for the trading strategy (technically):
CADCHF is approaching its resistance area where we look to sell below 0.7662 (100% Fibonacci extension, 100% Fibonacci extension, 61.8% Fibonacci retracement, 50% Fibonacci retracement, horizontal overlap resistance). We expect price to fall to its support at 0.7609 (61.8% Fibonacci extension, multiple swing low support).
Stochastic (55, 5, 3) is approaching its resistance at 96% where a corresponding reaction is expected.

GBPJPY Approaching Its Resistance, Prepare For A Reversal
**GBPJPY is approaching its resistance where we expect to see a reaction. **

Sell below 152.67. Stop loss 153.85. Take profit at 150.58.
Reason for the trading strategy (technically):
GBPJPY is approaching its resistance at 1525.67 (61.8% Fibonacci retracement, horizontal overlap resistance) where we expect to see a reaction, causing price to fall to its support at 150.58 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support). We do have to be cautious of the intermediate support at 151.68 (50% Fibonacci retracement, horizontal pullback support).

Stochastic (89, 5, 3) is approaching its resistance at 97% where we expect to see a corresponding reaction.

AUDJPY Approaching Resistance, Prepare For A Reversal
**AUDJPY is approaching its resistance where we expect to see a reversal. **

Sell below 83.07. Stop loss at 83.39. Take profit at 82.48.
Reason for the trading strategy (technically):
AUDJPY is approaching its resistance where we look to sell on strength at 83.07 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap resistance). We expect prices to react off it, pushing it all the way down to its support at 82.48 (50% Fibonacci retracement, 50% Fibonacci retracement, 76.4% Fibonacci retracement, multiple swing low support).
Stochastic (55, 5, 3) is approaching its resistance at 95% where we expect to see a corresponding reversal.

Bitcoin Testing Its Ascending Channel, Remain Bullish
**BTCUSD is being held up by its ascending channel where we expect it to rise further. **

Buy above 8467. Stop loss at 7708. Take profit at 9719.
Reason for the trading strategy (fundamentally):
In an interview with CNBC, CEO of Nasdaq, Adena Friedman reminded everyone that Bitcoin and other coins are more than a new reality, a new market trend. They are new currencies and methods of payment. "I believe that digital currencies will continue to persist…it’s just a matter of how long it will take for that space to mature,” Friedman said on CNBC today. “If you were to rank interest in cryptocurrency on a scale of zero to 10, Friedman would be a six,” says Eric Ervin, CEO of Reality Shares. “She would help get the SEC comfortable with cryptocurrency trading. She would not passively wait for them to get on board,” he says. “If the SEC wanted her opinion, she would give it a thumbs up.” After Nasdaq CEO blesses cryptocurrency, Investors will see a bigger future for Bitcoin.
Reason for the trading strategy (technically):
We see BTCUSD being held up by its ascending channel where we expect it to rise further. We look to buy above 8467 (61.8% Fibonacci retracement, 38.2% Fibonacci retracement, horizontal pullback support) where price is expected to rise to its resistance at 9719 (100% Fibonacci extension, 61.8% Fibonacci extension, horizontal swing high resistance).
Stochatic (34, 5, 3) is approaching its support at 6.8% where we expect to see a bounce.
.

MEX_Exchange · April 27, 2018, 2:26am

Date: April 27, 2018

USDJPY Is Testing Its Resistance, Prepare For a Drop
**USDJPY has been testing its resistance where we expect to see a drop. **

Sell below 109.27. Stop loss at 109.88. Take profit at 107.94.
Reason for the trading strategy (technically):
USDJPY is testing its resistance at 109.27 (Long term 61.8% Fibonacci extension, 50% Fibonacci retracement, 78.6% Fibonacci retracement, horizontal swing high resistance) where we expect to see a drop to its support at 107.94 (100% Fibonacci extension, 38.2% Fibonacci retracement, 61.8% Fibonacci retracement). We do have to be cautious of the intermediate support at 108.47 (38.2% Fibonacci retracement, horizontal overlap support).
Stochastic (55, 5, 3) is testing its resistance at 99% where a corresponding reaction is expected.

EURUSD Approaching Support, Prepare For A Bounce
**EURUSD is approaching its support where we expect to see a bounce. **

Buy above 1.2086. Stop loss 1.2024. Take profit at 1.2237.
Reason for the trading strategy (technically):
EURUSD is approaching its support area at 1.2086 (61.8% Fibonacci extension, 76.4% Fibonacci retracement, horizontal overlap support) where we expect prices to bounce off and rise to its resistance at 1.2237 (38.2% Fibonacci retracement, horizontal overlap resistance). We do have to be cautious of the intermediate resistance at 1/2202 (61.8% Fibonacci extension, horizontal overlap resistance).
Stochastic (89, 5, 3) is testing its support at 2.31% where a corresponding bounce is expected.

