☆ Daily Technical Analysis by MEX Exchange ☆

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.

MEX_Exchange · May 15, 2018, 2:46am

Date: May 15th, 2018

EURUSD Tested Its Major Resistance, Remain Bearish
EURUSD tested its major resistance and reversed nicely off it, we expect to see a further drop to its support.

Sell below 1.1991. Stop loss 1.2066. Take profit at 1.1829.
Reason for the trading strategy (technically):
EURUSD reversed nicely off its resistance at 1.1991 (23.6% Fibonacci retracement, 23.6% Fibonacci retracement, 100% Fibonacci extension, horizontal overlap resistance) where we look to sell on strength. We expect prices to fall to its support at 1.1829 (horizontal swing low support) but have to be careful of the intermediate support at 1.1891 (61.8% Fibonacci retracement, horizontal overlap support).
Stochastic (89, 5, 3) reversed nicely off its resisance at 97% where it has a lot of downside potential.

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

Sell below 86.06. Stop loss 87.69. Take profit at 83.36.
Reason for the trading strategy (technically):
CADJPY is approaching resistance at 86.06 (61.8% Fibonacci retracement, 50% Fibonacci retracement, horizontal overlap resistance) where we expect price to fall to its support at 83.36 (50% Fibonacci retracement, horizontal overlap support). We do have to be cautious of the intermediate support at 83.91 (38.2% Fibonacci retracement, horizontal swing low support).

Stochastic (89, 5, 3) is approaching resistance at 97%. We have also identified a bearish divergence with price which contributes to our bearish bias.

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

Sell below 82.85. Stop loss at 83.41. Take profit at 81.727.
Reason for the trading strategy (technically):
AUDJPY is approaching its resistance at 82.85 (61.8% Fibonacci retracement, 61.8% Fibonacci retracement, horizontal swing high resistance) where we expect price to reverse, causing it to fall to its support at 81.727 (61.8% Fibonacci retracement, horizontal overlap support).

Stochastic (89, 5, 3) is approaching its resistance at 96% where a corresponding reversal is expected. We have also identified a bearish divergence with price 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 8900. Stop loss at 9340. Take profit at 8208.
Reason for the trading strategy (fundamentally):
“Blockchain has the potential to completely revolutionize what’s across the border.” Speaking at CoinDesk’s Consensus 2018 in New York today, Fred Smith, chairman and CEO of the U.S. logistic giant FedEx, doubled down on his commitment to embracing blockchain technology as a way for the decades-old company to maintain its game in a rapidly changing digital world. Smith explained that one major issue that the logistic and transportation industry has faced is the “massive amount of friction” in cross-border logistics, since different countries have different standards, regulations and terminologies. “For cross-border shipments, ‘trust’ is legal requirement for every transaction. What blockchain has is a potential for the first time ever to make the information available for everybody.” He therefore concludes that everyone should adopt new technology like blockchain or be at risk of disruption.
Reason for the trading strategy (technically):
BTCUSD is testing its resistance at 8900 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, 38.2% Fibonacci retracement, horizontal overlap resistance) 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. We have also identified a bearish divergence with price which contributes to our bearish bias.

MEX_Exchange · May 16, 2018, 2:22am

Date: May 16, 2018

USDJPY Rose Perfectly To Our Profit Target, Remain Bullish
USDJPY bounced off our channel support perfectly and reached our profit target. Look to buy on weakness.

Buy above 109.98. Stop loss at 109.61. Take profit at 110.86.
Reason for the trading strategy (technically):
Price has shot up perfectly to our profit target after bouncing above our channel support. We now look to buy on weakness to play the further channel strength on USDJPY. Our major support buying level is at 109.98 (Fibonacci retracement, horizontal overlap support, Fibonacci extension) and we look for the bounce above this level for price to rise to 110.86 resistance (Major 61.8% Fibonacci retracement).
RSI (89) has made a beautiful bullish exit signalling that further upside momentum is expected.

NZDUSD Reached Profit Target Perfectly, Prepare For A Bounce
NZDUSD has dropped perfectly to our profit target and is now testing channel lower limit support.

