☆ Daily Technical Analysis by MEX Exchange ☆

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.

MEX_Exchange · April 13, 2018, 2:54am

Date: April 13, 2018

AUDJPY Approaching Resistance, Prepare For a Reversal
**AUDJPY is approaching its major resistance where we expect a reaction. **

Sell below 83.56 Stop loss at 84.11. Take profit at 82.66.
Reason for the trading strategy (technically):
AUDJPY is approaching its resistance at 83.56 (100% Fibonacci extension, 61.8% Fibonacci extension, 76.4% Fibonacci retracement) where we expect price to react off it, causing it to push down all the way to its support at 82.66 (50% Fibonacci retracement, horizontal overlap support).
Stochastic (89, 5, 3) is approaching its resistance at 97% where we expect to see a corresponding reaction.

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

Sell Below 0.7378. Stop loss at 0.7436. Take profit at 0.7261.
Reason for the trading strategy (technically):
NZDUSD is testing its resistance at 0.7378 (100% Fibonacci extension, 78.6% Fibonacci retracement), where we expect to see a reaction, causing price to drop to its support at 0.7261 (61.8% Fibonacci extension, 100% Fibonacci extension, 50% Fibonacci retracement, 61.8% Fibonacci retracement, horizontal overlap support). We do need to be cautious of the intermediate support at 0.7319 (61.8% Fibonacci extension, 100% Fibonacci extension, 50% Fibonacci retracement, 38.2% Fibonacci retracement, horizontal overlap support).
Stochastic (55, 5, 3) is approaching its resistance at 97% where we expect to see a corresponding reaction. Bearish divergence with price has also been identified which contributes to our bearish bias.

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

Sell below 0.7777. Stop loss at 0.7813. Take profit at 0.7725.
Reason for the trading strategy (technically):
AUDUSD is approaching its resistance at 0.7777 (61.8% Fibonacci extension, 50% Fibonacci retracement, 38.2% Fibonacci retracement, horizontal overlap support) where we expect to see a reversal, pushing price down to its support at 0.7725 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, 38.2% Fibonacci retracement, horizontal overlap support).
Stochastic (89, 5, 3) is approaching its resistance at 96% where we expect to see a corresponding reaction.

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

Sell below 8349. Stop loss at 9103. Take profit at 6426.
Reason for the trading strategy (fundamentally):
While market uncertainty has persisted for weeks, a few experts have felt bold enough to pop their heads above the parapet and predict the worst is over. On Monday, Crypto Asset Management’s Timothy Enneking asserted that the bear market has largely run its course. On crypto Twitter, many traders are also cautiously optimistic. For the first time in a long time, they’ve actually begun sharing calls with their followers, something they’d hither to been hesitant to do. This could mean the end of a bear market for cryptocurrencies as investors’ confidence improves.
Reason for the trading strategy (technically):
We see price testing its descending resistance line where we look to sell on strength at 8349 (100% Fibonacci extension, 38.2% Fibonacci retracement). We expect prices 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.

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.