☆ Daily Technical Analysis by MEX Exchange ☆

MEX_Exchange · May 30, 2018, 2:51am

Date: May 30th, 2018

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

Sell below 0.7610. Stop loss 0.7679. Take profit at 0.7480.
Reason for the trading strategy (technically):
CADCHF is testing its resistance at 0.7610 (horizontal pullback resistance, 23.6% Fibonacci retracement) where we expect price to drop to its major support at 0.7480 (horizontal swing low support, 61.8% Fibonacci retracement, 61.8% Fibonacci extension). Ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias.
RSI (55) is also approaching resistance where we will see a corresponding drop in price.

GBPJPY Approaching Support, Watch For A Bounce
GBPJPY is approaching support where we expect a bounce.

Buy above 143.08. Stop loss 141.21. Take profit at 146.20.
Reason for the trading strategy (technically):
GBPJPY is approaching our support at 143.08 (Horizontal overlap support, 78.6% Fibonacci retracement, 100% Fibonacci extension) where we expect price to bounce above this level to our resistance at 146.20 (horizontal pullback resistance, 100% Fibonacci extension, 50% Fibonacci retracement).
Stochastic (55,5,3) is also seeing a bullish divergence and is approaching its support where a bounce off this level will see a corresponding rise in price.

**BTCUSD Approaching Resistance, Watch For Breakout **
BTCUSD is approaching its resistance where we are expecting a breakout

Buy above 7788. Stop loss at 7608. Take profit at 8508.
Reason for the trading strategy (fundamentally):
South African investment management firm, Sygnia, has announced that it plans to launch a cryptocurrency exchange by Q4, 2018. Sygnia Ltd. currently manages ZAR 184 billion (approximately $14.7 billion USD) worth of assets and has offices in Cape Town, Johannesburg and Durban. Sygnia claims to currently employ over 175 staff, and manage the assets of over 6,000 individual clients, and 600 international clients. Magda Wierzycka, the chief executive officer of Sygnia stated “We aim to launch SygniaCoin, a cryptocurrency exchange, in the third quarter of 2018. The cryptocurrency market is evolving at a rapid pace internationally and domestically, and is attracting both domestic and international flows.” Mrs. Wierzycka described the move as comprising one of “a number of new strategic initiatives that will position Sygnia for the evolving digital future, as well as help its new business development and distribution efforts.”“With its fintech focus, Sygnia is well-positioned to become the first major financial services institution to embrace cryptocurrencies and to offer investors a secure trading and execution platform backed by an international infrastructure, well-designed custody, and integration with standard savings products,” Mrs. Weirzycka stated.
Reason for the trading strategy (technically):
BTCUSD is approaching its resistance at 7788 (horizontal pullback resistance, 23.6% Fibonacci retracement, 100% Fibonacci extension, short term descending resistance line) where a breakout above that level will push price up to our major resistance at 8508 (horizontal swing high resistance, 50% Fibonacci retracement). Ichimoku cloud is also showing signs of bullish pressure in line with our bullish bias. RSI (21) is also seeing a bullish exit where we will see a corresponding rise in price.

MEX_Exchange · May 31, 2018, 7:20am

Date: May 31st, 2018

EURGBP Tested Major Resistance, Prepare For A Drop!
EURGBP tested its major resistance where we expect to see a further drop.

Sell below 0.8787. Stop loss 0.8830. Take profit at 0.8724.
Reason for the trading strategy (technically):
EURGBP tested its major resistance at 0.8787 (61.8% Fibonacci retracement, 61.8% Fibonacci retracement, 100% Fibonacci extension, descending resistance line) where we expect to see price fall to its support at 0.8699 (horizontal swing low support). We do have to be cautious of the intermediate support at 0.8724 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support).
Stochastic (55, 5, 3) tested its resistance at 98% where a corresponding drop is expected.

AUDNZD Bounced Nicely Off Its Support, Prepare For A Rise!
AUDNZD bounced nicely off its support where we expect to see it rise further.

Buy above 1.0818. Stop loss at 1.0746. Take profit at 1.0940.
Reason for the trading strategy (technically):
AUDNZD bounced nicely off its support at 1.0818 (50% Fibonacci retracement, 61.8% Fibonacci extension, horizontal overlap support) where we expect price to rise to its resistance at 1.0940 (100% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing high resistance).
Stochastic (55, 5, 3) shows a corresponding bounce off its support at 4.7% where we expect to see a rise. We have also identified a bullish divergence with price which contributes to our bullish bias.

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

Sell below 7745. Stop loss at 8194. Take profit at 7052.
Reason for the trading strategy (fundamentally):
Learning centres, courses, and crypto educational seminars are on the rise in Japan, Thailand, and South Korea. “Bitcoin no Madoguchi” and “Bit Station” have opened up to offer guidance to Japanese investors. The Cryptoasset Revolution course and Cryptonist’s seminar are happening soon in Thailand. Meanwhile, Decenter University and Koscom have launched training courses in South Korea. Tokyo’s “Bitcoin no Madoguchi” explains on its website that, ‘You can receive explanations and guidance about virtual currencies for free from the concierge at a real store so that novice investors in virtual currency can enjoy bitcoins and altcoins easily.’ With more and more people getting educated about bitcoin, we can be sure that the demand and thus value of bitcoin will rise.
Reason for the trading strategy (technically):
BTCUSD is being held down by a long- term descending resistance line where we look to sell on strength at 7745 (100% Fibonacci extension, 100% Fibonacci extension, 23.6% Fibonacci retracement). We expect price to push down to its support at 7052 (horizontal swing low support).
RSI (55) is held down by a corresponding descending resistance line which contributes to our bearish bias.