Buy above 0.6855. Stop loss at 0.6829. Take profit at 0.6905.
Reason for the trading strategy (technically):
Price has dropped perfectly to our profit target and we’re now seeing major support at 0.6855 (channel lower limit support, horizontal swing low support). We expect a bounce to occur at this level to push price up to major resistance at 0.6905 resistance (Fibonacci retracement, Fibonacci extension, horizontal pullback resistance).
RSI (89) sees major support above 36% where a corresponding bounce could occur.

Bitcoin Dropping Perfectly, Remain Bearish For A Further Drop
BTCUSD has reacted perfectly off our resistance, remain bearish for a further drop if it breaks major support.

Sell below 8351. Stop loss at 8601. Take profit at 7827.
Reason for the trading strategy (fundamentally):
The big news surrounding cryptocurrencies is that eToro, the social investing platform, is launching a full-fledged cryptocurrency exchange and mobile wallet for the US. It has opened the waiting list for people in the US who want to trade bitcoin, Ethereum, XRP, dash, bitcoin cash, stellar, Ethereum classic, NEO and EOS. This is a good news for cryptocurrency as it would no doubt increase the liquidity across the board. It is also a good sign that the trading of cryptocurrencies are starting to be more widely accepted in the most respected trading circles.
Reason for the trading strategy (technically):
Price has reacted perfectly from our selling area yesterday and is dropping nicely. We remain bearish looking to sell below major resistance at 8351. This requires a break of our short term ascending support and swing low support to trigger a strong move down to major support at 7827 (Fibonacci retracement, horizontal overlap support). We do have to be wary of intermediate support at 8200 (Fibonacci retracement, horizontal swing low support).
RSI (89) remains under strong bearish pressure from our descending resistance line.

MEX_Exchange · May 17, 2018, 3:02am

Date: May 17, 2018

USDJPY Bounced Perfectly, Remain Bullish For A Further Rise
USDJPY bounced perfectly above our buying level as expected and looks poised to rise further in this bullish channel.

Buy above 109.98. Stop loss at 109.61. Take profit at 110.86.
Reason for the trading strategy (technically):
Price has made a pullback to our buying level and bounced off perfectly as it continues its way towards our profit target. Our major support buying level is at 109.98 (Fibonacci retracement, horizontal overlap support, Fibonacci extension) and we remain bullish above this level for price to rise to 110.86 resistance (Major 61.8% Fibonacci retracement).
RSI (89) has made a pullback to our RSI and bounced off perfectly too.

NZDUSD Profit Target Reached Perfectly, Prepare For A Drop
NZDUSD has once again reached our profit target perfectly. We now prepare for a drop.

Sell below 0.6905. Stop loss at 0.6935. Take profit at 0.6855.
Reason for the trading strategy (technically):
Price shot up perfectly and reached our profit target. We prepare to sell below major resistance at 0.6905 (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) for a drop towards major support at 0.6855 (Fibonacci extension, horizontal swing low support).
Stochastic (89,5,3) is seeing major resistance below 90% where a corresponding reaction could occur.

Bitcoin Right On Sell Entry, Remain Bearish
BTCUSD has made a pullback to our sell entry resistance, we remain bearish expecting a drop from here.

Sell below 8351. Stop loss at 8601. Take profit at 7827.
Reason for the trading strategy (fundamentally):
Jack Dorsey, the CEO of Square, who previously predicted bitcoin’s future dominance back in March believes that bitcoin will become the default currency of the internet. His company believes in the vision of open access that bitcoin inspires. This is definitely good news for bitcoin as more companies are trying to make bitcoin not only the native internet currency, but one that is so widely accepted that a guy can “walk over to the Blue Bottle across the street and buy a cup of coffee with bitcoin without the transaction looking any different than a regular dollar-denominated payment”.
Reason for the trading strategy (technically):
Price has made a pullback to our sell entry resistance. We remain bearish looking to sell below major resistance at 8351. We can see intermediate support at 8200 which needs to be broken to open a further confirmation on the drop to major support at 7827 (Fibonacci retracement, horizontal overlap support). 1
RSI (89) remains under strong bearish pressure from our descending resistance line.