CADCHF Reversed Off Its Resistance, Prepare For Further Drop
**CADCHF is testing its resistance where we expect to see a further drop. **

**Sell below 0.7695. Stop loss at 0.7713. Take profit at 0.7648. **
Reason for the trading strategy (technically):
CADCHF is tested its resistance area at 0.7695 (76.4% Fibonacci retracement, multiple swing high resistance) where it reacted and reversed. We are expecting a further drop down to its support at 0.7648 (50% Fibonacci retracement, horizontal overlap support). We do however need to be cautious of the intermediate support at 0.7670 (23.6% Fibonacci retracement, horizontal overlap support).
Stochastic (89, 5, 3) is testing its resistance where we are expecting a corresponding drop. We have also identified a bearish divergence with price which contributes to our bearish bias.

Bitcoin Testing Its Ascending Channel, Remain Bullish
**BTCUSD is being held up by its ascending channel where we expect it to rise further. **

Buy above 8937. Stop loss at 8454. Take profit at 9946.
Reason for the trading strategy (fundamentally):
Bitcoin’s limited supply is about to get a bit more limited. Barring an unforeseen event, the 17 millionth bitcoin is likely to be mined in the coming day, data from Blockchain.info shows a development that would mark yet another milestone for the world’s first cryptocurrency. That’s because as per bitcoin’s current rules, only 21 million bitcoins can ever be created. With supply shrinking, it looks as though the value and price of bitcoin will increase as demand exceeds supply.
Reason for the trading strategy (technically):
We see BTCUSD being held up by its ascending channel where we expect it to rise further. We look to buy above 8937 (38.2% Fibonacci retracement, horizontal overlap support) where price is expected to rise to its resistance at 9946 (61.8% Fibonacci extension, long term 61.8% Fibonacci extension). We do have to be cautious of the intermediate resistance at 9726 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance).
Stochatic (34, 5, 3) is approaching its support at 6.8% where we expect to see a bounce.

MEX_Exchange · April 30, 2018, 2:18am

Date: April 30, 2018

AUDNZD Is Is Approaching Its Resistance, Prepare For a Reversal
AUDNZD is approaching its resistance where we expect to see a reversal.

Sell below 1.0730. Stop loss at 1.0774. Take profit at 1.0617.
Reason for the trading strategy (technically):
AUDNZD is approaching its resistance at 1.0730 (61.8% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing high resistance) where we expect to see a reversal, causing price to fall to its support at 1.0617 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal pullback support). We do have to be cautious of the intermediate support at 1.0670 (100% Fibonacci extension, 61.8% Fibonacci retracement, 23.6% Fibonacci retracement, horizontal overlap support).
Stochastic (89, 5, 3) is approaching resistance at 97% where we expect to see a corresponding reversal.

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

Buy above 1.2068. Stop loss 1.2007. Take profit at 1.2253.
Reason for the trading strategy (technically):
EURUSD bounced nicely off its support at 1.2068 (76.4% Fibonacci retracement, 50% Fibonacci retracement, horizontal swing low resistance) where we expect prices to rise further to its resistance at 1.2253 (100% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap resistance). We do have to be cautious of the intermediate resistance at 1.2178 (61.8% Fibonacci extension, horizontal pullback resistance).

Stochastic (55, 5, 3) made corresponding bounce off its support at 2.31% where it has a lot of upside potential.

EURAUD Bounced Nicely Off Its Support, Potential To Rise Further
EURAUD is bounced nicely off its support where we expect it to rise further.

Buy above 1.5965. Stop loss at 1.5908. Take profit at 1.6142.
Reason for the trading strategy (technically):
EURAUD bounced off its support at 1.5965 (61.8% Fibonacci extension, 50% Fibonacci retracement, 61.8% Fibonacci retracement, ascending support line) where we expect it to rise further to its resistance at 1.6142 (61.8% Fibonacci extension, horizontal swing high resistance). We do have to be cautious of the intermediate resistance at 1.6058 (23.6% Fibonacci retracement, horizontal overlap resistance).
Stochastic (55, 5, 3) bounced nicely off its support at 2.37% where it has a lot of upside potential.

Bitcoin Testing Its Ascending Channel, Remain Bullish
BTCUSD is being held up by its ascending channel where we expect it to rise further.

Buy above 9194. Stop loss at 8720. Take profit at 10168.
Reason for the trading strategy (fundamentally):
Liberstad is attracting more and more libertarians from around the world, local media reports. According to its website, 112 people have already bought land plots in the “anarcho-capitalist city” established on farmland, not far from Kristiansand in Southern Norway where payments in 27 different cryptocurrencies are currently accepted, including bitcoin cash (BCH) and bitcoin core (BTC). The team behind Liberstad plans to start handing over the purchased plots by 2020, when the first residents will be able to move in. With cryptocurrencies now being used as a medium of exchange, we can expect the demand and thus the value of cryptocurrencies to increase.
Reason for the trading strategy (technically):
We see BTCUSD being held up by its ascending channel where we expect it to rise further. We look to buy above 9194 (38.2% Fibonacci retracement, 23.6% Fibonacci retracement, horizontal overlap support) where price is expected to rise to its resistance at 10168 (100% Fibonacci extension, channel resistance). We do have to be cautious of the intermediate resistance at 9726 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance).
Stochatic (34, 5, 3) still has some upside potential.

MEX_Exchange · May 2, 2018, 2:13am

Date: May 2nd, 2018

EURBP Is Testing Its Resistance, Prepare For a Reversal
EURGBP is testing its resistance where we expect to see a reversal.