MEX_Exchange · June 1, 2018, 5:04am

Date: June 1st, 2018

USDCHF Testing Support, Watch For A Breakout
**USDCHF is testing support where we expect a breakout below this level. **

Sell below 0.9848. Stop loss 0.9893. Take profit at 0.9731.
Reason for the trading strategy (technically):
USDCHF broke out of our short term ascending support line and is testing our first support at 0.9848 (horizontal overlap support, 23.6% Fibonacci retracement) where we expect price to breakout and drop to our major support at 0.9731 (horizontal swing low support, 38.2% Fibonacci retracement). Ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias.
RSI (89) is also seeing a bearish exit along with a descending channel where we expect a further drop in price.

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NZDUSD Testing Support, Prepare For A Bounce
**NZDUSD is testing support where we expect a bounce above this level. **

Buy above 0.6982. Stop loss 0.6929. Take profit at 0.7097.
Reason for the trading strategy (technically):
NZDUSD is approaching our support at 0.6982 (horizontal overlap support, 23.6% Fibonacci retracement, double bottom exit) and we expect price to rise above this level to our resistance at 0.7097 (horizontal swing high resistance, 100% Fibonacci extension, double bottom exit potential). We do have to be cautious of our intermediate resistance at 0.7057 (horizontal overlap resistance, 38.2% Fibonacci retracement). Ichimoku cloud is also showing signs of bullish pressure in line with our bullish bias.
RSI is also approaching our resistance and a breakout above this level will see a corresponding rise in price.

**BTCUSD Approaching Resistance, Prepare For A Drop **
**BTCUSD is approaching its resistance where we are expecting a drop **

Sell below 7745. Stop loss at 7941. Take profit at 7036.
Reason for the trading strategy (fundamentally):
The enactment of Israel’s cryptocurrency regulations, originally scheduled for this Friday, has been delayed until October. Following last week’s publishing of a draft law pertaining to money laundering that included specific provisions pertaining to virtual currencies, Israel’s finance minister, Moshe, Kahlon, abruptly requested that the law not be passed until the bill is ratified. “The existing ordinance for the prohibition of money laundering will lapse with the passing of the new law. The process of installing the new law, which includes public hearings, will take time. Consequently, there will be a period in which there will be no active legal provision concerning this matter, which will lead to a lack of clarity regarding the identification and reporting obligations imposed by the order on [the] prohibition of money laundering,” Mr. Kahlon said. Manny Rosenfield, the head of the Israeli Bitcoin Association, has described the delay of the law’s passing as a significant setback for the country’s cryptocurrency industry. “The postponement of the law that deals with digital currencies will leave start-ups in the same situation and will cause a situation in which these companies will have to think twice about whether or not to stay in Israel […] This is a blow that will hamper the efforts of Israel to become a leader in a rapidly developing field of technology,” Mr. Rosenfield said.
Reason for the trading strategy (technically):
BTCUSD is approaching its resistance at 7745 (horizontal swing high resistance, 23.6% Fibonacci retracement, 100% Fibonacci extension, short term descending resistance line) where we expect price to drop below this level to our support at 7036 (horizontal swing low support). RSI (34) is also seeing a bearish divergence and is approaching its resistance where we will see a corresponding drop in price should it react off this level.

MEX_Exchange · June 4, 2018, 2:35am

Date: 4th June, 2018

USDJPY Tested Major Resistance, Prepare For A Drop!
USDJPY reversed nicely after testing its resistance, we expect it to drop further.

Sell below 109.80. Stop loss 110.28. Take profit at 109.10.
Reason for the trading strategy (technically):
USDJPY tested its resistance at 109.80 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap resistance) where we expect price to drop further to its support at 109.10 (38.2% Fibonacci retracement, horizontal overlap support).
Stochastic (55, 5, 3) tested its resistance at 97% where we expect to see a corresponding drop.

EURUSD Tested Resistance, Prepare For A Drop!
EURUSD has tested its descending channel resistance where we expect to see a further drop.

Sell below 1.1722. Stop loss at 1.1792. Take profit at 1.1536.
Reason for the trading strategy (technically):
EURUSD tested its resistance at 1.1722 (23.6% Fibonacci retracement, channel resistance, horizontal overlap resistance) where we expect price to fall to its support at 1.1536 (horizontal swing low support). We do have to be cautious of the intermediate support at 1.1612 (50% Fibonacci retracement, horizontal overlap support).

Stochastic (55, 5, 3) has reversed from its intermediate resistance at 87% where we expect to see a corresponding drop.