MEX_Exchange · May 18, 2018, 2:09am

Date: May 18, 2018

AUDJPY Right On Major Resistance, Time To Sell
AUDJPY is testing major resistance and looks poised to drop strongly!

Sell below 83.35. Stop loss at 84.02. Take profit at 82.25.
Reason for the trading strategy (technically):
Price is testing major resistance at 83.35 (Fibonacci extension, Fibonacci retracement, horizontal overlap resistance, bearish divergence, descending resistance) and a strong reaction from here would push prices down to major support at 82.25 (Fibonacci retracement, horizontal swing low support, Fibonacci extension).
Stochastic (55,5,3) sees major resistance below 96% where a corresponding reaction could occur. We are also seeing bearish divergence vs price signalling that a reversal is impending.

GBPJPY Setting Up Nicely For A Plunge
GBPJPY is right on major resistance and is setting up nicely for a plunge from here.

Sell below 149.86. Stop loss at 150.76. Take profit at 147.14.
Reason for the trading strategy (technically):
Price is seeing major resistance below 149.86 (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) and a strong drop from here could push prices all the way down to major support at 147.14 (Fibonacci extension, horizontal swing low support, Fibonacci extension).
Stochastic (55,5,3) is seeing major resistance at 94% where a corresponding reaction could occur.

Bitcoin Dropping Perfectly, Prepare For A Corrective Bounce
BTCUSD has been dropping absolutely perfectly as expected. We prepare for a potential corrective bounce.

Buy above 7648. Stop loss at 7475. Take profit at 8103.
Reason for the trading strategy (fundamentally):
Cryptocurrency continues to take the limelight for all the wrong reasons in China as yet another cryptocurrency project has been busted by law enforcements for allegedly soliciting money from investors with fraudulent claims. It defrauded over 3,000 investors out of $47 million by selling a Pu’er coin. This is just the latest of numerous crackdowns on alleged cryptocurrency fraud in China. This, as a whole, has continued to cast a negative light on cryptocurrencies with many investors constantly being tricked and manipulated.
Reason for the trading strategy (technically):
Price is dropping perfectly as expected and is fast approaching major support area at 7648 (Fibonacci retracement, Fibonacci extension, horizontal swing low support) and a bounce could occur at this level pushing prices up to our profit target at 8103 (Fibonacci retracement, horizontal pullback resistance).
Stochastic (55,5,3) is seeing major support above 10% where a corresponding bounce could occur.

MEX_Exchange · May 21, 2018, 2:31am

Date: May 21st, 2018

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

Buy above 1285.81. Stop loss 1278.29. Take profit at 1301.99.
Reason for the trading strategy (technically):
XAUUSD dropped nicely to our support at 1285.81 (horizontal swing low support, 61.8% Fibonacci retracement, 61.8% Fibonacci extension) where we look to buy on weakness. We expect price to rise to its resistance at 1301.99 (horizontal pullback resistance, 23.6%, 38.2% Fibonacci retracement).
Stochastic (55,5,3) is also seeing a bullish divergence and is approaching our support where a bounce off this level will be a good precursor for a potential rise in price.

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

Sell below 0.6931. Stop loss at 0.6960. Take profit at 0.6852.
Reason for the trading strategy (technically):
NZDUSD is approaching its resistance at 0.6931 (horizontal swing high resistance, 61.8% Fibonacci extension, 61.8% Fibonacci retracement) where we expect price to reverse, causing it to fall to its support at 0.6852 (horizontal swing low support, 61.8% Fibonacci extension).

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

BTCUSD Testing Its Support, Prepare For A Further Rise!
BTCUSD is testing its support where we expect a further rise.

Buy above 8442.0. Stop loss at 8161.6 Take profit at 8879.1.
Reason for the trading strategy (fundamentally):
“In what is either widely being referred to as a case of communist schizophrenia or a passive nod to the inevitable financial future, the PRC’s CCID released its first set of cryptocurrency rankings.” Mr. Zhao hoped the CCID effort signals a kind of new opening. “I believe at least it’s a sign that the officials are starting to treat crypto projects more like a neutral endeavour towards better technology and innovations, rather than just challenging the power and authority of banks and government,” he stressed. We can see that China are becoming more welcome to the idea of blockchain technologies, even ranking BTC quite highly at number 13 out of 28.