Sell below 0.8836. Stop loss at 0.8887. Take profit at 0.8729.
Reason for the trading strategy (technically):
EURGBP is testing its resistance at 0.8336 (61.8% Fibonacci retracement, 100% Fibonacci extension, horizontal overlap resistance) where we expect price to react off it, causing it to fall to its support at 0.8729 (100% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap support).
Stochastic (89, 5, 3) is approaching resistance at 98% where a corresponding reaction is expected.

AUDJPY Is Approaching Support, Prepare For A Bounce
**AUDJPY is approaching its support where we expect to see a bounce. **

Buy above 82.02. Stop loss 81.38. Take profit at 83.04.
Reason for the trading strategy (technically):
AUDJPY is approaching its support at 82.028 (61.8% Fibonacci retracement, 61.8% Fibonacci retracement, 76.4% Fibonacci retracement, horizontal overlap support) where we expect to see a bounce, causing price to rise to its resistance at 83.04 (50% Fibonacci retracement, horizontal overlap resistance).
Stochastic (89, 5, 3) is approaching its support at 1.02% where we expect to see a corresponding bounce.

EURAUD Bounced Nicely Off Its Support, Potential To Rise Further
**EURAUD is bounced nicely off its support where we expect it to rise further. **

Buy above 1.6001. Stop loss at 1.5963. Take profit at 1.6142.
Reason for the trading strategy (technically):
EURAUD is being held up nicely by its ascending support line where we look to buy on weakness at 1.6001 (50% Fibonacci retracement, 38.2% Fibonacci retracement, Horizontal swing low support) where we expect it to rise further to its resistance at 1.6142 (61.8% Fibonacci extension, horizontal swing high resistance). We do have to be cautious of the intermediate resistance at 1.6058 (23.6% Fibonacci retracement, horizontal overlap resistance).
Stochastic (89, 5, 3) bounced nicely off its support at 2.37% where it has a lot of upside potential.

Bitcoin Broke Out Of Its Ascending Channel, Remain Bullish
BTCUSD broke out of its ascending channel and we expect it to drop further.

Sell below 9185. Stop loss at 9510. Take profit at 8447.
Reason for the trading strategy (fundamentally):
Just yesterday in an interview with Yahoo Finance, billionaire investor Warren Buffett wants to make one thing clear: Unlike buying stocks, bonds or real estate, buying bitcoin is not an investment. “That’s because it lacks intrinsic value,” Buffett says. Bitcoin is based solely on pure demand and supply and only increases in value by being bought and sold, he argues. Its value comes from what people are willing to pay. “If you ban trading in … bitcoin, which nobody knows exactly what it is, people would say, 'Well why in the world would I buy it?’” Also in January, Buffett told CNBC, “In terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a bad ending, when it happens or how or anything else, I don’t know.” With Berkshire Hathaway’s CEO who has built his company and his $82.8 billion net worth backing companies that have substantive value say this, it could hurt investor’s confidence in Bitcoin.
Reason for the trading strategy (technically):
BTCUSD has broken out of its ascending channel where we look to sell on strength at 9185 (50% Fibonacci retracement, horizontal overlap resistance). We expect prices to drop to its support at 8447 (100% Fibonacci extension, 38.2% Fibonacci retracement, horizontal pullback support).
RSI (89) has broken out of its ascending support line and the ichimoku cloud is showing signs of downward pressure which contributes to our bearish bias.

MEX_Exchange · May 3, 2018, 2:43am

Date: May 3rd, 2018

GBPJPY Testing Its Support, Prepare For A Bounce
GBPJPY is testing its support where we expect to see a bounce.

Buy above 148.99. Stop loss at 148.40. Take profit at 150.18.
Reason for the trading strategy (technically):
GBPJPY is testing its support at 148.99 (78.6% Fibonacci retracement, 61.8% Fibonacci extension, horizontal swing low support) where we expect to see a bounce, causing price to rise to its resistance at 150.18 (61.8% Fibonacci extension, horizontal overlap resistance).
Stochastic (89, 5, 3) is testing its support at 1.90% where a corresponding reaction is expected.

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

Buy above 0.7490. Stop loss 0.7421. Take profit at 0.7649.
Reason for the trading strategy (technically):
AUDUSD bounced nicely off its support at 0.7490 (100% Fibonacci extension, 100% Fibonacci extension, 78.6% Fibonacci retracement, horizontal overlap support) where we expect to see price rising to its resistance at 0.7649 (50% Fibonacci retracement, 38.2% Fibonacci retracement, horizontal pullback resistance). We do have to be cautious of the intermediate resistance at 0.7582 (23.6% Fibonacci retracement, horizontal overlap resistance).

Stochastic (89, 5, 3) bounced off its support at 1.94% where a corresponding rise is expected.

