☆ Daily Technical Analysis by MEX Exchange ☆

MEX_Exchange · November 29, 2017, 4:02am

Date: November 28, 2017

**USDCHF right on selling area, time to go short **

Sell below 0.9842. Stop loss at 0.9884. Take profit at 0.9733.
Reason for the trading strategy (technically):
Price has made a pullback to our selling area exactly as expected. We remain bearish looking to sell on strength below major resistance at 0.9842 (Fibonacci retracement, horizontal overlap resistance, breakout pullback) for a further push down to at least 0.9733 support (Fibonacci retracement, Fibonacci extension, horizontal swing low support).
Stochastic (21,3,1) is approaching our major resistance level of 97% where we expect a corresponding reaction from.

NZDUSD right on major support, prepare to sell on the breakout

Sell below 0.6885. Stop loss at 0.6921. Take profit at 0.6823.
Reason for the trading strategy (technically):
Price is now testing major support at 0.6885 (Multiple Fibonacci retracement, horizontal overlap support, ascending channel support) and we expect a break of this level to trigger a strong bearish drop towards 0.6823 support (Fibonacci retracement, horizontal swing low support).
RSI (34) is starting to see multiple bearish exits as a precursor to a drop we’re expecting.

AUDJPY bouncing up perfectly, remain bullish

Buy above 84.53. Stop loss at 83.57. Take profit at 86.67.
Reason for the trading strategy (technically):
Price is starting to bounce off our buying level. We remain bullish above major support at 84.53 (Fibonacci retracement, long term horizontal overlap support, bullish divergence) and we look to play a bounce above this level to push price up to at least 86.67 resistance (Multiple Fibonacci retracements, horizontal pullback resistance).
Stochastic (89,3,1) is seeing bullish divergence vs price signalling that a reversal is impending.

USDJPY bouncing nicely with a bullish exit triggering further strength

Buy above 111.11. Stop loss at 109.95. Take profit at 112.53.
Reason for the trading strategy (technically):
Price is finally starting to bounce up nicely and a bullish exit has triggered further strength for a push up. We remain bullish looking to buy above major support at 111.11 (Fibonacci retracement, Fibonacci extension, horizontal overlap support, Elliott wave structure, bullish divergence) for a corrective bounce up to at least 112.53 resistance (Fibonacci retracement, horizontal overlap resistance).
RSI (34) sees major support at 34% where we expect a corresponding bounce from. We can also see bullish divergence signalling that a strong reversal is impending. A recent bullish exit from our long term descending resistance-turned-support line also adds further strength to our move.
Correlation analysis: We’re expecting JPY weakness with AUDJPY expecting a bounce too.

AUDUSD dropping nicely, remain bullish

Sell below 0.7629. Stop loss at 0.7670. Take profit at 0.7537.
Reason for the trading strategy (technically):
Price continues to drop nicely from our selling area. We remain bearish looking to sell on strength below major resistance at 0.7629 (Fibonacci retracement, horizontal overlap resistance, channel resistance, Fibonacci extension, bearish divergence) and we expect to see a strong drop from this level to push price down to at least 0.7537 support (Fibonacci extension, horizontal swing low support).
Stochastic (55,3,1) is seeing strong resistance at 96% where we expect a corresponding reaction off. We can also see bearish divergence vs price signalling that a strong drop is impending.

EURUSD sell signal triggered, time to play the drop

Sell below 1.1862. Stop loss at 1.1974. Take profit at 1.1728.
Reason for the trading strategy (technically):
Price has broken major support and we now look to sell below major resistance at 1.1862 (Multiple Fibonacci retracement, horizontal pullback support) and we look to sell on the pullback to this major resistance for price to drop to at least 1.1728 support (Fibonacci retracement, horizontal pullback support).
Stochastic (34,3,1) is dropping nicely from our 94% resistance level pushing price to the next support level. We still have good downside potential for this strategy.

MEX_Exchange · November 30, 2017, 1:46am

Date: November 30, 2017

USDCHF testing our selling area and forming a nice reversal pattern, remain bearish

Sell below 0.9842. Stop loss at 0.9884. Take profit at 0.9733.
Reason for the trading strategy (technically):
Price has made a pullback to our selling area exactly as expected and is now testing our selling area. We remain bearish looking to sell on strength below major resistance at 0.9842 (Fibonacci retracement, horizontal overlap resistance, breakout pullback, bearish divergence) for a further push down to at least 0.9733 support (Fibonacci retracement, Fibonacci extension, horizontal swing low support).
Stochastic (21,3,1) is dropping nicely from our resistance and has also formed bearish divergence vs price signalling that a reversal is impending.

GBPUSD testing major resistance, remain bearish for a correction

Sell below 1.3452. Stop loss at 1.3529. Take profit at 1.3229.
Reason for the trading strategy (technically):
Price is now testing major resistance at 1.3452 (Fibonacci retracement, horizontal overlap resistance, bearish divergence) and we expect a corrective drop from here to at least 1.3229 support (Fibonacci retracement, horizontal overlap support).
Stochastic (55,3,1) is seeing major resistance below 96% and bearish divergence vs price signals that a reversal is impending.

AUDJPY still on our buying entry, remain bullish

Buy above 84.53. Stop loss at 83.57. Take profit at 86.67.
Reason for the trading strategy (technically):
Price continues to test our buying area. We remain bullish above major support at 84.53 (Fibonacci retracement, long term horizontal overlap support, bullish divergence) and we look to play a bounce above this level to push price up to at least 86.67 resistance (Multiple Fibonacci retracements, horizontal pullback resistance).
Stochastic (89,3,1) is seeing bullish divergence vs price signalling that a reversal is impending.

USDJPY approaching profit target perfectly, prepare to sell

Sell below 112.53. Stop loss at 113.41. Take profit at 110.98.
Reason for the trading strategy (technically):
Price has bounced up perfectly and is fast approaching our profit target as expected. We look to sell below major resistance at 112.53 (Fibonacci retracement, horizontal overlap resistance) for a push down to at least 110.98 support (Fibonacci retracement, horizontal overlap support, Fibonacci extension).
Stochastic (34,3,1) is seeing major resistance below 97% and we expect a strong reaction off that level soon.

AUDUSD approaching profit target nicely, prepare to buy

Buy above 0.7537. Stop loss at 0.7496. Take profit at 0.7629.
Reason for the trading strategy (technically):
Price has continued its drop perfectly towards our profit target. We look to buy above major support at 0.7537 (Fibonacci extension, horizontal swing low support) for a push up to at least 0.7629 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (55,3,1) is seeing support above 1.3% where we expect a corresponding bounce from.

EURUSD remain bearish for a drop from here

Sell below 1.1862. Stop loss at 1.1974. Take profit at 1.1728.
Reason for the trading strategy (technically):
We remain bearish after EURUSD has triggered our sell entry. We look to sell below major resistance at 1.1862 (Multiple Fibonacci retracement, horizontal pullback support) for price to drop to at least 1.1728 support (Fibonacci retracement, horizontal pullback support).
Stochastic (55,3,1) is dropping nicely from our 94% resistance level pushing price to the next support level. We still have good downside potential for this strategy.