Reason for the trading strategy (technically):
BTCUSD is testing its support at 8442.0 (horizontal pullback support, 23.6% Fibonacci retracement) and broke out of its short-term descending resistance-turned-support line where we expect to see price bounce off this support and rise to its resistance at 8879.1 (horizontal overlap resistance, 50% Fibonacci retracement).
RSI (55) is also seeing a bullish exit, in line with our bullish bias.

MEX_Exchange · May 22, 2018, 4:34am

Date: May 22nd, 2018

GBPUSD Broke Major Support, Prepare For A Plunge
**GBPUSD has broken major support triggering a strong drop from here. **

Sell below 1.3469. Stop loss 1.3652. Take profit at 1.3026.
Reason for the trading strategy (technically):
GBPUSD broke out of our support-turned-resistance at 1.3469 (horizontal overlap support, 38.2% Fibonacci retracement) where we look to sell on strength. We expect price to drop to its support at 1.3026 (horizontal swing low support, 61.8% Fibonacci retracement). Ichimoku cloud is also showing signs of bearish bias, in line with our bearish bias.
RSI (55) is seeing a bearish exit in line in line with our bearish view.

GBPJPY Broke Out Of Support, Prepare For Strong Drop
GBPJPY broke out of our ascending support triggering a big drop from here.

Sell below 149.13. Stop loss at 149.65. Take profit at 148.18.
Reason for the trading strategy (technically):
GBJPY broke out of its short term ascending support line and has reacted off its resistance at 149.13 (horizontal overlap resistance, 23.6%, 50% Fibonacci retracement). We expect price to drop further to its support at 148.20 (horizontal swing low support, 76.4% Fibonacci retracement). Ichimoku cloud is also showing signs of bearish pressure.

RSI (89) is seeing a bearish exit in line with our bearish view.

BTCUSD Approaching Resistance, Prepare For A Drop
BTCUSD is testing its support where we expect a further rise.

Sell below 8475. Stop loss at 8702. Take profit at 8067.
Reason for the trading strategy (fundamentally):
LMAX Exchange Group, which operates a UK Financial Conduct Authority (FCA) regulated FX trading venue, has announced today a physical cryptocurrency exchange dedicated to serving only institutional clients. The company says it developed LMAX Digital at the request of its existing clients who asked for a credible, efficient and trusted platform to trade with like-minded institutions. “The rise of institutional trading of crypto currencies will be a game-changer for the industry. We believe our new exchange will support the transformation of the crypto market from the fringes to the mainstream. Digital currencies are, without a doubt, coming of age. Exchanges will play a crucial role in bringing the major crypto currencies into wider circulation, helping them to become accepted into conventional funds which in turn will help to support a normalisation of value,” the CEO of LMAX Exchange, David Mercer added.

Reason for the trading strategy (technically):
BTCUSD is approaching its resistance at 8475.2 (horizontal overlap resistance, 61.8% Fibonacci retracement) where we expect price to fall to its support at 8067.0 (horizontal swing low support, 61.8% Fibonacci extension, 78.6% Fibonacci retracement).
RSI (34) is also reacting off its resistance where we can expect a corresponding drop in price.

MEX_Exchange · May 23, 2018, 7:24am

Date: May 23rd, 2018

**USDCHF Approaching Resistance, Prepare For A Plunge **
USDCHF is approaching resistance where we can expect a strong drop.

Sell below 0.9951. Stop loss 0.9992. Take profit at 0.9856.
Reason for the trading strategy (technically):
USDCHF is approaching our resistance at 0.9951 (horizontal pullback resistance, 23.6% Fibonacci retracement) and we expect price to drop below this level to our support at 0.9856 (horizontal pullback support, 23.6% Fibonacci retracement) which coincides with our short term ascending support line.
RSI (89) is approaching its resistance and a reaction off this level is a good precursor for a drop in price.