GBPUSD At Support, Prepare For A Bounce
**GBPUSD is at support where we expect to see a bounce. **

Buy above 1.3585. Stop loss at 1.3463. Take profit at 1.3788.
Reason for the trading strategy (technically):
GBPUSD is testing its support at 1.3585 (50% Fibonacci retracement, 61.8% Fibonacci retracement, horizontal overlap support) where we expect to see a bounce, causing price to rise to its resistance at 1.3788 (61.8% Fibonacci extension, 23.6% Fibonacci retracement, horizontal pullback resistance)
Stochastic (89, 5, 3) is at support where we expect to see a corresponding bounce.

Bitcoin Approaching Its Support, Prepare For A Breakout!
BTCUSD is approaching its support where we expect to see a breakout, causing price to fall.

Sell below 9185. Stop loss at 9510. Take profit at 8447.
Reason for the trading strategy (fundamentally):
Goldman Sachs will launch a bitcoin trading desk, the investment banking giant confirmed on Wednesday. The NY Times reports that the firm, one of the largest financial institutions in the United States, is preparing to begin using its own funds to sponsor a variety of investment contracts tied to the bitcoin price and hopes to eventually trade “physical bitcoins” directly. Eventually, the bank hopes to receive regulatory approval from the Federal Reserve and state-level authorities to begin trading actual bitcoins — ironically referred to as “physical bitcoins” — a development that will undoubtedly cement the flagship cryptocurrency’s status as a mainstream financial asset. With more institutions recognizing the importance of Bitcoin, this could boost investor’s confidence tremendously.
Reason for the trading strategy (technically):
BTCUSD is approaching its support at 9208 (38.2% Fibonacci retracement, horizontal overlap support) where we look to sell on weakness. We expect price to fall to its support at 8447 (100% Fibonacci extension, 38.2% Fibonacci retracement, horizontal pullback support). We do have to be cautious of the intermediate support at 8796 (61.8% Fibonacci extension, horizontal swing low support).
Stochastic (34, 5, 3) is approaching its resistance at 96% where a corresponding reversal drop is expected.

MEX_Exchange · May 4, 2018, 2:50am

Date: May 4th, 2018

EURUSD Bounced Nicely Off Support, Prepare For Further Rise
**EURUSD bounced off its support where we expect to see it rise further. **

Buy above 1.1938. Stop loss at 1.1828. Take profit at 1.2157.
Reason for the trading strategy (technically):
EURUSD bounced nicely off its support at 1.1938 (61.8% Fibonacci retracement, 76.4% Fibonacci retracement, horizontal overlap support) where we expect prices to rise to its resistance at 1.2157 (50% Fibonacci retracement, 38.2% Fibonacci retracement, horizontal pullback resistance). We do have to be cautious of the intermediate resistance at 1.2064 (61.8% Fibonacci extension, 23.6% Fibonacci retracement, horizontal pullback resistance).
Stochastic (89, 5, 3) bounced off its support at 1.005% where a corresponding rise is expected.

<img src="//babypips-discourse-media-production.s3.amazonaws.com/original/3X/5/e/5eb52e4fc0df50601fb493d02b1751d1aade7ac2.png" width="690" height="318">

AUDNZD Approaching Resistance, Look to Sell On Strength!
AUDNZD is approaching resistance where we expect to see a reversal.

Sell below 1.0730. Stop loss 1.0772. Take profit at 1.0618.
Reason for the trading strategy (technically):
AUDNZD is approaching resistance at 1.0730 (61.8% Fibonacci extension, 78.6% Fibonacci retracement, multiple swing high resistance) where we expect to see a reversal, causing price to fall to its support at 1.0618 (61.8% Fibonacci extension, horizontal swing low support). We do have to be cautious of the intermediate support at 1.0670 (100% Fibonacci extension, 50% Fibonacci retracement, 23.6% Fibonacci retracement, horizontal swing low support).

Stochastic (55, 5, 3) is approaching resistance where a corresponding reaction is expected.

EURAUD Testing Its Support, Prepare For A Bounce!
**EURAUD is testing its support where we expect to see a bounce. **

Buy above 1.5883. Stop loss at 1.5850. Take profit at 1.5964.
Reason for the trading strategy (technically):
EURAUD is testing its support at 1.5883 (61.8% Fibonacci retracement, 50% Fibonacci retracement, horizontal overlap support) where we expect to see price rising to its resistance at 1.5964 (100% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap resistance).
Stochastic (89, 5, 3) is approaching support at 4.59% where a corresponding bounce is expected.

Bitcoin Tested Its Resistance, Prepare For A Further Drop
BTCUSD tested its resistance and reversed off it and we expect to see a further drop!

Sell below 9734. Stop loss at 10119. Take profit at 9117.
Reason for the trading strategy (fundamentally):
Nouriel Roubini known as “Dr. Doom for his canny prediction of the 2008 Financial crisis said that Bitcoin “will be its end”. Economist Nouriel Roubini sharply criticized cryptocurrencies on a panel at the Milken Institute Global Conference yesterday, Bloomberg reported May 2. Roubini said that “all this talk of decentralization is just bulls**t.” Panellist Bill Barhydt, who has worked on cryptography for the CIA, responded, “I don’t even know where to begin.” He proceeded to censure cryptocurrencies, arguing that digital coins are not a store of value, and face scalability issues in comparison with centrally intermediated payment systems. “I think that more and more countries will start to make cryptocurrency exchanges illegal like China did. New regulations will be adopted. So, this will find its end.” Around the world the debate of the future of bitcoin still goes on and the volatility in people’s opinion of bitcoin is personified in its price.
Reason for the trading strategy (technically):
BTCUSD tested its resistance at 9734 (61.8% Fibonacci extension, 100% Fibonacci extension, long term 61.8% Fibonacci retracement, horizontal swing high resistance) where we expect to see price push down further to its support at 9117 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support).
Stochastic (34, 5, 3) reversed nicely off its resistance at 93% where a corresponding drop is expected.