MEX_Exchange · December 1, 2017, 3:29am

Date: December 1, 2017

USDCHF reversing below our stop loss resistance, remain bearish for a further push down

Sell below 0.9874. Stop loss at 0.9896. Take profit at 0.9786.
Reason for the trading strategy (technically):
Price has reversed nicely below our stop loss yesterday. We look to remain bearish below 0.9874 resistance (Fibonacci retracement, horizontal overlap resistance, bearish divergence) for a further push down to at least 0.9786 support (Fibonacci extension, horizontal swing low support).
Stochastic (34,3,1) has good downside potential for our remaining drop.

NZDUSD profit target reached perfectly, prepare to buy

Buy above 0.6820. Stop loss at 0.6785. Take profit at 0.6874.
Reason for the trading strategy (technically):
Price has dropped perfectly and reached our profit target. We look to buy above major support at 0.6820 (Fibonacci retracement, Fibonacci extension, horizontal overlap support) for a push up to at least 0.6874 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (34,3,1) is seeing strong support above 0.8% where we expect a strong bounce from.

AUDJPY bouncing nicely and making a bullish exit, remain bullish from here

Buy above 84.53. Stop loss at 83.57. Take profit at 86.67.
Reason for the trading strategy (technically):
Price has started to bounce nicely from our buying area and recent price action sees a bullish exit being triggered. We remain bullish above major support at 84.53 (Fibonacci retracement, long term horizontal overlap support, bullish divergence) for a push up to at least 86.67 resistance (Multiple Fibonacci retracements, horizontal pullback resistance).
Stochastic (89,3,1) is seeing bullish divergence vs price signalling that a reversal is impending. We can also see a bullish exit triggering further bullish momentum.

USDJPY profit target reached perfectly, prepare to sell

Sell below 112.70. Stop loss at 113.41. Take profit at 110.98.
Reason for the trading strategy (technically):
Price has reached our profit target from previously. We look to sell below major resistance at 112.70 (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) for a push down to at least 110.98 support (Fibonacci extension, Fibonacci retracement, horizontal overlap support).
Stochastic (34,3,1) is seeing major resistance at 97% where we expect a strong drop from.

AUDUSD approaching support, remain bullish

Buy above 0.7537. Stop loss at 0.7496. Take profit at 0.7629.
Reason for the trading strategy (technically):
Price has whipsawed around yesterday and is slowly approaching our buying support. We look to buy above major support at 0.7537 (Fibonacci extension, horizontal swing low support) for a push up to at least 0.7629 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (55,3,1) is seeing support above 1.3% where we expect a corresponding bounce from.

EURUSD look to buy on weakness for a last push up

Buy above 1.1805. Stop loss at 1.1705. Take profit at 1.1963.
Reason for the trading strategy (technically):
We look to buy on dips above 1.1805 support (Fibonacci retracement, Fibonacci extension, horizontal overlap support) for a push up to at least 1.1963 resistance (Fibonacci retracement, Fibonacci extension, horizontal swing high resistance).
Stochastic (34,3,1) is bouncing nicely off our 3.2% support and has good upside potential.

MEX_Exchange · December 4, 2017, 5:42am

Date: December 4, 2017

USDCHF profit target reached perfectly, remain bearish once we break support

Sell below 0.9787. Stop loss at 0.9836. Take profit at 0.9671.
Reason for the trading strategy (technically):
Price has dropped perfectly and reached our profit target. We look to sell on the break of strong support at 0.9787 for a further push down to at least 0.9671 support (Fibonacci retracement, Fibonacci extension, horizontal overlap support).
Stochastic (34,3,1) is telling us that we’ll likely see a bounce any further sideways price action before a drop to confirm our bearish move.

USDCAD approaching major support, prepare to buy

Buy above 1.2664. Stop loss at 1.2576. Take profit at 1.2844.
Reason for the trading strategy (technically):
Price is approaching major support at 1.2664 (Fibonacci extension, Fibonacci retracement, horizontal swing low support) and we expect a bounce from this level up to at least 1.2844 resistance (Fibonacci retracement, horizontal overlap resistance, breakout resistance).
Stochastic (34,5,3) is seeing strong support above 3.9% where we expect a corresponding bounce from.

AUDJPY remain bullish for a further rise

Buy above 85.36. Stop loss at 84.39. Take profit at 86.67.
Reason for the trading strategy (technically):
Price has shot up as expected and is fast approaching our profit target. We look to buy on dips above 85.36 support (Fibonacci retracement, horizontal pullback support, price gap) for a further push up to at least 86.67 resistance (Multiple Fibonacci retracement, horizontal pullback resistance).
Stochastic (89,3,1) warns that we are seeing immediate resistance so we should be expecting a drop soon for us to get in at a cheaper price.

USDJPY right on resistance once again, remain bearish

Sell below 112.70. Stop loss at 113.41. Take profit at 110.98.
Reason for the trading strategy (technically):
Price has shot down and bounced up to our selling area once again. We look to sell on major resistance at 112.70 (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) for a push down to at least 110.98 support (Fibonacci extension, Fibonacci retracement, horizontal overlap support).
Stochastic (34,3,1) is seeing major resistance at 97% where we expect a strong drop from.

AUDUSD profit target reached perfectly, prepare to sell on strength

Sell below 0.7629. Stop loss at 0.7660. Take profit at 0.7537.
Reason for the trading strategy (technically):
Price has shot up and reached our profit target perfectly. We look to sell on strength below major resistance at 0.7629 (Fibonacci retracement, horizontal overlap resistance, descending resistance, price gap) for a further push down to at least 0.7537 support (Fibonacci extension, horizontal swing low support).
Stochastic (34,3,1) is seeing major resistance below 94% where we expect a corresponding drop from.

EURUSD look to buy on weakness for a last push up

Buy above 1.1805. Stop loss at 1.1705. Take profit at 1.1963.
Reason for the trading strategy (technically):
Price has whipsawed around once again. We remain bullish looking to buy on dips above 1.1805 support (Fibonacci retracement, Fibonacci extension, horizontal overlap support) for a push up to at least 1.1963 resistance (Fibonacci retracement, Fibonacci extension, horizontal swing high resistance).
Stochastic (34,3,1) is bouncing nicely off our 3.2% support and has good upside potential.

MEX_Exchange · December 5, 2017, 7:02am

Date: December 5, 2017

USDCHF approaching major resistance, prepare to sell

Sell below 0.9881. Stop loss at 0.9948. Take profit at 0.9738.
Reason for the trading strategy (technically):
Price is testing channel resistance and major resistance at 0.9881 (Fibonacci retracement, horizontal overlap resistance, channel resistance) and we expect to see a strong reaction from this level to push price down to at least 0.9738 support (Fibonacci retracement, horizontal swing low support, price gap).
Stochastic (34,3,1) is seeing major resistance at 97% where we expect a corresponding drop from.

USDCAD right on support, time to buy

Buy above 1.2664. Stop loss at 1.2576. Take profit at 1.2844.
Reason for the trading strategy (technically):
Price is now testing our buying level and major support at 1.2664 (Fibonacci extension, Fibonacci retracement, horizontal swing low support) and we expect a bounce from this level up to at least 1.2844 resistance (Fibonacci retracement, horizontal overlap resistance, breakout resistance).
Stochastic (34,5,3) is seeing strong support above 3.9% where we expect a corresponding bounce from.