BTCUSD Testing Resistance, Prepare For A Reversal
**BTCUSD is testing its resistance where we expect prices to reverse. **

Sell below 7745. Stop loss at 8194. Take profit at 7052.
Reason for the trading strategy (fundamentally):
In Japan, seniors and middle-aged adults are increasingly interested in investing in cryptocurrencies. The Japanese Cryptocurrency Support Centre has launched an intensive course for seniors to help them learn and invest in cryptocurrencies. The centre reveals, “In the past, investment of stocks and FX was the mainstream. However, since 2017 virtual currencies became a topic in the news, and seniors who start investing in virtual currencies are increasing…we hold virtual currency seminars…and some participants in their 80s have participated.” With more and more people getting educated, the value and demand for cryptocurrencies will increase.
Reason for the trading strategy (technically):
BTCUSD is testing its resistance at 7745 (100% Fibonacci extension, 23.6% Fibonacci retracement, 38.2% Fibonacci retracement, 50% Fibonacci retracement, horizontal swing high resistance) where we expect price to push down to its support at 7052 (horizontal swing low support).
Stochastic (55, 5, 3) is is approaching its resistance at 91% where a corresponding reversal is expected. We have also identified a bearish divergence with price which contributes to our bearish bias.

MEX_Exchange · June 5, 2018, 2:37am

Date: 5th June, 2018

NZDUSD Approaching Resistance, Prepare For A Drop!
NZDUSD is approaching its resistance where we expect to see a reaction.

Sell below 0.7053. Stop loss 0.7102. Take profit at 0.6968.
Reason for the trading strategy (technically):
NZDUSD is approaching its resistance at 0.7053 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal swing high resistance) where we expect to see a reaction, causing price to drop to its support at 0.6968 (100% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap support)
Stochastic (89, 5, 3) reacted of its resistance at 97% where we expect to see a similar drop.

AUDNZD Tested Resistance, Prepare For A Drop!
AUDNZD reacted off its resistance where we expect to see a further drop.

Sell below 1.0890. Stop loss at 1.0966. Take profit at 1.0777.
Reason for the trading strategy (technically):
AUDNZD reversed nicely off its resistance at 1.0890 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance) where we expect price to drop to its support at 1.0777 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap support).

Stochastic (55, 5, 3) is approaching its resistance at 98% where a corresponding reaction is expected.

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

Buy above 7481. Stop loss at 7314. Take profit at 7729.
Reason for the trading strategy (fundamentally):
On Saturday, June 2 a new cryptocurrency wallet focused exclusively on bitcoin cash launched called Cashpay. The beta release is now available for Android and iOS devices but the wallet also offers an interesting feature — Cashpay comes with the ability to purchase anything from any online retailer using bitcoin cash. “Order Anything — Cashpay enables you to buy anything at any online retailer and pay with Bitcoin Cash powered by the Cryptonize.it — We also support charities worldwide by giving them a platform to promote their cause. In just a few taps you can donate to a community charity with Cashpay.” With bitcoin being used more as a medium of exchange, the value will increase or if not at least maintain.
Reason for the trading strategy (technically):
BTCUSD is testing its support at 7481 (61.8% & 38.2% Fibonacci retracement, horizontal overlap support, ascending channel support) where we expect prices to rise to its resistance at 7729 (61.8% Fibonacci extension, 38.2% & 23.6% Fibonacci retracement, horizontal swing high resistance).
Stochastic (55, 5, 3) is approaching its support at 4.6% where a corresponding bounce is expected.

MEX_Exchange · June 6, 2018, 2:34am

Date: 6h June, 2018

EURUSD Testing Resistance, Prepare For A Drop!
EURUSD is testing its resistance where we expect to see a reaction.

Sell below 1.1728. Stop loss 1.1823. Take profit at 1.1536.
Reason for the trading strategy (technically):
EURUSD is testing its resistance at 1.1728 (23.6% & 50% Fibonacci retracement, 61.8% Fibonacci extension, horizontal overlap resistance) where we expect to see a reversal, causing price to fall to its support at 1.1536 (horizontal swing low support).
Stochastic (55, 5, 3) is approaching its resistance at 92% where a corresponding reaction is expected.

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

Sell below 0.7656. Stop loss at 0.7724 Take profit at 0.7526.
Reason for the trading strategy (technically):
AUDUSD is testing its resistance at 0.7656 (61.8% & 50% Fibonacci retracement, horizontal overlap resistance) where we expect to see a reaction, causing price to fall to its support at 0.7526 (76.4% Fibonacci retracement, horizontal overlap support). We do have to be cautious of the intermediate support at 0.7591 (38.2% Fibonacci retracement, horizontal overlap support).

Stochastic (89, 5, 3) is approaching its resistance at 97% where a corresponding reaction could occur.