MEX_Exchange · May 7, 2018, 2:39am

Date: May 7th, 2018

AUDUSD Tested Its Resistance, Prepare For Further Rise
**AUDUSD bounced off its support where we expect to see it rise further. **

Buy above 0.7490. Stop loss at 0.7421. Take profit at 0.7645.
Reason for the trading strategy (technically):
AUDUSD bounced off its support at 0.7490 (100% Fibonacci extension, 78.6% Fibonacci retracement, horizontal overlap support) where we expect price to rise to its resistance at 0.7645 (100% Fibonacci extension, 50% Fibonacci retracement, 23.6% Fibonacci retracement, horizontal pullback resistance). We do have to be cautious of the intermediate resistance at 0.7582 (horizontal pullback resistance).
Stochastic (89, 5, 3) bounced from its support at 2.4% where it still has a lot of upside potential.

GBPJPY Approaching Support, Prepare For A Bounce!
**GBPJPY is approaching its support where we expect to see a bounce. **

Buy above 147.03. Stop loss 146.05. Take profit at 148.96.
Reason for the trading strategy (technically):
GBPJPY is approaching its support at 147.03 (76.4% Fibonacci retracement, 61.8% Fibonacci extension, horizontal swing low support) where we expect price to rise to its resistance at 148.96 (100% Fibonacci extension, 38.2% Fibonacci retracement, horizontal pullback resistance).

Stochastic (89, 5, 3) is approaching its support at 2.11% where a corresponding bounce is expected.

EURGBP Approaching Resistance, Prepare For A Reversal.
**EURGBP is approaching its resistance where we expect to see a reversal. **

Sell below 0.8851. Stop loss at 0.8903. Take profit at 0.8731.
Reason for the trading strategy (technically):
EURGBP is approaching its resistance at 0.8851 (100% Fibonacci extension, 61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance) where we expect price to react off it, causing it to fall to its support at 0.8731 (100% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap support). We do have to be cautious of the intermediate support at 0.8787 (23.6% Fibonacci retracement, horizontal overlap support).
Stochastic (89, 5, 3) is approaching resistance at 97% where a corresponding reversal is expected. We have also identified a bearish divergence with price which contributes to our bearish bias.

BTCUSD Is Testing Its Ascending Channel Support!
BTCUSD is testing its ascending channel support where we expect to see it bounce!

Sell below 9734. Stop loss at 10119. Take profit at 9117.
Reason for the trading strategy (fundamentally):
Bitcoin adoption continues to grow rapidly worldwide. This adoption roundup features four merchants that recently started accepting the digital currency – a boutique hotel in Spain, parking lots, an electrical supply store, and online courses in Japan. Park Realty Co. Ltd., which provides a parking lot sharing serving called QRpark, announced last week that it has started accepting bitcoin payments and wrote: “We decided to introduce a bitcoin payment service, expecting to increase the convenience for customers by increasing the means of payment and [it will] lead to the acquisition of new customers.” With more and more companies around the world accepting Bitcoin as a medium of exchange, the value of Bitcoin will increase.
Reason for the trading strategy (technically):
BTCUSD is testing its ascending channel support where we look to buy on weakness at 9286 (61.8% Fibonacci retracement, horizontal pullback support) where we expect price to bounce up all the way to its resistance at 9972 (61.8% Fibonacci extension, horizontal swing high resistance).
RSI (34) is approaching its descending support line where a corresponding bounce is expected.

MEX_Exchange · May 8, 2018, 4:38am

Date: May 8th, 2018

USDJPY Bounced Nicely Off Ascending Support, Remain Bullish
**USDJPY bounced off its support where we expect to see it rise further. **

Buy above 108.76. Stop loss at 108.37. Take profit at 109.52.
Reason for the trading strategy (technically):
USDJPY bounced nicely off its support at 108.76 (23.6% & 38.2% Fibonacci retracement, horizontal swing low support) where we expect price to rise to its resistance at 109.52 (61.8% Fibonacci retracement, horizontal overlap resistance).
Stochastic (89, 5, 3) is bounced off its support at 6.3% where it has the potential to rise further.

<img src="//babypips-discourse-media-production.s3.amazonaws.com/original/3X/4/8/484c69583d0f7e1751919252583b533fa9ee3c84.png" width="690" height="298">

**GBPCHF Approaching Resistance, Prepare For A Drop **
**GBPCHF is approaching resistance where we expect to see a reversal. **

Sell below 1.3641. Stop loss 1.3702. Take profit at 1.3477.
Reason for the trading strategy (technically):
GBPCHF is approaching its resistance at 1.3641 (61.8% Fibonacci extension, 50% & 38.2% Fibonacci retracement, horizontal overlap resistance) where we expect prices to drop to its support at 1.3447 (38.2% Fibonacci retracement, horizontal overlap support). We do have to be cautious of the intermediate support at 1.3511 (horizontal swing low support).