AUDJPY bouncing off nicely from our support, remain bullish

Buy above 85.36. Stop loss at 84.39. Take profit at 86.67.
Reason for the trading strategy (technically):
Price has dropped to our buying entry and bounced off perfectly. We look to buy on dips above 85.36 support (Fibonacci retracement, horizontal pullback support, price gap) for a further push up to at least 86.67 resistance (Multiple Fibonacci retracement, horizontal pullback resistance).
Stochastic (89,3,1) warns that we are seeing immediate resistance so we should exercise caution on this trade.

USDJPY reversing nicely, tweaking our sell entry due to new elements

Sell below 113.22. Stop loss at 113.96. Take profit at 111.79.
Reason for the trading strategy (technically):
Price has dropped nicely from our selling area. We adjust our selling area to be at major resistance 113.22 (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) for a push down to at least 111.79 support (Fibonacci retracement, horizontal overlap support).
Stochastic (34,3,1) is seeing major resistance below 97% where we expect a strong reaction from.

AUDUSD below resistance, remain bearish

Sell below 0.7629. Stop loss at 0.7660. Take profit at 0.7537.
Reason for the trading strategy (technically):
Price continues to hover below our resistance. We look to sell on strength below major resistance at 0.7629 (Fibonacci retracement, horizontal overlap resistance, descending resistance, price gap) for a further push down to at least 0.7537 support (Fibonacci extension, horizontal swing low support).
Stochastic (34,3,1) is seeing major resistance below 94% where we expect a corresponding drop from.

EURUSD approaching support, remain bullish

Buy above 1.1805. Stop loss at 1.1705. Take profit at 1.1963.
Reason for the trading strategy (technically):
We remain bullish looking to buy on dips above 1.1805 support (Fibonacci retracement, Fibonacci extension, horizontal overlap support) for a push up to at least 1.1963 resistance (Fibonacci retracement, Fibonacci extension, horizontal swing high resistance).
Stochastic (34,3,1) is bouncing nicely off our 3.2% support and has good upside potential.

MEX_Exchange · December 6, 2017, 6:44am

Date: December 6, 2017

USDCHF right on major resistance, time to sell

Sell below 0.9881. Stop loss at 0.9948. Take profit at 0.9738.
Reason for the trading strategy (technically):
Price is now testing our major selling area resistance at 0.9881 (Fibonacci retracement, horizontal overlap resistance) and we expect to see a strong reaction from this level to push price down to at least 0.9738 support (Fibonacci retracement, horizontal swing low support, price gap).
Stochastic (34,3,1) is seeing major resistance at 97% where we expect a corresponding drop from.

USDCAD reversing nicely from support, remain bullish

Buy above 1.2664. Stop loss at 1.2576. Take profit at 1.2844.
Reason for the trading strategy (technically):
Price tested our major support before bouncing off nicely. We remain bullish above 1.2664 (Fibonacci extension, Fibonacci retracement, horizontal swing low support) and we expect a bounce from this level up to at least 1.2844 resistance (Fibonacci retracement, horizontal overlap resistance, breakout resistance).
Stochastic (34,5,3) is seeing strong support above 3.9% where we expect a corresponding bounce from.

AUDJPY remain bullish for a further rise

Buy above 85.36. Stop loss at 84.39. Take profit at 86.67.
Reason for the trading strategy (technically):
We remain bullish looking to buy on dips above 85.36 support (Fibonacci retracement, horizontal pullback support, price gap) for a further push up to at least 86.67 resistance (Multiple Fibonacci retracement, horizontal pullback resistance).
Stochastic (89,3,1) warns that we are seeing immediate resistance so we should exercise caution on this trade.

USDJPY dropping nicely, remain bearish

Sell below 113.22. Stop loss at 113.96. Take profit at 111.79.
Reason for the trading strategy (technically):
Price continues to drop nicely as expected. We remain bearish looking to buy on strength below major resistance 113.22 (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) for a push down to at least 111.79 support (Fibonacci retracement, horizontal overlap support).
Stochastic (34,3,1) is seeing major resistance below 97% where we expect a strong reaction from.

AUDUSD dropping nicely, remain bearish

Sell below 0.7630. Stop loss at 0.7660. Take profit at 0.7537.
Reason for the trading strategy (technically):
Price has dropped perfectly from our selling area. We look to sell on strength below major resistance at 0.7629 (Fibonacci retracement, horizontal overlap resistance) for a further push down to at least 0.7537 support (Fibonacci extension, horizontal swing low support).
Stochastic (34,3,1) has made a bearish exit signalling further bearish momentum is expected.

EURUSD bouncing nicely, remain bullish

Buy above 1.1805. Stop loss at 1.1749. Take profit at 1.1928.
Reason for the trading strategy (technically):
Price has touched our buying entry and bounced up nicely. We remain bullish above 1.1805 support (Fibonacci retracement, Fibonacci extension, horizontal overlap support, bullish divergence) for a push up to at least 1.1928 resistance (Fibonacci retracement, Fibonacci extension, horizontal swing high resistance).
Stochastic (34,3,1) is bouncing nicely off our 3.2% support and has good upside potential. We can also see bullish divergence vs price signalling that a reversal is impending.

MEX_Exchange · December 7, 2017, 2:20am

Date: December 7, 2017

USDCHF remain bearish

Sell below 0.9903. Stop loss at 0.9948. Take profit at 0.9784.
Reason for the trading strategy (technically):
Price continues to test our major selling area resistance. We remain bearish looking to sell at 0.9903 resistance (Fibonacci retracement, horizontal overlap resistance, bearish divergence) for a corrective drop to at least 0.9784 support (Fibonacci retracement, price gap).
Stochastic (34,3,1) is seeing major resistance at 97% where we expect a corresponding drop from. We can also see bearish divergence vs price signalling that a reversal is impending.

USDCAD profit target reached perfectly, prepare to sell

Sell below 1.2844. Stop loss at 1.2900. Take profit at 1.2708.
Reason for the trading strategy (technically):
Price has shot up and reached our profit target perfectly. We prepare to sell on major resistance at 1.2844 (Fiboancci extension, Fibonacci retracement, horizontal overlap resistance) for a push down to at least 1.2708 support (Fibonacci retracement, horizontal pullback support).
Stochastic (34,3,1) is seeing major resistance at 98% where we expect a corresponding drop from.

NZDUSD time to start buying

Buy above 0.6871. Stop loss at 0.6838. Take profit at 0.6944.
Reason for the trading strategy (technically):
We look to buy above major support at 0.6871 (Fibonacci retracement, horizontal overlap support) push a push up to at least 0.6944 resistance (Fibonacci extension, horizontal swing high resistance).
Stochastic (34,3,1) is seeing strong support above 0.8% where we expect a bounce from.

USDJPY looking to buy on dips for a bounce

Buy above 111.94. Stop loss at 111.60. Take profit at 113.06.
Reason for the trading strategy (technically):
Price had dropped perfectly towards our profit target. We look to close off our position in profit and buy on dips above 111.94 support (Fibonacci retracement, horizontal overlap support, Fibonacci extension) for a bounce up to at least 113.06 resistance (Fibonacci extension, horizontal swing high resistance, Fibonacci retracement) once again.
Stochastic (21,3,1) is bouncing nicely off our 6.2% support with good upside potential.

