☆ Daily Technical Analysis by MEX Exchange ☆

MEX_Exchange · March 2, 2018, 2:14am

Date: March 2, 2018

NZDUSD right on major resistance, time to sell

**Intro: NZDUSD has made a pullback to major resistance, good opportunity to start selling. **

Sell below 0.7277. Stop loss at 0.7308. Take profit at 0.7187.
Reason for the trading strategy (technically):
Price has made a pullback to our major resistance area at 0.7277 (Multiple Fibonacci retracement, horizontal overlap resistance) and we expect a strong reaction from this level to push price down to 0.7187 support (Fibonacci extension, horizontal swing low support).
Stochastic (34,5,3) is seeing major resistance below 95% where a corresponding reaction could occur.

EURUSD on pullback resistance, time to sell

Intro: EURUSD is now on major pullback resistance, good opportunity to enter!

Sell below 1.2272. Stop loss at 1.2371. Take profit at 1.2079.
Reason for the trading strategy (technically):
Price is now testing descending resistance and Ichimoku resistance along with major resistance at 1.2272 (Fibonacci retracement, horizontal pullback resistance). A drop can occur from here to push price down to 1.2079 support (Fibonacci retracement, horizontal pullback support). We do have to keep a look out for major support at 1.2172 which needs to be broken before a further drop can be expected.
RSI (34) sees descending resistance maintain our bearish bias.

USDCHF profit target reached perfectly once again, time to buy

Intro: USDCHF dropped strongly from our selling area and reached our profit target. Time to start buying again.

Buy above 0.9408. Stop loss at 0.9375. Take profit at 0.9486.
Reason for the trading strategy (technically):
Price has dropped strongly from our selling area and reached our profit target perfectly. We are now seeing major support at 0.9408 (Fibonacci retracement, horizontal overlap support, ascending support) and a strong bounce could occur at this level to push price up to 0.9486 resistance (Fibonacci extension, horizontal swing high resistance).
Stochastic (34,5,3) is seeing major support above 3.3% where a corresponding bounce could occur.

Bitcoin approaching strong resistance, prepare to sell

Intro: Bitcoin is once again approaching strong resistance. Good opportunity to sell.

Sell below 11194. Stop loss at 11548. Take profit at 10397.
Reason for the trading strategy (fundamentally):
We’re seeing some mixed news on cryptocurrencies so far with Singapore’s MAS weighing the need to introduce new rules to protect cryptocurrency investors. This signals that a new regulatory framework would be needed and also that the MAS is paying close attention to domestic cryptocurrency activities. Along with that, not only are America’s biggest banks worried about cryptocurrency competition, but US regional banks like WesBanco and IberiaBank are also worried. This is a good sign that cryptocurrency is going in the right direction if it’s causing the big players to get uncomfortable.
Reason for the trading strategy (technically):
Price has risen strongly and is now testing major resistance at 11194 (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance, Elliott wave structure) and a strong reaction could occur at this level to push price down to 10397 support (Fibonacci retracement, horizontal overlap support)
Stochastic (34,5,3) is seeing major resistance below 94% where a corresponding reaction could occur.

MEX_Exchange · March 5, 2018, 1:36am

Date: March 5, 2018

EURUSD testing major resistance, time to start selling

Intro: EURUSD is starting to test major resistance which is a good opportunity to start selling from.

Sell below 1.2355. Stop loss at 1.2422. Take profit at 1.2166.
Reason for the trading strategy (technically):
Price is testing major resistance at 1.2355 (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) and a strong reaction could occur at this level to push price down to 1.2166 resistance (Fibonacci extension, horizontal swing low support).
Stochastic (34,5,3) is seeing major resistance at 97% where a corresponding reaction could occur.

GBPUSD testing strong resistance, prepare to sell

Intro: GBPUSD is at a good selling entry opportunity with major resistance holding it down.

Sell below 1.3808. Stop loss at 1.3880. Take profit at 1.3639.
Reason for the trading strategy (technically):
Price is now testing major resistance at 1.3808 (Fibonacci retracement, horizontal overlap resistance, Fibonacci extension, Ichimoku cloud resistance) and a strong reaction could occur at this level to push price down towards 1.3639 support (long term Fibonacci retracement, horizontal pullback support).
Stochastic (34,5,3) is seeing major resistance at 96% where a corresponding reaction could occur.