Stochastic (55, 5, 3) is approaching resistance at 96% where a corresponding reaction is expected.

EURAUD Bounced Nicely Off Support, Prepare For Further Rise
**EURAUD bounced nicely off its support where we expect to see it rise further. **

Buy above 1.5846. Stop loss at 1.5788. Take profit at 1.5964.
Reason for the trading strategy (technically):
EURAUD bounced nicely off its support at 1.5846 (78.6% Fibonacci retracement, horizontal swing low support) where we expect prices to rise to its resistance at 1.5964 (38.2% Fibonacci retracement, horizontal overlap resistance).
Stochastic (55, 5, 3) bounced off its support at 4.6% where a corresponding rise is expected. Bullish divergence with price has also been identified.

BTCUSD Is Testing Its Ascending Channel Support!
BTCUSD is testing its ascending channel support where we expect to see it bounce!

Buy above 9286. Stop loss at 9027. Take profit at 9972.
Reason for the trading strategy (fundamentally):
Microsoft co-founder, Bill Gates said Monday he would bet against bitcoin if he could. “As an asset class, you’re not producing anything and so you shouldn’t expect it to go up. It’s kind of a pure ‘greater fool theory’ type of investment,” Gates said on CNBC’. “Bitcoin and ICOs, I believe completely [they’re some] of the crazier, speculative things,” Gates said. Like many critics of the cryptocurrency price surge, Gates did say the underlying blockchain technology had its merits. The debate about Bitcoin goes on, however as more respected individuals such as Warren Buffett and Bill gates step up to give their opinion about Bitcoin, this could affect investor’s confidence.
Reason for the trading strategy (technically):
BTCUSD is testing its ascending channel support where we look to buy on weakness at 9286 (61.8% Fibonacci retracement, 100% Fibonacci extension, horizontal pullback support) where we expect price to bounce up all the way to its resistance at 9972 (61.8% Fibonacci extension, horizontal swing high resistance).
RSI (34) bounced off its support where a corresponding rise is expected.

MEX_Exchange · May 9, 2018, 3:00am

Date: May 9th, 2018

AUDNZD Approaching Support, Prepare For A Bounce!
**AUDNZD is approaching its support where we expect price to rise. **

Buy above 1.0669. Stop loss at 1.0631. Take profit at 1.0750.
Reason for the trading strategy (technically):
AUDNZD is approaching its support at 1.0669 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support) where we expect prices to rise to its resistance at 1.0750 (horizontal swing high resistance).
Stochastic (89, 5, 3) is approaching its support at 2.7% where we expect to see a corresponding bounce.

<img src="//babypips-discourse-media-production.s3.amazonaws.com/original/3X/f/1/f16155768b6e1bbe5d29206f7798dcf0beac6ae3.png" width="690" height="366">

EURGBP Is Approaching Support, Prepare For A Bounce
**EURGBP is approaching support where we expect to see a bounce. **

Buy above 0.8733. Stop loss 0.8691. Take profit at 0.8836.
Reason for the trading strategy (technically):
EURGBP is approaching its support at 0.8733 (100% Fibonacci extension, 50% Fibonacci retracement, 61.8% Fibonacci retracement, horizontal overlap support) where we expect price to rise to its resistance at 0.8836 (61.8% Fibonacci extension, horizontal swing high resistance). We do have to be cautious of the intermediate resistance at 0.8769 (38.2% Fibonacci retracement, horizontal overlap resistance).
Stochastic (89, 5, 3) bounced from its support at 2.4% where a corresponding rise is expected.

CADCHF Testing Its Resistance, Remain Bullish
**CADCHF is testing its resistance where we expect a further rise in price if broken. **

Buy above 0.7745. Stop loss at 0.7714. Take profit at 0.7807.
Reason for the trading strategy (technically):
CADCHF is testing its resistance at 0.7745 (38.2% Fibonacci retracement, horizontal overlap resistance) where we expect price to rise to its resistance at 0.78070 (horizontal swing high resistance) if broken.
Stochastic (55, 5, 3) bounced from its support at 7.7% where a corresponding rise is expected.

BTCUSD Broke Out of Its Ascending Channel, Remain Bearish
BTCUSD broke out of its ascending channel where we expect a further drop in price if support is broken

Sell below 9100. Stop loss at 9431. Take profit at 8644.
Reason for the trading strategy (fundamentally):
Former Goldman Sachs President Gary Cohn said Tuesday he thinks the world will have a global cryptocurrency that is not bitcoin. “I’m not a big believer in bitcoin. I am a believer in blockchain technology,” Cohn told CNBC. Cohn expects the digital coin of the future will be simpler than bitcoin. “It will be a more easily understood cryptocurrency,” he said. “It will probably have some blockchain technology behind it, but it will be much more easily understood how it’s created, how it moves and how people can use it.”
Reason for the trading strategy (technically):
BTCUSD broke out of its ascending channel where it is now testing its support at 9100 (61.8% Fibonacci retracement, 76.4% Fibonacci retracement, horizontal overlap support). If broken, we expect prices to fall to its next support at 8644 (38.2% Fibonacci retracement, horizontal swing low support).
RSI (89) has broken out of its support and the ichimoku cloud is showing signs of bearish pressure which contributes to our bearish bias.