AUDUSD profit target reached perfectly, prepare to buy

Buy above 0.7534. Stop loss at 0.7513. Take profit at 0.7593.
Reason for the trading strategy (technically):
Price has plummeted to our profit target. We look to buy above 0.7534 support (Fibonacci extension, horizontal swing low support) for a push up to at least 0.7593 resistance (Fibonacci retracement, horizontal overlap resistance, Fibonacci extension).
Stochastic (34,3,1) is seeing major support above 1.2% where we expect a corresponding bounce from.

EURUSD remain bullish

Buy above 1.1805. Stop loss at 1.1749. Take profit at 1.1928.
Reason for the trading strategy (technically):
Price is testing our buying support level. We remain bullish above 1.1805 support (Fibonacci retracement, Fibonacci extension, horizontal overlap support) for a push up to at least 1.1928 resistance (Fibonacci retracement, Fibonacci extension, horizontal swing high resistance).
Stochastic (34,3,1) is bouncing nicely off our 3.2% support and has good upside potential.

MEX_Exchange · December 8, 2017, 1:32am

Date: December 8, 2017

USDCAD right on resistance, remain bearish

Sell below 1.2859. Stop loss at 1.2900. Take profit at 1.2708.
Reason for the trading strategy (technically):
Price has shot up and reached our profit target perfectly. We prepare to sell on major resistance at 1.2859 (Fibonacci extension, Fibonacci retracement, horizontal overlap resistance) for a push down to at least 1.2708 support (Fibonacci retracement, horizontal pullback support).
Stochastic (34,3,1) is seeing major resistance at 98% where we expect a corresponding drop from.

AUDJPY bouncing up nicely, remain bullish

Buy above 84.78. Stop loss at 84.39. Take profit at 86.13.
Reason for the trading strategy (technically):
We remain bullish on AUDJPY looking to buy above 84.78 support (Fibonacci retracement, swing low support) for a corrective bounce up to at least 86.13 resistance (Fibonacci retracement, horizontal swing high resistance).
Stochastic (34,3,1) is seeing major support above 1.4% where we expect a corresponding bounce from.

USDJPY profit target reached perfectly, prepare to sell

Sell below 113.20. Stop loss at 113.61. Take profit at 112.04.
Reason for the trading strategy (technically):
Price has shot up and reached our profit target. We look to sell below 113.20 resistance (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) for a push down to at least 112.04 support (Fibonacci retracement, horizontal overlap support).
Stochastic (34,3,1) is seeing major resistance at 97% where we expect a corresponding drop from.

MEX_Exchange · December 11, 2017, 3:23am

Date: December 11, 2017

USDCAD reversing nicely from our selling area, remain bearish

Sell below 1.2859. Stop loss at 1.2900. Take profit at 1.2708.
Reason for the trading strategy (technically):
Price has been testing our selling area and is starting to form a nice reversal pattern. We remain bearish looking to sell on major resistance at 1.2859 (Fibonacci extension, Fibonacci retracement, horizontal overlap resistance, bearish divergence) for a push down to at least 1.2708 support (Fibonacci retracement, horizontal pullback support).
Stochastic (34,3,1) is showing major resistance at 98% where we expect a strong reaction from. We can also see bearish divergence vs price signalling that a reversal is impending.

EURUSD approaching strong support, prepare to buy

Buy above 1.1712. Stop loss at 1.1633. Take profit at 1.1811.
Reason for the trading strategy (technically):
Price has been dropping strongly from last week. We look to buy above major support at 1.1712 (Fibonacci retracement, horizontal swing low support, Fibonacci extension area) for a push up to at least 1.1811 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (55,3,1) is seeing strong support above 1.8% and has good upside potential.

USDJPY time to turn bullish on pullback support

Buy above 113.11. Stop loss at 112.79. Take profit at 113.90.
Reason for the trading strategy (technically):
Price has broken a key level of support triggering our bullish move. We look to buy above major support at 113.11 (Fibonacci retracement, horizontal overlap support) for a push up to at least 113.90 resistance (Fibonacci retracement, horizontal swing high resistance).
Stochastic (34,3,1) is showing major resistance at 96% so we expect a retracement first to get us into a good entry position before our bounce.

BTCUSD look to buy on weakness

Buy above 11887. Stop loss at 10446. Take profit at 15221.
Reason for the trading strategy (technically):
Bitcoin’s price has continued to rise strongly and it also continues to obey strong technical as seen in our various Fibonacci retracements and projections. The recent swing low that occurred at 12720 was purely a 50% Fibonacci retracement and 100% + 161.8% Fibonacci extension. We are bullish on this and the key question is where to find a good entry level. We look to buy above 11887 support (61.8% Fibonacci retracement, horizontal pullback support) with first key level of support seen at 12116 (100% Fibonacci extension). Our profit target would be at 15221 (Fibonacci retracement, horizontal swing high resistance).
Stochastic (34,5,3) main support is at 21% and we should expect it to drop towards that level which corresponds to our buy entry.

Reason for the trading strategy (fundamentally):
While it’s important to find out what is driving the mega climb on Bitcoin, it’s likely that this run is very much fuelled by speculation over value as one of the key points is the stark contrast we’re seeing versus the other major cryptocurrencies. While Bitcoin has been rallying, Ethereum, Ripples and Litecoin were all ranging and some even dropping despite being much better and suited for day-to-day transactions – which is what the whole concept of Bitcoin and Cryptocurrencies are meant to achieve. Hence this shows that the appetite we’re seeing right now is not so much for cryptocurrencies and how they would radically redefine the financial system. Based on this, we can expect further volatility and price to obey much more key technical levels as that is the main area the markets would be looking at especially with a lack of key fundamentals.

MEX_Exchange · December 12, 2017, 3:03am

Date: December 11, 2017

USDCAD forming a nice reversal pattern, remain bearish

Sell below 1.2859. Stop loss at 1.2900. Take profit at 1.2708.
Reason for the trading strategy (technically):
Price continues to test our selling area and is starting to form another nice reversal pattern. We remain bearish looking to sell on major resistance at 1.2859 (Fibonacci extension, Fibonacci retracement, horizontal overlap resistance, bearish divergence) for a push down to at least 1.2708 support (Fibonacci retracement, horizontal pullback support).
Stochastic (34,3,1) is showing major resistance at 98% where we expect a strong reaction from. We can also see bearish divergence vs price signalling that a reversal is impending. A recent break below 87% suggests that a drop is approaching.

EURUSD profit target reached, time to turn bearish

Sell below 1.1811. Stop loss at 1.1853. Take profit at 1.1712.
Reason for the trading strategy (technically):
Price has shot up and reached our profit target perfectly as expected. We look to sell below 1.1811 resistance (Fibonacci retracement, horizontal overlap resistance) for a push down to at least 1.1712 support (Fibonacci retracement, horizontal swing low support, Fibonacci extension).
Stochastic (55,3,1) is seeing major resistance at 96% where a good reaction occurred. It now has good downside potential to ride the rest of the move down.