USDCAD right at selling area, time to sell

Intro: USDCAD is testing major resistance and is at a great level to sell from.

Sell below 1.2908. Stop loss at 1.2983. Take profit at 1.2731.
Reason for the trading strategy (technically):
Price is now testing major resistance at 1.2908 (Fibonacci extension, horizontal swing high resistance) and a strong reaction could occur at this level to push price back down towards 1.2731 support (Fibonacci retracement, horizontal overlap support, Fibonacci extension).
Stochastic (34,5,3) is seeing major resistance at 97% where a corresponding reaction could occur.

Bitcoin has continued to rise strongly, prepare to buy on breakout

Intro: Bitcoin is seeing major resistance which would open a big rise once it is broken.

Buy above 11704. Stop loss at 10972. Take profit at 13030.
Reason for the trading strategy (fundamentally):
The big good news surrounding bitcoin is Liechtenstein-based family bank, Bank Frick, has become one of the first banks in the world that allows clients to directly invest in cryptocurrencies. This is a big step and stamp of approval for bitcoin and the other major cryptocurrencies such as litecoin, Ripple and ether. This move marks the latest effort among financial institutions in the region to move to support the growth of cryptocurrency and block chain development.
Reason for the trading strategy (technically):
Price is seeing major resistance at 11704 (Fibonacci retracement, horizontal swing high resistance) which needs to be broken before it opens a bigger move up to 13030 resistance (Fibonacci retracement, horizontal overlap resistance). It’s nice to see that price has broken our long term descending resistance-turned-support line signalling that we’re likely to see a change in momentum from bearish to bullish.
RSI (34) is holding well above our ascending support.

MEX_Exchange · March 6, 2018, 2:23am

Date: March 6, 2018

EURUSD back to major resistance, remain bearish

Intro: EURUSD has risen back to our major selling level resistance, great opportunity to sell from.

Sell below 1.2355. Stop loss at 1.2422. Take profit at 1.2166.
Reason for the trading strategy (technically):
Price had dropped really strongly yesterday and has risen back to test our major resistance at 1.2355 (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance). We forecast a strong reaction could occur at this level to push price down to 1.2166 resistance (Fibonacci extension, horizontal swing low support).
Stochastic (34,5,3) is seeing dropping nicely with good downside potential for the rest of our drop.

EURJPY testing strong resistance, time to sell

Intro: EURJPY is testing strong descending resistance presenting us with a good opportunity to enter this short trade.

Sell below 131.24. Stop loss at 132.26. Take profit at 129.45.
Reason for the trading strategy (technically):
Price is testing strong resistance at 131.24 (Multiple Fibonacci retracement, Fibonacci extension, descending resistance) and a strong reaction could occur at this level to push price down to 129.45 support (Fibonacci extension, horizontal swing low support).
Stochastic (34,5,3) is seeing major resistance at 97% where a corresponding reaction could occur.

USDJPY approaching resistance, prepare to sell

Intro: USDJPY is seeing some really strong resistance, good opportunity to get into a short trade.

Sell below 106.47. Stop loss at 107.34. Take profit at 104.77.
Reason for the trading strategy (technically):
Price is seeing strong resistance at 106.47 (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance, descending resistance) and a strong reaction could occur at this price to push it down to 104.77 support (Fibonacci extension). We do have to watch out for intermediate support at 105.24 (horizontal swing low support) which needs to be broken to open a further drop.
RSI (89) sees descending resistance hold price down really well with its bearish momentum.

Bitcoin still unable to break out major resistance, keep an eye on this setup

Intro: Bitcoin is still unable to break out major resistance which would open a strong recovery.

Buy above 11704. Stop loss at 10972. Take profit at 13030.
Reason for the trading strategy (fundamentally):
There has not been any significant news in the bitcoin industry recently which has led to prices stagnating. The biggest drivers, if any, have been largely negative as cryptocurrency exchange Coinbase has been hit by a class action lawsuit over alleged insider trading during its launch of bitcoin cash. Such market manipulation is strongly frowned upon and always affects the confidence of investors in a particular asset. In this case, no result of the investigation conducted by Coinbase has been revealed to assure investors too.
Reason for the trading strategy (technically):
Price has hovered below our buy entry yesterday and is unable to break above it. We are still seeing major resistance at 11704 (Fibonacci retracement, horizontal swing high resistance) which needs to be broken before it opens a bigger move up to 13030 resistance (Fibonacci retracement, horizontal overlap resistance). It’s nice to see that price has broken our long term descending resistance-turned-support line signalling that we’re likely to see a change in momentum from bearish to bullish.
RSI (34) is holding well above our ascending support.