MEX_Exchange · May 10, 2018, 3:48am

Date: May 10th, 2018

USDJPY Approaching Support, Look out For A Bounce!
**USDJPY is approaching support where we expect to see a bounce. **

Buy above 109.53. Stop loss at 109.21. Take profit at 110.24.
Reason for the trading strategy (technically):
USDJPY is approaching its support at 109.53 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap support) where we expect prices to rise to its resistance at 110.24 (61.8% Fibonacci retracement).
RSI (34) shows an ascending line and a breakout from a descending resistance line. Ichimoku cloud also shows signs of bullish pressure which contributes to our bullish bias.

GBPCHF Is Approaching Resistance, Prepare For A Reversal
**GBPCHF is approaching its resistance where we expect to see a reversal. **

Sell below 1.3641. Stop loss 1.3702. Take profit at 1.34775.
Reason for the trading strategy (technically):
GBPCHF is approaching its resistance at 1.3641 (61.8% Fibonacci extension, 50% & 38.2% Fibonacci retracement, horizontal overlap resistance) where we expect prices to drop to its support at 1.3447 (38.2% Fibonacci retracement, horizontal overlap support). We do have to be cautious of the intermediate support at 1.3511 (horizontal swing low support).

Stochastic (55, 5, 3) is approaching resistance at 96% where a corresponding reaction is expected. A bearish divergence with price was also identified which contributes to our bearish bias.

GBPJPY Reversed Nicely Off Resistance, Remain Bearish
**GBPJPY reversed nicely off its resistance where we expect it to drop further. **

Sell 149.20. Stop loss at 150.01. Take profit at 147.14.
Reason for the trading strategy (technically):
GBPJPY reversed off its resistance at 149.20 (100% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap resistance) where we expect prices to drop to its support at 147.14 (horizontal swing low support)
Stochastic (89, 5, 3) is reversed off its resistance at 96% where it has a lot of corresponding downside potential.

BTCUSD Approaching Resistance, Prepare For Reversal
**BTCUSD is approaching its resistance where we expect to see a reversal. **

Sell below 9475. Stop loss at 9766. Take profit at 8894.
Reason for the trading strategy (fundamentally):
The Chairman of the National Securities and Stock Market Commission of Ukraine has indicated the regulator favors a decision to recognize cryptocurrencies as financial instruments. “I think it is very timely to consider the recognizing of some crypto units as financial instruments during the upcoming meeting of the Financial Stability Council,” Timur Khromayev wrote on his Facebook page. He also insisted that the body should lay out approaches to regulating crypto-related activities and initiate corresponding legislative procedures. As more and more countries start to regulate cryptocurrencies, the value will start to increase as well.
Reason for the trading strategy (technically):
BTCUSD is approaching resistance at 9475 (50% Fibonacci retracement, horizontal overlap resistance) where we expect price to reverse off from, causing it to fall to its support at 8894 (100% Fibonacci extension, horizontal swing low support).
Stochastic (21, 5, 3) is approaching resistance at 92% where a corresponding reaction is expected.

MEX_Exchange · May 11, 2018, 4:19am

Date: May 11th, 2018

NZDUSD Reversed Off Its Resistance, Prepare For A Further Drop!
**NZDUSD reversed nicely off its resistance where we expect to see a further drop. **

Sell below 0.6978. Stop loss 0.7007. Take profit at 0.6909.
Reason for the trading strategy (technically):
NZDUSD reversed off its resistance at 0.6978 (78.6% Fibonacci retracement, 100% Fibonacci extension, 61.8% Fibonacci extension, horizontal overlap resistance) where we expect prices to fall to its support at 0.6909 (horizontal swing low support). We do have to be cautious of the intermediate support at 0.6939 (50% Fibonacci retracement, horizontal overlap support).

Stochastic (34, 5, 3) reversed off its resistance at 94% where a corresponding drop is expected.

CADCHF Is Approaching Resistance, Prepare For A Reversal
**CADCHF is approaching its resistance where we expect to see a reversal. **

Sell below 0.7908. Stop loss 0.7999. Take profit at 0.7715.
Reason for the trading strategy (technically):
CADCHF is approaching resistance at 0.7908 (100% Fibonacci extension, 61.8% Fibonacci extension, horizontal swing high resistance) where we expect to see a reversal, causing price to fall to its support at 0.7715 (23.6% Fibonacci retracement, horizontal overlap support).

Stochastic (55, 5, 3) is approaching resistance at 96% where a corresponding reversal is expected.