AUDJPY rising nicely from our buying area, remain bullish

Buy above 84.78. Stop loss at 84.39. Take profit at 86.13.
Reason for the trading strategy (technically):
Price has continued to rise nicely from our buying entry. We remain bullish above 84.78 support (Fibonacci retracement, horizontal swing low support) for a further rise to at least 86.13 resistance (Fibonacci retracement, horizontal swing high resistance, Fibonacci extension).
Stochastic (55,3,1) is seeing strong support above 1.4% and has good upside potential following the recent bounce.

BTCUSD approaching major resistance, prepare to sell

Sell below 17459. Stop loss at 18770. Take profit at 14739.
Reason for the trading strategy (technically):
Bitcoin’s price has continued to rise strongly yesterday and we’re seeing it approaching a major resistance area. We look to sell below 17459 resistance (Fibonacci extension, bearish price action, bearish divergence) for a drop towards at least 14739 support (Fibonacci retracement, horizontal overlap support).
Stochastic (34,5,3) is seeing major resistance below 98% and also displays bearish divergence vs price, signalling that a reversal is impending.

Reason for the trading strategy (fundamentally):
Bitcoin January futures (which are contracts that let investors buy or sell something at a specific price in the future) price are about $17,800 which is rather close to where we forecast major resistance. This is in line with the immediate resistance we’re seeing on the technical side so it would be safe to start looking to short Bitcoin for a correction.

MEX_Exchange · December 13, 2017, 2:40am

Date: December 13, 2017

USDCHF approaching major support, prepare to buy

Buy above 0.9883. Stop loss at 0.9848. Take profit at 0.9971.
Reason for the trading strategy (technically):
Price is approaching major support at 0.9983 (Fibonacci retracement, Fibonacci extension, horizontal overlap support) and we expect to see a nice bounce above this level to push price up to at least 0.9971 resistance (Fibonacci extension, horizontal swing high resistance).
Stochastic (34,3,1) is approaching major support at 2.1% where we expect a corresponding bounce.

EURUSD profit target reached once again, prepare to buy

Buy above 1.1712. Stop loss at 1.1633. Take profit at 1.1811.
Reason for the trading strategy (technically):
Price has dropped strongly towards our profit target as expected. We prepare to buy above major support at 1.1712 (Fibonacci retracement, horizontal swing low support) for a bounce up to at least 1.1811 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (34,3,1) is approaching major support at 1.6% where a corresponding bounce is expected.

USDJPY approaching major resistance, prepare to sell

Sell below 113.91. Stop loss at 114.41. Take profit at 113.12.
Reason for the trading strategy (technically):
Price is approaching major resistance at 113.91 (Fibonacci retracement, Fibonacci extension, swing high resistance) and we expect to see a strong reaction off that level to push price down to at least 113.12 support (Fibonacci retracement, horizontal overlap support).
Stochastic (34,3,1) is seeing major resistance at 96% where we expect a further drop from.

BTCUSD reacting off our selling entry perfectly, remain bearish

Sell below 17459. Stop loss at 18770. Take profit at 14739.
Reason for the trading strategy (technically):
Bitcoin has reached our selling area and is reacting off it nicely. We remain bearish looking to sell below 17459 resistance (Fibonacci extension, bearish price action, bearish divergence) for a drop towards at least 14739 support (Fibonacci retracement, horizontal overlap support).
Stochastic (34,5,3) is seeing major resistance below 98% and also displays bearish divergence vs price, signalling that a reversal is impending.

Reason for the trading strategy (fundamentally):
Bitcoin January futures (which are contracts that let investors buy or sell something at a specific price in the future) price are about $17,800 which is rather close to where we forecast major resistance. This is in line with the immediate resistance we’re seeing on the technical side so it would be safe to start looking to short Bitcoin for a correction.

MEX_Exchange · December 14, 2017, 2:27am

Date: December 14, 2017

AUDUSD approaching major resistance, prepare to sell

Sell below 0.7698. Stop loss at 0.7751. Take profit at 0.7537.
Reason for the trading strategy (technically):
Price is approaching major resistance at 0.7698 (Fibonacci retracement, horizontal swing high resistance) and we expect to see a reaction off this level to push price down to at least 0.7537 support (Fibonacci retracement, horizontal overlap support). Stop loss is at 0.7751 (Multiple Fibonacci retracement, horizontal pullback resistance).
Stochastic (34,3,1) is seeing major resistance below our 97% and we expect a strong reaction off this level.

EURUSD profit target reached perfectly once again, remain bullish

Buy above 1.1811. Stop loss at 1.1764. Take profit at 1.1892.
Reason for the trading strategy (technically):
Price has shot up and reached our profit target perfectly. We remain bullish looking to buy on dips above 1.1811 support (Fibonacci retracement, horizontal overlap support) for a push up to at least 1.1892 resistance (Fibonacci retracement, price gap).
Stochastic (34,3,1) is seeing major resistance at 98% so we expect to see a reaction off this level to push price down first before resuming a rise.

AUDJPY approaching major resistance, remain bearish

Sell below 86.67. Stop loss at 87.34. Take profit at 84.69.
Reason for the trading strategy (technically):
Price continues to rise towards our major resistance area. We look to sell below 86.67 resistance (Fibonacci extension, Fibonacci retracement, horizontal pullback resistance) for a push down to at least 84.69 support (Fibonacci retracement, horizontal swing low support).
Stochastic (55,3,1) is seeing major resistance below 98% and we expect a corresponding reaction off this level.

BTCUSD dropping perfectly as expected, close off position in profit and prepare to sell on break of support

Sell below 15995. Stop loss at 16612. Take profit at 14739.
Reason for the trading strategy (technically):
Bitcoin has dropped perfectly from our selling area. We now close off our position in profit and prepare to sell on the break of 15995 support (Fibonacci retracement, horizontal overlap support, bullish price action) and if price closes below this level, we expect a strong push down to at least 14739 support (Fibonacci retracement, horizontal overlap support).

Reason for the trading strategy (fundamentally):
The rise of bitcoin has been slowing down especially with news from the South Korean government holding an emergency meeting to evaluate the state of the local cryptocurrency market and trading of digital currencies. There are plans to introduce various regulatory measures on Friday, December 15. This is largely due to many cryptocurrency-related Ponzi schemes in the local market and many scams going around. So expect slower movements on Bitcoin towards the end of this week.

MEX_Exchange · December 15, 2017, 2:32am

Date: December 15, 2017

AUDUSD inching up towards selling area, remain bearish

Sell below 0.7698. Stop loss at 0.7751. Take profit at 0.7537.
Reason for the trading strategy (technically):
Price continues to inch towards major resistance at 0.7698 (Fibonacci retracement, horizontal swing high resistance) and we expect to see a reaction off this level to push price down to at least 0.7537 support (Fibonacci retracement, horizontal overlap support). Stop loss is at 0.7751 (Multiple Fibonacci retracement, horizontal pullback resistance).
Stochastic (34,3,1) is seeing major resistance below our 97% and we expect a strong reaction off this level.