MEX_Exchange · March 7, 2018, 1:54am

Date: March 7, 2018

AUDUSD back to major support, prepare for a bounce

AUDUSD is now testing a really strong support level and is lining up nicely for us to buy.

Buy above 0.7781. Stop loss at 0.7752. Take profit at 0.7887.
Reason for the trading strategy (technically):
Price shot up really strongly yesterday and is now back to testing major support at 0.7781 (Fibonacci retracement, horizontal overlap support, breakout level) and a strong bounce could occur at this level to push price up to 0.7787 resistance (Fibonacci retracement, horizontal overlap resistance).
RSI (55) has made a bullish exit and is also seeing intermediate support hold it up really nicely.

**GBPUSD broken major resistance, time to buy **

GBPUSD is rising nicely and we expect it to rise further to our major descending resistance.

Buy above 1.3864. Stop loss at 1.3816. Take profit at 1.3995.
Reason for the trading strategy (technically):
Price has broken major resistance and is now rising strongly. We remain bullish above 1.3864 (Fibonacci retracement, horizontal overlap support, bullish Ichimoku cloud) for a push up to at least 1.3933 before 1.3995. It’s important to take note of the strong descending resistance line as price is likely to be attracted to that level and would see its first resistance once it touches the descending resistance.
RSI (89) sees two descending resistance lines, with the long term one signalling a bullish exit and more upside potential while the short term RSI signalling that it’s still facing strong bearish pressure.

USDJPY dropping nicely, remain bearish for a further drop

USDJPY has dropped really nicely and has good downside potential.

Sell below 105.85. Stop loss at 106.53. Take profit at 104.77.
Reason for the trading strategy (technically):
Price has dropped strongly from our selling area yesterday. We now adjust our position to sell below resistance at 105.85 (Fibonacci retracement, horizontal pullback resistance) for a further drop to 105.24 (horizontal swing low support) before 104.77 support (Fibonacci extension).
RSI (34) sees descending resistance line hold price down really well.

Bitcoin broken major support, time to sell

Bitcoin has broken major ascending support triggering a big sell off.

Sell below 11086. Stop loss at 11939. Take profit at 9381.
Reason for the trading strategy (fundamentally):
The big news surrounding cryptocurrency lately is Venezuela’s National Assembly declaring that petro cryptocurrency is illegal and perhaps more damaging – that it is just another way that a corrupt government is seeking to embezzle funds from citizens which in decent years has been rocked by high unemployment and inflation. This news further dampens the optimism surrounding the potential for cryptocurrency with the idea of supporting corruption constantly being linked to it.
Reason for the trading strategy (technically):
Price has broken our long term ascending support-turned-resistance line triggering a sell off. We look to sell below major resistance at 11086 (breakout level, Fibonacci retracement, horizontal pullback resistance) for a strong drop towards our next major support at 9381 (Fibonacci retracement, horizontal overlap support).
RSI (89) has made a similar bearish exit confirming the drop we should be expecting.

MEX_Exchange · March 8, 2018, 1:50am

Date: March 8, 2018

AUDUSD bounced perfectly, remain bullish for a further rise

AUDUSD has bounced perfectly from our buying level, still has good upside potential.

Buy above 0.7781. Stop loss at 0.7752. Take profit at 0.7887.
Reason for the trading strategy (technically):
Price had bounced above our buying level perfectly yesterday and is rising towards our profit target. We see immediate resistance at 0.7833 (Fibonacci retracement, horizontal overlap resistance) which needs to be broken to trigger a further rise towards our next major resistance at 0.7787 (Fibonacci retracement, horizontal overlap resistance). Our major support remains at 0.7781 (Fibonacci retracement, horizontal overlap support, breakout level).
RSI (55) has made a bullish exit and is also seeing intermediate support hold it up really nicely.