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

Sell below 7641. Stop loss at 7754. Take profit at 7440.
Reason for the trading strategy (fundamentally):
Vietnam’s Ministry of Finance has officially proposed that the country bans the import of cryptocurrency mining equipment. Bitcoin mining rigs are currently easily imported into Vietnam. This proposal follows the largest crypto fraud case in the country involving over $656 million and more than 32,000 victims. The ministry outlined in its report that the use of mining equipment for bitcoin, litecoin and other cryptocurrencies in the country is difficult for the authority to manage. “From there, it is easy for people to use [cryptocurrencies] as a currency or another method of payment,” the City Economic News Kinhte & Dothi quoted the ministry. “This is in violation of the amended government Decree 101 on non-cash payments,” Zing.vn conveyed. Around the world, authorities still struggle to come to terms with the legislation of cryptocurrencies which imposes a threat on the value of Bitcoin.
Reason for the trading strategy (technically):
BTCUSD is testing its resistance at 7641 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance) where we expect to see a reaction, causing price to fall to its support at 7440 (61.8% Fibonacci extension, horizontal swing low support).
Stochastic (55, 5, 3) is approaching its resistance at 90% where we expect to see a corresponding reversal.

MEX_Exchange · June 7, 2018, 3:03am

Date: 7h June, 2018

AUDJPY Testing Resistance, Prepare For A Drop!
AUDJPY is testing its resistance where we expect to see a reaction.

Sell below 84.47. Stop loss 85.51. Take profit at 81.30
Reason for the trading strategy (technically):
AUDJPY is testing its resistance at 84.47 (50$ Fibonacci retracement, 23.6% Fibonacci retracement, horizontal overlap resistance) where we expect to see a further drop to its support at 81.30 (horizontal swing low support). We do have to be cautious of the intermediate support at 82.74 (50% Fibonacci retracement, horizontal overlap support).
Stochastic ( 89, 5, 3) is testing its resistance at 97% where a corresponding reaction is expected.

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

Sell below 0.8792. Stop loss at 0.88264 Take profit at 0.8725.
Reason for the trading strategy (technically):
EURGBP is approaching its resistance at 0.8792 (76.4% Fibonacci retracement, 61.8% Fibonacci extension, horizontal overlap resistance) where we expect to see a reversal, causing price to fall to its support at 0.8725 (100% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing low support). We do have to be cautious of the intermediate support at 0.8758 (50% Fibonacci retracement, horizontal overlap support).
Stochastic (55, 5, 3) is making the same approach to its resistance at 98% where we expect to see a reaction.

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

Sell below 7738. Stop loss at 7849. Take profit at 7529.
Reason for the trading strategy (fundamentally):
On Wednesday, the head of the Securities and Exchange Commission, Jay Clayton, mentions that cryptocurrencies like bitcoin are not securities and made it clear that the agency won’t bend the rules for cryptocurrency when it comes to defining what is or what isn’t a security. “A token, a digital asset, where I give you my money and you go off and make a venture, and in return for giving you my money I say ‘you can get a return’ that is a security and we regulate that,” Clayton said. “We regulate the offering of that security and regulate the trading of that security.” Bitcoin has since begun its price descent in March, falling below $10,000 after the agency said it would require digital asset exchanges to register with the agency.
Reason for the trading strategy (technically):
BTCUSD is testing its resistance at 7738 23.6% Fibonacci retracement, horizontal swing high resistance) where we expect to see a reaction, causing price to fall to its support at 7529 (61.8% Fibonacci retracement, horizontal swing low support).
Stochastic (55, 5, 3) is approaching its resistance at 90% where we expect to see a corresponding reversal.

MEX_Exchange · June 8, 2018, 3:53am

Date: 8h June, 2018

GBPUSD Reversed Nicely Off Resistance, Prepare For A Drop!
**GBPUSD reversed nicely off its resistance where we expect to see a drop. **

Sell below 1.3647. Stop loss 1.3611. Take profit at 1.3219.
Reason for the trading strategy (technically):
GBPUSD reversed nicely off its resistance at 1.3646 (61.8% Fibonacci extension, 23.6% Fibonacci retracement, horizontal overlap resistance, where we expect price to fall to its support at 1.3219 (horizontal swing low support).
Stochasitic (55, 5, 3) has reversed off its resistance at 95% and a bearish divergence with price has been identified which contributes to our bearish bias.

EURAUD Reversed Nicely Off Resistance, Prepare For A Drop!
EURAUD reversed off its resistance where we expect to see a drop.

Sell below 1.5515. Stop loss at 1.5601. Take profit at 1.5289.
Reason for the trading strategy (technically):
EURAUD reversed off its resistance at 1.5515 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, 38.2% Fibonacci retracement, horizontal overlap resistance) where we expect to see it drop to its support at 1.5289 (horizontal swing low support). We do have to be cautious of the intermediate support at 1.5385 (50% Fibonacci retracement, horizontal overlap support).

Stochastic (55, 5, 3) has also reversed off its resistance at 95% where a corresponding drop is expected.