GBPJPY Broke Out Of Support, Watch For A Further Drop
**GBPJPY broke out of support where we are expecting a further drop. **

Sell below 148.46. Stop loss 148.94. Take profit at 147.72.
Reason for the trading strategy (technically):
GBPJPY broke out of our short term ascending support line and is approaching our resistance at 148.46 (Horizontal overlap resistance, 23.6% Fibonacci retracement) where we expect a further below this level to our support at 147.72 (horizontal swing low support, 78.6% Fibonacci retracement).

RSI (89) is also seeing a bearish exit in line with our bearish view.

AUDUSD Broke Out Of Support, Prepare For Strong Drop
AUDUSD broke out of its support-turned-resistance, triggering a big drop from here.

Sell below 0.7567. Stop loss at 0.7608. Take profit at 0.7489.
Reason for the trading strategy (technically):
AUDUSD broke out of its support-turned-resistance at 0.7567 (horizontal pullback resistance, breakout level, 38.2% Fibonacci retracement) where we expect price to drop to its support at 0.7489 (horizontal swing low support, 61.8%, 76.4% Fibonacci retracement).

RSI is also seeing a bearish exit in line with our bearish bias.

**BTCUSD Approaching Support, Prepare For A Bounce **
BTCUSD is approaching its support where we expect a bounce above this level.

Buy above 7820. Stop loss at 7518. Take profit at 8565.
Reason for the trading strategy (fundamentally):
Iranian and Russian lawmakers are jointly examining the idea of using cryptocurrency to bypass international and American sanctions. Mohammad-Reza Pourebrahimi, who chairs the Iranian Parliamentary Commission for Economic Affairs, raised the idea during a recent meeting in Moscow with Dmitry Mezentsev, the Chair of the Federation Council Committee on Economic Policy. He explained that the Russians “share our opinion. We said that if we manage to move this work forward, then we will be the first countries that use digital currencies in the exchange of goods.”

Reason for the trading strategy (technically):
BTCUSD is approaching its support at 7820 (horizontal swing low support, 61.8% Fibonacci retracement, 100% Fibonacci extension) where we expect price to bounce off and rise to its resistance at 8565 (horizontal swing high resistance, 38.2%, 61.8% Fibonacci retracement, 100% Fibonacci extension).
Stochastic (21,5,3) is also approaching support and a bounce off this level will see a corresponding rise in price.

MEX_Exchange · May 24, 2018, 7:00am

Date: May 24th, 2018

EURCHF Approaching Resistance, Prepare For A Drop
EURCHF is approaching resistance where we can expect a strong drop.

Sell below 1.1653. Stop loss 1.1685. Take profit at 1.1583.
Reason for the trading strategy (technically):
EURCHF is approaching its resistance at 1.1653 (horizontal pullback resistance, 23.6%, 38.2% Fibonacci retracement) and we expect price to drop to its major support at 1.1583 (horizontal swing low support, 76.4% Fibonacci retracement) which coincides with the long term ascending support line.
RSI (34) is also approaching its resistance, and Ichimoku cloud is also showing signs of bearish pressure, in line with our bearish bias.

GBPJPY Approaching Resistance, Prepare For A Plunge
**GBPJPY is approaching resistance where we are expecting a further drop. **

Sell below 147.04. Stop loss 147.65. Take profit at 145.05.
Reason for the trading strategy (technically):
GBPJPY is approaching our resistance at 147.04 (Horizontal overlap resistance, 23.6% Fibonacci retracement) where we expect a further below this level to our support at 145.05 (horizontal swing low support). We do have to be cautious of our intermediate support at 145.96 (horizontal overlap support, 100% Fibonacci extension).

RSI (21) is also seeing a bearish exit and Ichimoku cloud is showing signs of bearish pressure, in line with our bearish view.

**BTCUSD Approaching Support, Prepare For A Bounce **
BTCUSD is approaching its support where we expect a bounce above this level.

Buy above 7492. Stop loss at 7190. Take profit at 8641.
Reason for the trading strategy (fundamentally):
John McAfee expects a bull run on cryptocurrency markets in the near future. Billions will be pumped by institutional investors, the internet security expert predicted in a post on the microblogging platform Twitter this week. McAfee claims this will lead to significant changes in the market capitalizations of the leading cryptocurrencies, but also those of most altcoins.
“Institutional investors are preparing to enter the cryptocurrency market with a vengeance,” McAfee said in his tweet. He explained that they are generally long-term investors that will spend billions on the market. “Expect the top ten coins to go through the roof fairly quickly. The bulk of altcoins will soon follow,” the software guru wrote.