NZDUSD looking really bullish, time to buy

NZDUSD has completed a double bottom reversal and is looking really nicely setup to rise further.

Buy above 0.7276. Stop loss at 0.7251. Take profit at 0.7341.
Reason for the trading strategy (technically):
Price has formed a sort of double bottom reversal and our major support remains at 0.7276 (Fibonacci retracement, horizontal overlap support, double bottom exit) and we look to buy above this level for a push up towards 0.7341 resistance (Fibonacci retracement, horizontal swing high resistance). We do have to keep a watch out for immediate resistance at 0.7307 (Fibonacci retracement, horizontal overlap resistance) which needs to be broken to open a further rise.
RSI (34) sees ascending support hold up our bullish momentum really well.

USDJPY starting to break out nicely, time to turn bullish

USDJPY has started to form a bullish exit, time to start buying to play the breakout.

Buy above 105.85. Stop loss at 105.40. Take profit at 107.09.
Reason for the trading strategy (technically):
Price has started to break out of our descending resistance-turned-support line signalling that a change in momentum should be expected. We look to buy above major support at 105.85 (Fibonacci retracement, horizontal overlap support, breakout level) for a push up to at least 107.09 resistance (Fibonacci retracement, horizontal swing high resistance). We do have to be cautious with our immediate resistance at 106.44 (Fibonacci retracement, horizontal overlap resistance) which needs to be broken to open a further bullish recovery.
RSI (34) sees descending resistance which coincides with our resistance at 106.44. A break above our descending resistance needs to occur before a further rise can be expected.

Bitcoin profit target reached perfectly, time to play the bounce

Bitcoin has reached our profit target. Now bouncing off major support, time to buy.

Buy above 9381. Stop loss at 8897. Take profit at 10728.
Reason for the trading strategy (fundamentally):
One of the bigger news surrounding cryptocurrency recently has to do with Japanese authorities reportedly preparing to crack down on cryptocurrency exchanges by issuing ‘administrative punishment notices’ and suspending others from doing business – largely in response to the country’s FSA discovering issues with exchanges’ customer protection and AML procedures. It’s a good effort by the FSA to more stringently regulate Japan’s cryptocurrency exchanges after Coincheck admitted to losing roughly 500 million NEM tokens from its digital wallets.
Reason for the trading strategy (technically):
Price has dropped perfectly from our selling area and has reached our profit target. We look to buy above major support at 9381 (Fibonacci retracement, horizontal overlap support, Fibonacci extension) for a bounce up to at least 10728 resistance (Fibonacci retracement, horizontal breakout level).
RSI (34) sees major support above 34% and a corresponding bounce could occur at this level in line with our short term recovery on price.

MEX_Exchange · March 9, 2018, 2:27am

Date: March 9, 2018

AUDUSD is testing major support, prepare to sell on break

AUDUSD has dropped and is testing major support. We look to sell if it breaks this support level.

Sell below 0.7781. Stop loss at 0.7819. Take profit at 0.7717.
Reason for the trading strategy (technically):
Price is testing major support at 0.7781 (Fibonacci retracement, horizontal overlap support, ascending support) and a break of this level would open a bigger drop to 0.7177 support (Fibonacci extension, horizontal swing low support).
RSI (34) can also see a long term bearish descending resistance line holding price down and a recent bearish exit of our short term ascending support-turned-resistance line is signalling a potential drop from here.

AUDJPY testing strong resistance, prepare to sell

AUDJPY is seeing multiple strong resistances giving us a good opportunity to sell.

Sell below 83.30. Stop loss at 84.27. Take profit at 81.58.
Reason for the trading strategy (technically):
Price is testing major resistance at 83.30 (Multiple Fibonacci retracement, horizontal overlap resistance, descending resistance) and a strong reaction could occur at this level to push price down to 81.58 support (Fibonacci extension, horizontal swing low support).
Stochastic (55,5,3) is also seeing major resistance below 88-95% resistance where a corresponding drop could occur.

USDJPY rising perfectly, remain bullish for a further rise

USDJPY has shot up perfectly and has surpassed our intermediate resistance, leading to a further rise.