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

Sell below 7736. Stop loss at 7847. Take profit at 7515.
Reason for the trading strategy (fundamentally):
“Just beware.” That’s Jamie Dimon, CEO of Wall Street investment bank J.P Morgan Chase, who spoke Thursday to CNBC during a segment alongside billionaire investor Warren Buffett. During the joint interview, Buffett again shares his views on Bitcoin. “Bitcoin itself is creating nothing,” he told CNBC at the time. “When you’re buying non-productive assets, all you’re counting on is the next person is going to pay you more because they’re even more excited about another next person coming along.” Uncertainty still looms around the world which affects the price and value of Bitcoin.
Reason for the trading strategy (technically):
BTCUSD is testing its resistance at 7736 (23.6% Fibonacci retracement, 38.2% Fibonacci retracement, horizontal swing high resistance) where we expect to see a reaction, causing price to fall to its support at 7515 (61.8% Fibonacci retracement, horizontal swing low support).
Stochastic (55, 5, 3) has reversed off its resistance at 90% where we expect to see a corresponding drop.

MEX_Exchange · June 11, 2018, 2:47am

Date: 10h June, 2018

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

Buy above 1.0781. Stop loss 1.0715. Take profit at 1.0897.
Reason for the trading strategy (technically):
AUDNZD is approaching its support at 1.0781 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal swing low support) where we expect price to bounce and rise to its resistance at 1.0897 (61.8% Fibonacci extension, horizontal overlap resistance).
Stochastic (55, 5, 3) is approaching its support at 5.9% where a corresponding bounce is expected.

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

Buy above 109.22. Stop loss at 108.91. Take profit at 110.13.
Reason for the trading strategy (technically):
USDJPY is approaching its support at 109.22 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap support) where we expect prices to rise to its resistance at 110.13 (61.8% Fibonacci retracement, horizontal swing high resistance).

Stochastic (55, 5, 3) is also approaching its support at 5.2% where a corresponding bounce is expected.

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

Buy above 6640. Stop loss at 6134. Take profit at 7761.
Reason for the trading strategy (fundamentally):
A dump took place today that hit markets below the belt, as most cryptocurrencies lost significant values. Last week, towards the beginning of the weekend, markets were pretty stable and consolidating tightly into a triangular formation. Then, on Saturday, the United States Commodity Futures Trading Commission (CFTC) and the U.S. Justice Department revealed they had subpoenaed four major exchanges while looking into their cryptocurrency price manipulation investigation. Just before that moment on June 9, markets slid about 1-hour before the announcement. Today’s drop was harder to put the blame on as it could have been an after effect from yesterday’s announcement, the fact that market volumes are extremely thin, or some blamed it on the small exchange from South Korea Coinrail being hacked this weekend for $40Mn worth of ICO tokens.
Reason for the trading strategy (technically):
BTCUSD is testing its support at 6640 (100% Fibonacci extension, 61.8% Fibonacci extension, 61.8% Fibonacci extension, horizontal swing low support) where we expect it to bounce and rise to its resistance at 7761 (horizontal swing high resistance).
Stochastic (55, 5, 3) is testing its support at 4.7% where a corresponding bounce is expected.

MEX_Exchange · June 12, 2018, 2:37am

Date: 12h June, 2018

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

Buy above 0.6995. Stop loss 0.6961. Take profit at 0.7054.
Reason for the trading strategy (technically):
NZDUSD is approaching its support at 0.6995 (100% Fibonacci extension, 100% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap support) where we expect to see price bounce off from here, to its resistance at 0.7054 (horizontal swing high resistance).
Stochastic (34, 5, 3) is approaching its support at 6.41% where a corresponding bounce is expected.

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

Sell below 84.47. Stop loss at 85.51. Take profit at 81.30.
Reason for the trading strategy (technically):
AUDJPY is approaching its resistance at 84.47 (100% Fibonacci extension, 61.8% Fibonacci extension, 50% Fibonacci retracement, 38.2% Fibonacci retracement, horizontal overlap resistance) where we expect price to reverse, causing it to fall to its support at 81.30 (horizontal swing low support). We do have to be cautious of the intermediate support at 82.75 (50% Fibonacci retracement, horizontal overlap support).

Stochastic (55, 5, 3) is approaching its resistance at 98% where a corresponding reversal is expected. We have also identified a bearish divergence with price which contributes to our bearish bias.

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

Buy above 6640. Stop loss at 6134. Take profit at 7761.
Reason for the trading strategy (fundamentally):
‘Wall Street’s Crypto King’ Bart Smith is expecting institutional investors to move into the cryptocurrency market once regulations are clarified. Smith told CNBC that institutional investors are waiting on regulatory clarity which will allow the floodgates to open. “[Regulatory] clarity will allow institutions to come in more than anything else because institutions don’t like to invest into uncertainty. So, we’re just taking the most conservative approach that we can,” said Smith. The crypto market is both volatile and loosely regulated. This means the majority of investors are individuals as they do not have to worry about compliance issues and stakeholder’s opinions. Some banks have started dipping their toes in the water, such as Santander creating a financial payments app with Ripple and Barclays launching a venture capital fund into emerging technologies. However, it appears that the lack of regulation is holding up entry to the market. Regulations will give investors confidence which is why it needs to be implemented.
Reason for the trading strategy (technically):
BTCUSD is testing its support at 6640 (100% Fibonacci extension, 61.8% Fibonacci extension, 61.8% Fibonacci extension, horizontal swing low support) where we expect it to bounce and rise to its resistance at 7761 (horizontal swing high resistance).
Stochastic (55, 5, 3) is testing its support at 4.7% where a corresponding bounce is expected.