Reason for the trading strategy (technically):
BTCUSD is approaching its support at 7492 (horizontal pullback support, 61.8% Fibonacci extension) where we expect price to bounce off and rise to its resistance at 8641(horizontal swing high resistance, 50% Fibonacci retracement).
Stochastic (55,5,3) is also approaching support and is seeing a bullish divergence in line with our bullish bias.

MEX_Exchange · May 25, 2018, 3:17am

Date: May 25th, 2018

XAUUSD Testing Resistance, Prepare For A Drop
XAUUSD is testing resistance where we can expect a strong drop.

Sell below 1303.25. Stop loss 1310.66. Take profit at 1282.11.
Reason for the trading strategy (technically):
XAUUSD is approaching its resistance at 1303.25 (horizontal pullback resistance, 23.6%, 50% Fibonacci retracement, 100% Fibonacci extension) which coincides with its short term descending resistance line and we expect price to drop to its major support at 1282.11 (horizontal swing low support, 61.8% Fibonacci extension).
Stochastic (34,5,3) is also approaching its resistance, in line with our bearish bias.

USDCAD Approaching Resistance, Prepare For A Plunge
**USDCAD is approaching resistance where we are expecting a drop. **

Sell below 1.2929. Stop loss 1.2979. Take profit at 1.2825.
Reason for the trading strategy (technically):
USDCAD is approaching our resistance at 1.2929 (Horizontal swing high resistance, 76.4% Fibonacci retracement, 61.8% Fibonacci retracement) where we expect a drop below this level to our support at 1.2825 (horizontal swing low support).

Stochastic (55,5,3) is seeing a bearish divergence and approaching resistance where a reaction off this level will see a corresponding drop in price.

**BTCUSD Approaching Support, Prepare For A Bounce **
BTCUSD is approaching its support where we expect a bounce above this level.

Buy above 7492. Stop loss at 7190. Take profit at 8641.
Reason for the trading strategy (fundamentally):
Multiple regional news outlets and individuals on social media have reported that the Zimbabwe High Court has lifted the RBZ ban against cryptocurrency activities taking place within the country. The local digital asset exchange Golix decided to take the case to the High Court stating the RBZ had no right to enforce such laws and only the country’s parliament can issue a financial ban. The news brought relief to bitcoin and other crypto traders and investors in Zimbabwe who were now unable to trade on an exchange platform. Golix runs an online crypto exchange platform as a well as a bitcoin ATM in central Harare.

Reason for the trading strategy (technically):
BTCUSD is approaching its support at 7492 (horizontal pullback support, 61.8% Fibonacci extension) which coincides with our long term ascending support line. We expect price to bounce off and rise to its resistance at 8641(horizontal swing high resistance, 50% Fibonacci retracement).
Stochastic (55,5,3) is also approaching support and is seeing a bullish divergence in line with our bullish bias.

MEX_Exchange · May 28, 2018, 3:26am

Date: May 28th, 2018

USDCAD Approaching Resistance, Prepare For A Drop
USDCAD is approaching resistance where we can expect a strong drop.

Sell below 1.2986. Stop loss 1.3021. Take profit at 1.2896.
Reason for the trading strategy (technically):
USDCAD is approaching its resistance at 1.2986 (horizontal swing high resistance, 786% Fibonacci retracement, 100% Fibonacci extension) we expect price to drop to its major support at 1.2896 (horizontal pullback support, 38.2% Fibonacci retracement).
Stochastic (55,5,3) is also approaching resistance where we will see a corresponding drop in price.

NZDJPY Approaching Resistance, Watch For Breakout!
**NZDJPY is approaching resistance, watch for a breakout! **

Buy above 76.06. Stop loss 75.76. Take profit at 76.69.
Reason for the trading strategy (technically):
NZDJPY is approaching our resistance at 76.06 (Horizontal overlap resistance) where we expect a breakout above this level to our resistance at 76.69 (horizontal swing high resistance, 61.8% Fibonacci retracement, 100% Fibonacci extension, double bottom exit potential).