Buy above 106.41. Stop loss at 106.18. Take profit at 107.09.
Reason for the trading strategy (technically):
Price has rose perfectly to our first profit target and has surpassed that level. We are now seeing major support at 106.41 (breakout level, Fibonacci retracement, horizontal overlap support) that should provide the support we need to see price push up to 107.09 resistance (Fibonacci retracement, horizontal swing high resistance).
RSI (34) has made a nice bearish exit from our long term descending resistance-turned-support line signalling that a rally is expected.

Bitcoin still bouncing off major support, remain bullish

Bitcoin continues to test our major support, remain bullish for another bounce while keeping a tight stop loss.

Buy above 9381. Stop loss at 8897. Take profit at 10728.
Reason for the trading strategy (fundamentally):
The big news event on the horizon is the US Congress set to hold a hearing next week on cryptocurrencies and initial coin offerings (ICOs). The hearing would largely be educational in nature and stated the Financial Services Committee members have a growing interest in learning more about the subjects and the implications of the tech’s use in areas like remittances. This foray into the world of cryptocurrencies and embracing it instead of turning against it is a good sign for cryptocurrencies in general.
Reason for the trading strategy (technically):
Price made a bounce yesterday before dropping to our support level once again. We remain bullish above major support at 9381 (Fibonacci retracement, horizontal overlap support, Fibonacci extension) for a bounce up to at least 10728 resistance (Fibonacci retracement, horizontal breakout level).
RSI (34) sees major support above 34% and a corresponding bounce could occur at this level in line with our short term recovery on price. We can also see bullish divergence vs price signalling that a bounce is impending.

MEX_Exchange · March 12, 2018, 3:36am

Date: March 12, 2018

AUDUSD has broken major resistance, time to buy

AUDUSD has broken out of our long term descending resistance-turned-support line and looks poised to rise further.

Buy above 0.7838. Stop loss at 0.7805. Take profit at 0.7894.
Reason for the trading strategy (technically):
Price has made a bullish exit of long term descending resistance-turned-support and we look to buy above major support at 0.7838 (Fibonacci retracement, Horizontal overlap support, bullish exit) for a push up to at least 0.7894 resistance (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance).
RSI (55) has made a similar bullish exit signalling that a change in momentum from bearish to bullish is happening.

NZDUSD testing major resistance, time to sell

NZDUSD is at a good opportunity to sell.

Sell below 0.7306. Stop loss at 0.7341. Take profit at 0.7249.
Reason for the trading strategy (technically):
Price is testing major resistance at 0.7306 (Fibonacci retracement, horizontal overlap resistance, Fibonacci extension) and a strong drop could occur at this level to push price all the way down to 0.7249 support (Fibonacci retracement, horizontal swing low support). We do have to be cautious about 0.7276 intermediate support as price might bounce off there.
Stochastic (34,5,3) is seeing major resistance below 95% where a corresponding reaction could occur.

USDJPY has reached our profit target perfectly, prepare for further rise

USDJPY has made another bullish exit with great upside potential.

Buy above 106.48. Stop loss at 105.81. Take profit at 108.51.
Reason for the trading strategy (technically):
Price has rose perfectly to our profit target and looks poised to rise further after breaking a strong descending resistance-turned-support line. We look to buy above 106.48 (Fibonacci retracement, horizontal overlap support, breakout level) for a push up to 108.51 (Fibonacci retracement, horizontal pullback resistance). We do have to be cautious about 107.78 resistance as price might react off that level.
RSI (89) has made a similar bullish exit signalling a change in momentum from bearish to bullish.

Bitcoin has formed a double bottom, prepare for a strong bounce!

Bitcoin has formed a really nice reversal pattern, good opportunity to buy for a rally.

Buy above 9394. Stop loss at 8380. Take profit at 11713.
Reason for the trading strategy (fundamentally):
The big news event is Tennessee Senate moving ahead to block the trustees of public, post-retirement benefit funds form making investments into cryptocurrencies. The bill if passed, would mark the first time public trustees would be banned form investing in cryptocurrencies for retirement funds. This is a big hit to the cryptocurrency world as it could spark the beginning of other states taking on similar actions.
Reason for the trading strategy (technically):
Price has formed a strong double bottom reversal with breakout level at 9394 (Fibonacci retracement, horizontal overlap support, breakout level) and we hope to see price shoot all the way up to 11713 (horizontal swing high resistance, Fibonacci extension). We do have to be cautious with our intermediate short-term target at 10289 (Fibonacci retracement, horizontal pullback resistance).
Stochastic (89,5,3) is seeing strong support above 4.6% and is rising nicely with good upside potential.