MEX_Exchange · June 13, 2018, 2:57am

Date: 13th June, 2018

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

Sell below 1.3067. Stop loss 1.3147. Take profit at 1.2862.
Reason for the trading strategy (technically):
USDCAD is approaching its resistance at 1.3067 (61.8% Fibonacci extension x4, horizontal swing high resistance) where we expect to see a reversal, causing price to fall to its support at 1.2862 (38.2% Fibonacci retracement, horizontal swing low).
Stochastic (55, 5, 3) is approaching its resistance at 97% where a corresponding reversal is expected.

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

Buy above 1.1581. Stop loss at 1.1534. Take profit at 1.1658.
Reason for the trading strategy (technically):
EURCHF bounced off its support at 1.1581 (61.8% Fibonacci extension, 61.8% & 38.2% & 23.6% Fibonacci retracement, horizontal overlap support) where we expect prices to rise to its resistance at 1.1658 (61.8% Fibonacci extension, horizontal swing high resistance).

Stochastic (55, 5, 3) bounced off its intermediate support at 10% where a corresponding rise is expected.

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

Buy above 6513. Stop loss at 6134. Take profit at 7761.
Reason for the trading strategy (fundamentally):
In recent regulatory news, Brett Redfearn, the director of the United States Securities and Exchange Commission (SEC)’s Division of Trading and Markets, has described the self-reporting efforts of cryptocurrency exchanges as underwhelming. “We’re underwhelmed by the enthusiasm for coming within the regulatory structure right now,” Mr. Redfearn stated. “There are so many exchanges that are trading ICOs that I would think that we would see more registrations.” SEC has also published a new page on its website encouraging consumers to “Get hip to the three ‘Rs’ of ICOs: Risks, Rewards, and Responsibilities.” The page also implores prospective investors to conduct independent research and due diligence and warns the promotion of unregistered securities may result in legal consequences.
Reason for the trading strategy (technically):
BTCUSD is testing its support at 6513 (100% Fibonacci extension, 61.8% Fibonacci extension, 61.8% Fibonacci extension, horizontal swing low support) where we expect it to bounce and rise to its resistance at 7761 (horizontal swing high resistance).
Stochastic (55, 5, 3) is testing its support at 4.7% where a corresponding bounce is expected.

MEX_Exchange · June 14, 2018, 3:17am

Date: 14th June, 2018

AUDUSD Approaching Support, Prepare For A Bounce!
AUDUSD is approaching its support where we expect to see it bounce.

Buy above 0.7560. Stop loss 0.7513. Take profit at 0.7659.
Reason for the trading strategy (technically):
AUDUSD is approaching its support at 0.7560 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing low support) where we expect to see a bounce, causing price to rise to its resistance at 0.7659 (61.8% & 50% Fibonacci retracement, horizontal overlap resistance).
Stochastic (89, 5, 3) is approaching its support at 9.6% where a corresponding bounce is expected.

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

Buy above 1.0762. Stop loss at 1.0710. Take profit at 1.0891.
Reason for the trading strategy (technically):
AUDNZD is approaching its support at 1.0762 (61.8% Fibonacci extension, 61.8% & 38.2% Fibonacci retracement, horizontal overlap support) where we expect to see a bounce, causing price to rise to its resistance at 1.0891 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance). We do have to be cautious of the intermediate resistance at 1.0835 (50% Fibonacci retracement, horizontal overlap resistance).

Stochastic (55, 5, 3) is approaching its support at 3.8% where a corresponding bounce could occur. We have also identified a bullish divergence with price which contributes to our bullish bias.

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

Buy above 6513. Stop loss at 6134. Take profit at 7761.
Reason for the trading strategy (fundamentally):
Signs are beginning to emerge that bitcoin’s sell-off today may be overextended. After hitting a 70-day low of $6,133 on Coin Desk’s Bitcoin Price Index (BPI), bitcoin’s relative strength index (RSI) hit a level (26.4) last seen in August of 2016, according to data from the Bitfinex exchange. The relative strength index, or RSI, is used for identifying overbought and oversold conditions of an asset by “comparing the magnitude of recent gains and losses over a specified time period to measure speed and change of price.” When such levels are hit, the indicator suggests price action is approaching a level below the asset’s true value, where a price bounce tends to occur.
Reason for the trading strategy (technically):
BTCUSD is testing its support at 6050 (100% Fibonacci extension, 61.8% Fibonacci extension, horizontal swing low support) where we expect it to bounce and rise to its resistance at 7020 (100% Fibonacci extension, 23.6% Fibonacci retracement, horizontal pullback resistance).
Stochastic (55, 5, 3) is testing its support at 2.6% where a corresponding bounce is expected. We have also identified a bullish divergence with price which contributes to our bullish bias.