EURJPY Made A Bullish Exit From Descending Channel
**EURJPY made a bullish exit from its descending channel where we expect to see price rise further. **

Buy above 129.97. Stop loss at 129.31. Take profit at 131.83.
Reason for the trading strategy (technically):
EURJPY made a bullish exit from its descending channel where we look to buy on weakness at 129.97 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal swing low support). We expect price to rise to its resistance at 131.83 (61.8% Fibonacci retracement, horizontal overlap resistance). We do have to be cautious of the intermediate resistance at 130.88 (100% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap resistance).
RSI (55) shows a corresponding bullish exit of its descending line. The ichimoku cloud is showing signs of bullish pressure which contributes to our bullish bias.

BTCUSD Testing Its Support, Prepare For a Bounce!
**BTCUSD is testing its support where we expect to see a bounce. **

Buy above 8898. Stop loss at 8352. Take profit at 9740.
Reason for the trading strategy (fundamentally):
A gala held by Tipping Point, a non-profit organization that seeks to invest in efforts aimed at breaking the poverty cycle in the San Francisco Bay Area, has raised more than $14 million USD. The gala comprises the time that Tipping Point has accepted cryptocurrency donations, with the event being attended by the respective chief executive officers of Coinbase, Ripple Labs, and Pantera Capital Management. As such, the event saw attendance from many leading figures from the cryptocurrency sector. It’s a productive and worthwhile application from a nonprofit that’s driven by some of the most innovative minds in San Francisco,” said Dan Morehead, the CEO and founder of Pantera Capital Management. “I think a lot more charities will be accepting crypto in the future,” said Brian Armstrong, the CEO and co-founder of Coinbase. More and more companies and organizations are accepting cryptocurrencies as a medium of exchange which increases the value of it exponentially.
Reason for the trading strategy (technically):
BTCUSD is testing its support at 8898 (100% Fibonacci extension, 50% Fibonacci retracement, 38.2% Fibonacci retracement, 61.8% Fibonacci extension, horizontal swing low support) where we expect prices to rise to its resistance at 9740 (76.4% Fibonacci retracement). We do have to be cautious of the intermediate resistance at 9458 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap resistance).
Stochastic (21, 5, 3) is testing its support at 12% where a corresponding reaction is expected.

MEX_Exchange · May 14, 2018, 2:41am

Date: May 14th, 2018

AUDUSD Testing Its Resistance, Prepare For A Reversal
AUDUSD is testing its resistance where we expect to see a drop.

Sell below 0.7581. Stop loss 0.7623. Take profit at 0.7474.
Reason for the trading strategy (technically):
AUDUSD is testing its resistance area at 0.7581 (100% Fibonacci extension, 38.2% Fibonacci retracement, horizontal swing high resistance) where we expect to see a drop to its support at 0.7474 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support).
Stochastic (55, 5, 3) is approaching resistance at 96% where a corresponding drop it expected.

**NZDUSD Testing Its Channel Resistance, Prepare For A Drop **
**NZDUSD is testing its channel resistance where we expect to see a further drop. **

Sell below 0.6977. Stop loss 0.7007. Take profit at 0.6909.
Reason for the trading strategy (technically):
NZDUSD tested its resistance at 0.6977 (100% Fibonacci extension, 78.6% Fibonacci retracement, horizontal overlap resistance, channel resistance) where we expect to see a further drop to its support at 0.6909 (horizontal swing low support). We do have to be cautious of the intermediate support at 0.6954 (38.2% Fibonacci retracement, horizontal overlap support).

Stochastic (89, 5, 3) is approaching resistance at 93% where a corresponding drop is expected.

**EURGBP Testing Its Resistance, Prepare For A Drop **
**EURGBP reversed off its resistance where we expect to see a further drop. **

Sell below 0.8835. Stop loss at 0.8878. Take profit at 0.8768.
Reason for the trading strategy (technically):
EURGBP reversed nicely off its resistance at 0.8835 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance) where we expect price to fall to its support at 0.8768 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support).
RSI (34) reacted off its descending resistance line which contributes to our bearish bias.

BTCUSD Testing Its Resistance, Prepare For A Further Drop
**BTCUSD is testing its resistance where we expect to see a further drop. **

Sell below 8699. Stop loss at 9023. Take profit at 8208.
Reason for the trading strategy (fundamentally):
Pakistan’s experience with cryptocurrencies offers another example of how ineffective financial authorities can be when trying to fill a legal vacuum with prohibitive administrative measures. Central banks often forget they are neither parliaments, nor governments, and their regulatory overreach cannot legitimately substitute the normal legal process. The recent decision of the State Bank of Pakistan to ban crypto-related activities proves that observation. If anything, the State Bank has barred commercial banks and financial firms from dealing in cryptocurrency which, of course, makes life harder for local exchanges. Individual traders, however, are finding alternative ways to acquire or sell cryptocurrencies, defying the warnings and the prohibitions. Although some countries have placed restrictive measures on cryptocurrencies, this may not stop individuals from trading it.
Reason for the trading strategy (technically):
BTCUSD is testing its resistance at 8699 (100% Fibonacci extension, 38.2% Fibonacci retracement, 23.6% Fibonacci retracement) where we expect to see price reverse and fall to its support at 8208 (50% Fibonacci retracement, horizontal overlap support).
Stochastic (21, 5, 3) reversed nicely off its intermediate resistance at 88% where a corresponding drop is expected.