MEX_Exchange · March 13, 2018, 2:53am

Date: March 13, 2018

AUDNZD testing strong resistance, prepare to sell

AUDNZD is testing strong harmonic resistance and looks poised to drop from here.

Sell below 1.0797. Stop loss at 1.0833. Take profit at 1.0706.
Reason for the trading strategy (technically):
Price is testing major resistance at 1.0797 (Fibonacci extension, bearish harmonic formation) and a strong reaction could occur at this level to push price down towards 1.0706 support (Fibonacci retracement, horizontal swing low support). Our stop loss is at 1.0833 which is just above a major swing high and Fibonacci retracement to give our trading setup ample breathing space.
Stochastic (34,5,3) is seeing nice resistance at 93% where a corresponding drop could occur.

EURNZD on major support, prepare for a bounce

EURNZD is in major fractal support, strong possibility of a bounce occurring.

Buy above 1.6818. Stop loss at 1.6716. Take profit at 1.7094.
Reason for the trading strategy (technically):
Price is testing and has bounced off major support at 1.6818 (Fibonacci retracement, horizontal swiung low support, ascending support, bullish harmonic formation) and a strong bounce could occur at this level to push price all the way up to 1.7094 resistance (Fibonacci extension, horizontal swing high resistance). We do have to be wary of our intermediate resistance at 1.6973 (Fibonacci retracement, horizontal pullback resistance).
Stochastic (89,5,3) is seeing strong support above 1.1% where a corresponding bounce could occur.

GBPUSD on major resistance, time to sell

GBPUSD is testing major resistance and has presented us a good opportunity to sell.

Sell below 1.3923. Stop loss at 1.4005. Take profit at 1.3722.
Reason for the trading strategy (technically):
Price is testing major resistance at 1.3923 (Fibonacci retracement, horizontal overlap resistance, descending resistance) and a strong reaction could occur at this level to push prices down to 1.3722 support (Fibonacci extension, horizontal swing low support). We do have to be cautious of intermediate support at 1.3793 (Fibonacci retracement, horizontal swing low support) which price might bounce off as it approaching our profit target.
Stochastic (34,5,3) is seeing major resistance at 96% where a corresponding reaction could occur.

Bitcoin testing intermediate support, remain bullish

Bitcoin is on short term support, opportunity to play a bounce from here.

Buy above 8838. Stop loss at 8380. Take profit at 9868.
Reason for the trading strategy (fundamentally):
There aren’t many huge news event that have affected bitcoin and cryptocurrencies in general, although there has been some good news with South Korea’s ban on initial coin offerings (ICOs) being potentially eased in the coming months. However, cloud mining service Genesis Mining has been hit with a cease-and-desist order because the model that they were using – where buyers essentially purchase an amount of computing power over a period of time hosted elsewhere – was deemed as ‘constitute investment contracts and are thus securities’ under South Carolina law. This is seen as negative news as it essentially means such an effective model of mining cryptocurrencies cannot be further used.
Reason for the trading strategy (technically):
Price is testing support at 8838 (Fibonacci extension, Fibonacci retracement, horizontal overlap support) and an intermediate bounce could occur from here to push prices back up to major resistance at 9868 (Fibonacci retracement, horizontal swing high resistance).
Stochastic (21,5,3) is seeing major support above 9.6% where a corresponding bounce could occur.

MEX_Exchange · March 14, 2018, 2:46am

Date: March 14, 2018

AUDUSD is above strong support, remain bullish

AUDUSD has made a bullish exit and is hovering over a strong support area, great opportunity to go long.

Buy above 0.7837. Stop loss at 0.7776. Take profit at 0.7983.
Reason for the trading strategy (technically):
Price is hovering nicely above major support at 0.7837 (Fibonacci retracement, horizontal pullback support, ichimoku cloud, ascending support) and a bounce can push us up to at least 0.7983 resistance (Fibonacci retracement, horizontal swing high resistance).
RSI (55) sees that we’ve made a bullish exit of our long term descending resistance line and our short term ascending support is holding our momentum up really nicely.