MEX_Exchange · June 15, 2018, 5:06am

Date: 15th June, 2018

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

Sell below 1.3130. Stop loss 1.3225. Take profit at 1.2918.
Reason for the trading strategy (technically):
USDCAD is approaching its resistance at 1.3130 (100% Fibonacci extension x3, horizontal swing high resistance) where we expect to see a reversal, causing price to fall to its support at 1.2918 (100% Fibonacci extension, 74.6% Fibonacci retracement, horizontal swing low).
Stochastic (55, 5, 3) is approaching its resistance at 99% where a corresponding reversal is expected.

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

Buy above 1.5444. Stop loss at 1.5363. Take profit at 1.5655.
Reason for the trading strategy (technically):
EURAUD bounced off his support at 1.5444 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing low support) and we expect it to rise further to its resistance at 1.5655 (horizontal swing high resistance). We do have to be cautious of the intermediate resistance at 1.5555 (50% Fibonacci retracement, horizontal overlap resistance).

Stochastic (89, 5, 3) bounced off his support at 14% where a corresponding rise is expected.

BTCUSD Testing Resistance, Prepare For Reversal!
**BTCUSD is testing resistance where we expect to see a reversal. **

Buy above 6638. Stop loss at 6883. Take profit at 6246.
Reason for the trading strategy (fundamentally):
Bitcoin’s latest crash may be over after the value of the cryptocurrency stabilized Thursday.The plunge began Sunday, with several factors possibly feeding into it, including a cyber heist that hit South Korea’s Coinrail cryptocurrency exchange—even though no bitcoins were stolen—and a U.S. regulation probe into Bitcoin price manipulation. Bitcoin’s price fell from more than $7,600 on Sunday to little over $6,100 on Wednesday, marking a four-month low for a virtual currency that has already fallen precipitously from its almost-$20,000 high last December. The cryptocurrency-whisperers over at Coindesk reckon that, even if there is a brief rally now, the market remains bearish and Bitcoin may still fall below $6,000. That last happened back in Feburary.
Reason for the trading strategy (technically):
BTCUSD is testing its resistance at 6638 (61.8% Fibonacci retracement, 38.2% Fibonacci retracement, horizontal overlap resistance) where we expect price to reverse, causing price to fall to its support at 6256 (horizontal swing low support).
Stochastic (55, 5, 3) is approaching its resistance at 89% where a corresponding reversal is expected.

MEX_Exchange · June 18, 2018, 2:02am

Date: 18h June, 2018

USDJPY Reversed Nicely Off Resistance, Prepare For A Drop!
USDJPY reversed off its resistance where we expect to see a further drop.

Sell below 110.90. Stop loss 111.39. Take profit at 109.95.
Reason for the trading strategy (technically):
USDJPY reversed nicely off its resistance at 110.90 (100% Fibonacci extension, 61.8% Fibonacci extension, horizontal swing high resistance) where we expect price to fall to its support at 109.53 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing low support).
Stochastic (55, 5, 3) is approaching its resistance at 97% where it still has a lot of downside potential. We have also identified a bearish divergence with price which contributes to our bearish bias.

AUDNZD Testing Its Support, Potential Bounce!
AUDNZD is testing its support where we expect to see a bounce.

Buy above 1.0723. Stop loss at 1.0661. Take profit at 1.0833.
Reason for the trading strategy (technically):
AUDNZD is testing its support at 1.0723 (78.6% & 50% Fibonacci retracement, 100% Fibonacci extension x2, horizontal overlap support) where we expect price to rise to its resistance at 1.0833 (50% Fibonacci retracement, horizontal overlap resistance).

Stochastic (55, 5, 3) is testing its support at 5% where a corresponding rise is expected.

BTCUSD Tested Resistance, Prepare For A Further Drop!
**BTCUSD tested its resistance where we expect to see a further move down. **

Sell below 6638. Stop loss at 6883. Take profit at 6220.
Reason for the trading strategy (fundamentally):
Phillip Nunn, CEO of The Blackmore Group and Wealth Chain Group, piqued the interest of the cryptocurrency and investing communities in January of this year when he made a prediction that the price of Bitcoin, in the year of 2018, would reach a bottom of $6,000 and a high of $60,000. The first half of Nunn’s prediction came true in the first week of February when the price of Bitcoin briefly fell below $6000. Now, many are becoming skeptical that Bitcoin will be able to return to its $20,000 all-time high in 2018, let alone come anywhere close to $60,000. Nunn remains confident, however, citing his unwavering belief in the underlying blockchain technology as the vehicle that will take Bitcoin and others to new highs in the coming years. “The reality is we’re moving from an internet of information to an internet of value. It’s going to disrupt everything; money, record-keeping, legal. All the money that exists in crypto at the moment is from the public, so it’s all about market sentiment. A flood of bad news can wobble the market, stuff like regulation. The industry is so small that there’s market manipulation.”
Reason for the trading strategy (technically):
BTCUSD tested its resistance at 6638 (61.8% & 38.2% Fibonacci retracement, horizontal swing high resistance) where we look to sell on strength. We see it dropping to its support at 6220 (61.8% Fibonacci extension, horizontal swing low support).
Stochastic (34, 5, 3) reversed nicely off its resistance at 89% where it still has a lot of downside potential. Ichimoku cloud is showing signs of bearish pressure.