USDCAD profit target reached perfectly, prepare to sell

Sell below 1.2803. Stop loss at 1.2860. Take profit at 1.2639.
Reason for the trading strategy (technically):
Price has shot down perfectly and reached our profit target as expected before bouncing up. We prepare to sell below 1.2803 resistance (Fibonacci retracement, horizontal overlap resistance) for a push down to at least 1.2639 support (Fibonacci extension, horizontal swing low support).
Stochastic (34,3,1) sees a bit more downside potential to 2.3% where we expect price to drop to.

AUDJPY right below major resistance, remain bearish

Sell below 86.67. Stop loss at 87.34. Take profit at 84.69.
Reason for the trading strategy (technically):
Price continues to rise towards our major resistance area. We remain bearish looking to sell below 86.67 resistance (Fibonacci extension, Fibonacci retracement, horizontal pullback resistance) for a push down to at least 84.69 support (Fibonacci retracement, horizontal swing low support).
Stochastic (55,3,1) is seeing major resistance below 98% and we expect a corresponding reaction off this level.

BTCUSD failed to break major support, look to sell on strength

Sell below 17463. Stop loss at 18212. Take profit at 15965.
Reason for the trading strategy (technically):
Bitcoin failed to break below our major support and is starting to rebound, making a bullish exit of a recent triangle formation. This leads us to expect price to rise to at least 17463 which is our major selling area (Fibonacci extension, horizontal swing high resistance) before dropping down once again to 15965 support (Fibonacci retracement, horizontal overlap support).

Reason for the trading strategy (fundamentally):
The South Korean government plans on holding an emergency meeting to evaluate the state of the local cryptocurrency market and trading of digital currencies today. There are plans to introduce various regulatory measures on Friday, December 15. This is largely due to many cryptocurrency-related Ponzi schemes in the local market and many scams going around. So expect slower movements on Bitcoin today.

MEX_Exchange · December 19, 2017, 1:10am

Date: December 19, 2017

AUDUSD dropping perfectly from our selling area, remain bearish

Sell below 0.7698. Stop loss at 0.7751. Take profit at 0.7537.
Reason for the trading strategy (technically):
Price continues to drop nicely and sees major resistance below our selling area. We remain bearish below major resistance at 0.7698 (Fibonacci retracement, horizontal swing high resistance) for a further drop down to at least 0.7537 support (Fibonacci retracement, horizontal overlap support). Stop loss is at 0.7751 (Multiple Fibonacci retracement, horizontal pullback resistance).
Stochastic (34,3,1) is seeing major resistance below our 97% and is reversing nicely below this level. It has good downside potential to play the drop.

NZDUSD dropping nicely, remain bearish

Sell below 0.7055. Stop loss at 0.7181. Take profit at 0.6822.
Reason for the trading strategy (technically):
Price has tested our major resistance area and is dropping nicely. We remain bearish looking to sell below major resistance at 0.7055 (Fibonacci retracement, horizontal overlap resistance, resistance area) and we’re expecting a drop from this level towards 0.6822 support (Fibonacci retracement, horizontal swing low support.
Stochastic (34,3,1) is seeing resistance at our 97% level and dropping nicely with good downside potential.

USDCHF seeing major support, prepare for a bounce

Buy above 0.9843. Stop loss at 0.9787. Take profit at 0.9924.
Reason for the trading strategy (technically):
We’re seeing major support above 0.9843 area (Fibonacci retracement, Fibonacci extension, horizontal swing low support, bullish price action) and we expect to see a strong bounce above this level to push price up to at least 0.9924 resistance (Fibonacci retracement, horizontal swing high resistance).
Stochastic (34,3,1) is seeing strong support above 3.4% where we expect a corresponding bounce from.

Bitcoin bouncing nicely, remain bullish

Buy above 17541. Stop loss at 16450. Take profit at 20300.
Reason for the trading strategy (technically):
Price has reversed perfectly as expected dropping to our support area and bouncing as expected. We remain bullish above major support area at 17541 (Multiple Fibonacci retracement, horizontal pullback support, support area) for a further push up to at least 20300 (Multiple Fibonacci extension). First resistance is at 19637 (swing high resistance) to watch out for too.
Stochastic (34,5,3) is bouncing nicely off our 20% support and has good upside potential.

Reason for the trading strategy (fundamentally):
Bitcoin continues to see strong bullish fundamentals which are in line with the bounce we’re expecting on it today. The latest being Standpoint research forecasting it will trade for $400,000 because of the huge imbalance in supply and demand – 21 million Bitcoin can ever exist in an ever growing number of people who want to get their hands on it.

MEX_Exchange · December 20, 2017, 3:47am

Date: December 20, 2017

USDJPY right below major resistance, time to sell!

Sell below 113.10. Stop loss at 113.50. Take profit at 112.08.
Reason for the trading strategy (technically):
Price is now testing major resistance at 113.10 (Fibonacci retracement, Multiple Fibonacci extension, horizontal overlap resistance) and we expect to see a strong reaction from this level to drive price down to at least 112.08 support (Fibonacci extension, horizontal swing low support, Fibonacci retracement).
Stochastic (34,3,1) is seeing major resistance at 98% where we expect a corresponding reaction from.

NZDUSD has broken key support, remain bearish

Sell below 0.8055. Stop loss at 0.7181. Take profit at 0.6822.
Reason for the trading strategy (technically):
Price has broken a recent key support level that it has been testing since 13th December, triggering a strong bearish drop from here. We remain bearish looking to sell on strength below major resistance at 0.7055 (Fibonacci retracement, horizontal overlap resistance, resistance area) towards 0.6822 support (Fibonacci retracement, horizontal swing low support.
Stochastic (55,3,1) is seeing resistance at our 97% level and dropping nicely with good downside potential.

AUDJPY reversing nicely below major resistance

Sell below 86.67. Stop loss at 87.34 Take profit at 84.69.
Reason for the trading strategy (technically):
Price has started to form a really nice reversal pattern with bearish divergence being formed. We look to sell below major resistance at 86.67 (Multiple Fibonacci retracement, horizontal overlap resistance, bearish divergence) for a push down to at least 84.69 support (Fibonacci extension, horizontal swing low support).
Stochastic (55,3,1) is seeing major resistance below 98% where we expect a corresponding drop from. We’re also seeing bearish divergence vs price signalling that a reversal is impending.

Bitcoin dropped strongly, now testing another major support

Buy above 15467. Stop loss at 13901. Take profit at 17945.
Reason for the trading strategy (technically):
Price has dropped strongly and is now testing major support at 15467 (38.2% long term Fibonacci retracement, 61.8% short term Fibonacci retracement, horizontal overlap support) and we expect an intermediate correction from here to push price up to at least 17945 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (34,5,3) is seeing major support above 20% where we expect a bounce from.

Reason for the trading strategy (fundamentally):
We’re seeing Bitcoin drop with investors getting concerned over their network stability and are starting to look towards Bitcoin Cash and Litecoin. Despite this, Bitcoin continues to see strong bullish fundamentals which are in line with the bounce we’re expecting on it today. The latest being Standpoint research forecasting it will trade for $400,000 because of the huge imbalance in supply and demand – 21 million Bitcoin can ever exist in an ever growing number of people who want to get their hands on it.