RSI (89) is also approaching support and a bounce off this level will see a corresponding rise in price.

**BTCUSD Approaching Support, Prepare For A Bounce **
**BTCUSD is approaching its support where we expect a bounce above this level. **

Buy above 7213. Stop loss at 6986. Take profit at 7922.
Reason for the trading strategy (fundamentally):
This week, a number of companies listed on the Tokyo Stock Exchange revealed their plans to enter the crypto exchange business for the first time. They include one of the most popular budget-managing app operators, an entertainment conglomerate, one of the largest music labels, and a medical corporation. These corporations join other public companies that previously announced their plans to launch crypto exchanges such as SBI Group, Line Corp, and Yahoo! Japan. Japan currently has 16 fully licensed crypto exchanges. Another eight exchanges‘ applications are being reviewed by the FSA. Furthermore, the agency revealed recently that about 100 more companies are interested in entering the space including Line Corp and Yahoo! Japan.
Reason for the trading strategy (technically):
BTCUSD is approaching its support at 7213 (horizontal overlap support, 78.6% Fibonacci retracement) where we expect price to bounce off and rise to its resistance at 7922 (horizontal pullback resistance, 23.6%, 50% Fibonacci retracement, 100% Fibonacci extension).
Stochastic (21,5,3) is also seeing a bullish divergence in line with our bullish bias.

MEX_Exchange · May 29, 2018, 3:08am

Date: May 29th, 2018

EURAUD Approaching Resistance, Prepare For A Drop
EURAUD is approaching resistance where we can expect a strong drop.

Sell below 1.5502. Stop loss 1.5621. Take profit at 1.5270.
Reason for the trading strategy (technically):
EURAUD is approaching its resistance at 1.5502 (horizontal overlap resistance, 23.6% Fibonacci retracement) where we expect price to drop to its major support at 1.5270 (horizontal swing low support). Ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias.
RSI (89) is also approaching its resistance line and a reaction off this level will see a corresponding drop in price.

EURGBP Approaching Resistance, Prepare For A Plunge
**EURGBP is approaching resistance where we expect a strong drop below this level. **

Sell below 0.8740. Stop loss 0.8752. Take profit at 0.8718.
Reason for the trading strategy (technically):
EURGBP is approaching our resistance at 0.8740 (Horizontal overlap resistance, 23.6% Fibonacci retracement) where we expect price to drop below this level to our major support at 0.8718 (horizontal swing low support, 61.8% Fibonacci extension).

RSI (55) is also seeing a bearish exit, in line with our bearish bias.

**BTCUSD Testing Resistance, Prepare For Further Drop **
**BTCUSD is testing resistance where we expect a further drop. **

Sell below 7174. Stop loss at 7472. Take profit at 6629.
Reason for the trading strategy (fundamentally):
South Korea’s largest cryptocurrency exchange Bithumb has announced that it will block trading in 11 countries as part of its revised internal regulations aimed to prevent money laundering using its system. Foreign users will also need to undergo a stricter verification process. To prevent the inflow of funds relating to “international terrorism and crime,” users from NCCT countries “shall be blocked,” Bithumb wrote, adding that new members from these countries will not be accepted and existing members will be blocked from the 21st. Bithumb says it is self-enforcing these strict rules to foster the transparent cryptocurrency market and investor protection. “We will cooperate with the government” and follow self-regulatory measures based on the policies introduced by the Korean Blockchain Association, the exchange emphasized. The Korean Blockchain Association is spearheading self-regulation among crypto exchanges in the country. Bithumb’s revised internal regulations reflect “the government’s recommendations and the Korean Blockchain Association’s recommendations,” Korea Economic Daily elaborated.
Reason for the trading strategy (technically):
BTCUSD is testing our resistance at 7174 (horizontal overlap resistance) where we expect price to drop to its major support at 6629 (horizontal swing low support, 100% Fibonacci extension).
RSI (89) is also facing bearish pressure from our descending resistance line.