MEX_Exchange · June 19, 2018, 3:39am

Date: 19h June, 2018

EURAUD Reversed Nicely Off Resistance, Prepare For A Drop!
EURAUD reversed off its resistance where we expect to see a further drop.

Sell below 1.5731. Stop loss 1.5819. Take profit at 1.5550.
Reason for the trading strategy (technically):
EURAUD reversed nicely off its resistance at 1.5731 (50% Fibonacci retracement x2, horizontal swing high resistance) where we expect to see a drop to its support at 1.5550 (61.8% Fibonacci extension, 61.8% & 38.2% Fibonacci retracement, horizontal swing low support).
Stochastic (55, 5, 3) reversed off its resistance at 97% where a corresponding drop is expected.

EURGBP Reversed Nicely Off Resistance, Prepare For A Drop!
EURGBP reversed off its resistance where we expect to see a further drop.

Sell below 0.8778. Stop loss at 0.8803. Take profit at 0.8723.
Reason for the trading strategy (technically):
EURGBP reversed off its resistance at 0.8778 (100% Fibonacci extension, 50% Fibonacci retracement x2, horizontal overlap resistance) where we expect price to drop to its support at 0.8723 (horizontal swing low support).

Stochastic (55, 5, 3) reversed nicely off its resistance at 97%. Ichimoku cloud is showing signs of bearish pressure.

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

Sell below 6854. Stop loss at 6972. Take profit at 6571.
Reason for the trading strategy (fundamentally):
Bitcoin spiked suddenly Monday afternoon following news users of the “Cash” mobile payments app could trade the cryptocurrency in New York. The largest cryptocurrency by market capitalization gained more than 4.5 percent to $6,793, its highest since Tuesday, according to CoinDesk’s bitcoin price index. Bitcoin was trading near $6,694 as of 3:56 p.m. ET. Cash is owned by Square and has 7 million monthly active users, the company said in its first quarter earnings call. On Monday, New York’s Department of Financial Services granted Square a virtual currency license, allowing users of the Cash app in the state to trade bitcoin. Bitcoin trading launched for most Cash users in late January.
Reason for the trading strategy (technically):
BTCUSD is approaching its resistance at 6854 (100% Fibonacci extension, 38.2% & 78.6% Fibonacci retracement, horizontal swing high resistance) where we look to sell on strength with an anticipation of a move down to its support at 6571 (61.8% Fibonacci extension, horizontal overlap support).
Stochastic (34, 5, 3) is approaching its resistance at 89% where a corresponding reversal is expected.

MEX_Exchange · June 20, 2018, 2:17am

Date: 20th June, 2018

CHFJPY Reversed Nicely Off Resistance, Prepare For A Drop!
CHFJPY reversed off its resistance where we expect to see a further drop.

Sell below 110.74. Stop loss 111.81. Take profit at 109.70.
Reason for the trading strategy (technically):
CHFJPY reversed nicely off its resistance at 110.74 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance) where we expect to see a drop to its support at 109.70 (78.6% Fibonacci retracement, 100% Fibonacci extension).
Stochastic (21, 5, 3) is approaching its resistance at 92% where a corresponding reaction could occur.

EURJPY Bounced Off Support, Prepare For Further Rise!
EURJPY bounced off its support where we expect prices to rise further.

Buy above 126.86. Stop loss at 125.90. Take profit at 128.48.
Reason for the trading strategy (technically):
EURJPY bounced nicely off its support at 126.86 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing low support) where we expect price to rise to its resistance at 128.48 (50% Fibonacci retracement, horizontal swing high resistance).

Stochastic (89, 5, 3) bounced off its support at 2.8% where a corresponding rise is expected.

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

Buy above 6571. Stop loss at 6471. Take profit at 6759.
Reason for the trading strategy (fundamentally):
The association comprising of 16 government-approved cryptocurrency exchanges in Japan has reportedly provided a sneak peak of its self-regulatory rules. The focuses are on banning insider trading and preventing exchanges from listing privacy coins. The Japan Virtual Currency Exchange Association (JVCEA) has given a sneak peak of the draft self-regulatory rules it has been working on, “in an effort to step up consumer protections and improve transparency,” Nikkei reported on Monday. The main focuses of the new regulations are on “insider trading and the trading of new currencies that cannot be traced easily,” the publication detailed, adding: “The proposed rules explicitly ban insider trading. Word has leaked previously that a major exchange would start handling a new currency, which led to a surge in the currency’s value and left many suspecting market manipulations. Such activity would represent a clear violation of the new rules. The association also wants to prohibit exchanges from accepting new currencies that cannot be traced to previous sellers, since such currencies could easily be used for money laundering and are hard to monitor. Highly anonymous coins like Monero, Dash and Zcash could be forced out of the mainstream.”
Reason for the trading strategy (technically):
Bitcoin is approaching its support at 6571 (38.2% & 50% Fibonacci retracement, 61.8% Fibonacci extension, horizontal overlap support) where we expect to see a bounce, causing price to rise to its resistance at 6759 (horizontal swing high resistance).
Stochastic (21, 5, 3) is approaching its support at 6% where a corresponding bounce is expected.