MEX_Exchange · December 21, 2017, 2:35am

Date: December 20, 2017

GBPUSD above strong support, prepare to buy

Buy above 1.3309. Stop loss at 1.3202. Take profit at 1.3522.
Reason for the trading strategy (technically):
Price is seeing strong support above 1.3309 (Fibonacci retracement, Fibonacci extension, horizontal overlap support) and we expect to see a strong bounce above this level to push price up to at least 1.3522 resistance (Fibonacci extension, horizontal swing high resistance). We have to watch out for the descending line which would pose as intermediate resistance to this move.
Stochastic (55,3,1) is also seeing the descending line pose as intermediate resistance. Only a clean break above would trigger a stronger bullish call.

AUDUSD reversing nicely, remain bearish

Sell below 0.7698. Stop loss at 0.7751. Take profit at 0.7537.
Reason for the trading strategy (technically):
Price is reversing nicely below our major resistance level at 0.7698 (Fibonacci retracement, horizontal swing high resistance) and we remain bearish below this level for a push down to at least 0.7537 support (Fibonacci retracement, horizontal overlap support).
Stochastic (34,3,1) is seeing a nice drop from our 97% resistance level and has good downside potential for our drop.

USDCHF right on major support, remain bullish

Buy above 0.9834. Stop loss at 0.9787. Take profit at 0.9924.
Reason for the trading strategy (technically):
Price is starting to bounce nicely off our major support area starting from 0.9843 (Fibonacci retracement, Fibonacci extension, horizontal swing low support, bullish price action) and we expect a further bounce up to at least 0.9924 resistance (Fibonacci retracement, horizontal swing high resistance).
Stochastic (34,3,1) is seeing a nice bounce above 3.4% support and has good upside potential.

Bitcoin profit target reached perfectly, now right on support again

Buy above 15467. Stop loss at 13901. Take profit at 17945.
Reason for the trading strategy (technically):
Price shot up from our support area and reached our profit target before dropping down to our buying support once again. We remain bullish looking to buy above major support at 15467 (Fibonacci retracement, horizontal overlap support, bullish price action) for a further bounce up to test the 17945 resistance again (Fibonacci retracement, horizontal overlap resistance).

Reason for the trading strategy (fundamentally):
The drop in bitcoin was largely due to investors losing confidence in its security, especially with South Korean exchange Youbit announcing on its website that is it closing down after a hack that resulted in the loss of 17% of its assets. The hackers broke into their hot wallet which is an online account used to pay out crpytocurrencies instantly. This loss in confidence could be one of the reasons we’re seeing much slower movements recently and an increase in supply as speculators are starting to cash out.

MEX_Exchange · December 22, 2017, 2:49am

Date: December 21, 2017

GBPUSD starting to breakout, keep an eye out on this trade!

Buy above 1.3309. Stop loss at 1.3202. Take profit at 1.3522.
Reason for the trading strategy (technically):
Price have been testing our descending resistance line multiple times yesterday and is seeing strong support above 1.3309 (Fibonacci retracement, Fibonacci extension, horizontal overlap support). We expect to see a strong bounce above this level to push price up to at least 1.3522 resistance (Fibonacci extension, horizontal swing high resistance). We have to watch out for the descending line which would pose as intermediate resistance to this move.
Stochastic (55,3,1) is starting to make a bullish exit from its descending resistance-turned-support line and this could trigger a strong corresponding rise up in price.

EURJPY seeing nicely support, prepare to buy

Buy above 133.83. Stop loss at 133.39. Take profit at 134.81.
Reason for the trading strategy (technically):
Price is starting to bounce nicely off 133.83 support (Fibonacci retracement, horizontal overlap support, bullish price action) and we expect to see a strong bounce above this level to push price up to at least 123.81 resistance (Fibonacci extension, horizontal swing high resistance).
Stochastic (21,3,1) is seeing strong support above 6.1% where a corresponding bounce is expected.

USDCHF bouncing perfectly, remain bullish for a further rise

Buy above 0.9876. Stop loss at 0.9843. Take profit at 0.9924.
Reason for the trading strategy (technically):
Price has shot up from our buying area perfectly and is now approaching our profit target nicely. We remain bullish looking to buy on dips above 0.9876 support (Fibonacci retracement, horizontal overlap support) for a further push up to at least 0.9924 resistance (Fibonacci retracement, horizontal swing high resistance). We look to protect our profits by shifting our stop loss to 0.9843.
Stochastic (55,3,1) is in an ascending channel with upside potential resistance at 98%.

Bitcoin testing major support, remain bullish

Buy above 15456. Stop loss at 13906. Take profit at 17960.
Reason for the trading strategy (technically):
Price is now back to testing our major support area once again. We remain bullish looking to buy above major support at 15456 (Fibonacci retracement, horizontal overlap support, bullish price action) for a further bounce up to test the 17960resistance again (Fibonacci retracement, horizontal overlap resistance).

Reason for the trading strategy (fundamentally):
We’re starting to see bitcoin take quite a beating recently. This is largely due to the negative news surrounding it, especially those long-unresolved problems with Bitcoin’s infrastructure. Bitcoin buyers are running into problems where the network’s really high transaction fees make it unusable for purchases in reality and Coinbase has halted trading in Bitcoin Cash over concerns that the exchanges’ employees may have engaged in insider trading. All these are seeming to shake up investor’s confidence quite a bit.

MEX_Exchange · December 26, 2017, 1:25am

Date: December 26, 2017

AUDUSD approaching major resistance, prepare to sell!

Sell below 0.7739. Stop loss at 0.7821. Take profit at 0.7580.
Reason for the trading strategy (technically):
Price is approaching major resistance at 0.7739 (Fibonacci retracement, horizontal pullback resistance) and we expect a strong reaction off this level to push price down to at least 0.7580 support (Fibonacci retracement, horizontal breakout support level).
Stochastic (34,3,1) is seeing major resistance below 98% and we expect a strong reaction off this level.

NZDUSD right below resistance, prepare to sell!

Sell below 0.7055. Stop loss at 0.7181. Take profit at 0.6822.
Reason for the trading strategy (technically):
Price is starting to test major resistance at 0.7055 (Fibonacci retracement, horizontal overlap resistance) and we expect a strong reaction off this level to push price down to at least 0.6822 support (Fibonacci extension, horizontal swing low support).
Stochastic (34,3,1) is seeing major resistance below 97% and we expect a strong drop from here.

USDCHF prepare for a reversal

Sell below 0.9898. Stop loss at 0.9925. Take profit at 0.9843.
Reason for the trading strategy (technically):
Price is now testing major resistance at 0.9898 (descending resistance, horizontal overlap resistance, Fibonacci retracement, bearish divergence) and we expect to see a strong drop from here towards 0.9843 support (Fibonacci extension, horizontal swing low support).
Stochastic (34,3,1) is seeing major resistance below 97% and also sees bearish divergence vs price, signalling that a reversal is impending.

Bitcoin forming a strong continuation pattern, prepare for further drop

Sell below 13430. Stop loss at 14920. Take profit at 11156.
Reason for the trading strategy (technically):
Price has dropped strongly and is starting to form a triangle formation which is a precursor for a further drop. We look to sell when price breaks our support at 13430 (Fibonacci retracement, horizontal swing low support, triangle formation) for a strong push down to 11156 (Major swing low support, Fibonacci extension).
Stochastic (21,5,3) remains under bearish pressure.

MEX_Exchange · December 27, 2017, 2:29am

Date: December 27, 2017

AUDUSD right on resistance, time to sell

Sell below 0.7739. Stop loss at 0.7821. Take profit at 0.7580.
Reason for the trading strategy (technically):
Price is now right below major resistance at 0.7739 (Fibonacci retracement, horizontal pullback resistance) and we expect a strong reaction off this level to push price down to at least 0.7580 support (Fibonacci retracement, horizontal breakout support level).
Stochastic (34,3,1) is seeing major resistance below 98% and we expect a strong reaction off this level.

NZDUSD testing resistance, time to go short

Sell below 0.7055. Stop loss at 0.7181. Take profit at 0.6822.
Reason for the trading strategy (technically):
Price is now starting to test major resistance at 0.7055 (Fibonacci retracement, horizontal overlap resistance) and we expect a strong reaction off this level to push price down to at least 0.6822 support (Fibonacci extension, horizontal swing low support).
Stochastic (34,3,1) is seeing major resistance below 97% and we expect a strong drop from here.

USDCHF forming a nice reversal with a lot of divergence

Sell below 0.9898. Stop loss at 0.9925. Take profit at 0.9843.
Reason for the trading strategy (technically):
Price has been testing our selling area forming even more divergence. We remain bearish below major resistance at 0.9898 (descending resistance, horizontal overlap resistance, Fibonacci retracement, bearish divergence) and we expect to see a strong drop from here towards 0.9843 support (Fibonacci extension, horizontal swing low support).
Stochastic (34,3,1) is seeing major resistance below 97% and also sees bearish divergence vs price, signalling that a reversal is impending.

Bitcoin shot up without triggering our sell entry. Now testing strong resistance.

Sell below 15889. Stop loss at 17446. Take profit at 12840.
Reason for the trading strategy (technically):
Price has shot up without triggering our sell entry yesterday. We now see that bitcoin is testing major resistance at 15889 (Fibonacci retracement area, horizontal overlap resistance, Fibonacci extension) and we expect to see a strong drop from this level towards 12840 support (Fibonacci extension, horizontal swing low support).
Stochastic (34,5,3) is seeing major resistance at 96% where we expect a corresponding drop from.

MEX_Exchange · December 28, 2017, 3:50am

Date: December 28, 2017

AUDUSD Daily Key Elements

AUDUSD major levels of resistance:
0.8170 (3 Year High, 100% Fibonacci extension, 161.8% Fibonacci extension)
0.7890 (61.8% Fibonacci retracement, horizontal overlap resistance)

AUDUSD major levels of support:
0.7630 (Intermediate support level)
0.7520 (Fibonacci retracement, Fibonacci extension, Horizontal overlap support)
0.7370 (Fibonacci retracement, Horizontal swing low support)

AUDUSD technical indicators:
RSI (34) is seeing support above our 41% level.

AUDUSD Strategic View:
Major resistance broken, time to go long

Buy above 0.7733. Stop loss at 0.7628. Take profit at 0.7881.
Reason for the trading strategy:
Price has broken a key level of resistance opening a strong bullish move. We look to buy above 0.7733 support (Fibonacci retracement, horizontal overlap support) for a strong push up to at least 0.7881 resistance (Fibonacci retracement, horizontal overlap resistance).
RSI (34) sees an ascending support line hold bullish momentum up.

GBPUSD Daily Key Elements

GBPUSD major levels of resistance:
1.3850 (Fibonacci retracement, Horizontal pullback resistance)

GBPUSD major levels of support:
1.3340 (Fibonacci retracement, Horizontal overlap support)
1.2630 (Fibonacci retracement, Horizontal overlap support)

GBPUSD technical indicators:
Stochastic (34,5,3) is reacting off resistance at 96% with good downside potential

**GBPUSD Strategic View: **
Major resistance broken, remain bullish with added conviction

Buy above 1.3309. Stop loss at 1.3202. Take profit at 1.3522.
Reason for the trading strategy:
Price has finally broken our major descending resistance-turned-support line triggering a strong bullish move from here. We look to buy above major support at 1.3309 (Fibonacci retracement, horizontal overlap support) for a bounce up to at least 1.3522 resistance (Fibonacci extension, horizontal swing high resistance).
Stochastic (55,3,1) has also broken through its descending resistance line with a bullish exit, signalling that a rise should be expected from here.

EURUSD Daily Key Elements

EURUSD major levels of resistance:
1.2050 (Long term horizontal pullback resistance, Fibonacci extension)

EURUSD major levels of support:
1.1560 (Horizontal overlap support)

EURUSD technical indicators:
Stochastic (89,5,3) is reversing perfectly from our 96% resistance.

EURUSD Strategic View:
Prepare to sell on major resistance

Sell below 1.1961. Stop loss at 1.2012. Take profit at 1.1841.
Reason for the trading strategy:
Price is slowly creeping up towards major resistance at 1.1961 (61.8% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing high resistance) and we expect a strong reaction off that level to push price down to at least 1.1841 support (Fibonacci retracement, horizontal overlap support).
Stochastic (55,3,1) is approaching major resistance at 98% where we expect a corresponding reaction from.

USDJPY Daily Key Elements

USDJPY major levels of resistance:
118.60 (Fibonacci retracement, horizontal pullback resistance)
114.50 (Fibonacci retracement, horizontal swing high resistance, bearish divergence)

USDJPY major levels of support:
107.00 (Fibonacci retracement, horizontal overlap support)

USDJPY technical indicators:
Stochastic (21,5,3) is in the middle of a range.

**USDJPY Strategic View: **
Prepare to sell below major resistance

Sell below 113.76. Stop loss at 114.54. Take profit at 112.13.
Reason for the trading strategy:
Price is approaching major resistance at 113.76 (76.4% Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) and we expect a strong reaction off this level to push price down to at least 112.13 support (Fibonacci retracement, multiple horizontal swing low support).
Stochastic (55,3,1) is dropping nicely from our 97% resistance with good downside potential.

USDCAD Daily Key Elements

USDCAD major levels of resistance:
1.3840 (Fibonacci retracement, Fibonacci projection)
1.2960 (Fibonacci retracement, horizontal pullback resistance)

USDCAD major levels of support:
1.2200 (Fibonacci retracement, swing low support)
1.2040 (Fibonacci retracement, Fibonacci projection, Horizontal swing low support)
1.1400 (Fibonacci projection)

USDCAD technical indicators:
Stochastic (34,5,3) is seeing major resistance at 97%.

USDCAD Strategic View:
Profit target reached perfectly, remain bearish on the break of major support

Sell below 1.2654. Stop loss at 1.2943. Take profit at 1.2078.
Reason for the trading strategy:
Price has dropped perfectly and has reached our profit target. We now prepare to sell with a clean break below 1.2654 resistance (Fibonacci retracement area, horizontal overlap support) as if price breaks this area, we can expect a strong drop towards 1.2078 support (Fibonacci extension, horizontal swing low support).
RSI (34) also sees descending resistance as bearish momentum indicators.