USDJPY has made a strong bullish exit, upcoming rally

USDJPY has shifted momentum strongly towards being bullish and we’re at a good level to enter a long trade.

Buy above 106.35. Stop loss at 105.40. Take profit at 108.45.
Reason for the trading strategy (technically):
Price has made a bullish exit of our long term descending resistance-turned-support line meaning our momentum is shifting from bearish to bullish. We look to buy above major support at 106.35 (Fibonacci retracement, horizontal overlap support) for a strong push up to 108.45 resistance (Fibonacci retracement, horizontal pullback resistance). We do have to be cautious of intermediate resistance at 107.82 (Fibonacci retracement, horizontal swing high resistance).
RSI (89) sees a bullish exit on RSI signalling a shift in momentum from bearish to bullish too.

GBPUSD has broke major resistance, time to go long

GBPUSD has broken major resistance and is lining up perfectly for a strong rally.

Buy above 1.3923. Stop loss at 1.3864. Take profit at 1.4068.
Reason for the trading strategy (technically):
Price has broken major descending resistance-turned-support line and looks poised to rally from here. We look to buy above major support at 1.3923 (Fibonacci retracement, horizontal overlap support, bullish Ichimoku cloud) for a push up to at least 1.4068 resistance (Fibonacci retracement, horizontal swing high resistance).
RSI (55) has made a similar bullish exit signalling that we’re really seeing a shift in momentum.

Bitcoin has bounced perfectly, remain bullish for a further rise

Bitcoin has made a bullish exit of our triangle formation, lining up nicely for a strong rally.

Buy above 8838. Stop loss at 8380. Take profit at 9868.
Reason for the trading strategy (fundamentally):
The big upcoming news event today is the “Examining Cryptocurrencies and ICO Markets” held by a subcommittee of the U.S. House of Representatives Financial Services Committee. The degree of legal expertise tapped for the panel suggests that the discussion is likely to revolve around regulatory topics, especially on the question of classifying some tokens as securities. The mood around the whole meeting is generally positive with Gaincarlo remarking that they owe it to this new generation to respect their enthusiasm for virtual currencies, with a thoughtful and balanced response, and not a dismissive one.
Reason for the trading strategy (technically):
Price has broken out nicely from our triangle formation leading to a strong bounce. We remain bullish above 8838 support (Fibonacci retracement, Fibonacci extension, horizontal overlap support) for a push up to at least 9868 resistance (Fibonacci retracement, horizontal swing high resistance).
Stochastic (89,5,3) is seeing strong support above 9.6% and has good upside potential for our rise.

MEX_Exchange · March 15, 2018, 2:05am

Date: March 15, 2018

AUDJPY prepare to sell on break of major support

AUDJPY has broke our intermediate support but still has to break a big support level to open a bearish move.

Sell below 83.30. Stop loss at 84.06. Take profit at 81.58.
Reason for the trading strategy (technically):
Price has made a bearish exit of our ascending support-turned-resistance line and still has one major resistance to break to open a big bearish drop. We look to sell on the break of 83.30 (Fibonacci retracement, horizontal overlap support, Fibonacci extension) for a drop all the way to 81.58 support (Fibonacci extension, horizontal swing low support).
RSI (34) has made a similar bearish exit signalling that a drop could also be on the horizon.

USDCHF testing ascending support, prepare for a bounce

USDCHF is seeing some nice support and a nice bounce could occur from here.

Buy above 0.9421. Stop loss at 0.9335. Take profit at 0.9536.
Reason for the trading strategy (technically):
Price is testing strong support at 0.9421 (ascending support, Fibonacci retracement, horizontal overlap support) and a strong bounce could occur from here to push price up to 0.9536 resistance (Fibonacci retracement, horizontal overlap resistance, Fibonacci extension.
Stochastic (34,5,3) is also seeing strong support above 4.2% where a corresponmding bounce could occur.

GBPUSD right on pullback support, remain bullish

GBPUSD has made a nice pullback to our buying entry presenting us a good opportunity to go long again.

Buy above 1.3923. Stop loss at 1.3864. Take profit at 1.4068.
Reason for the trading strategy (technically):
Price has made a pullback to our buying entry and bounced off it nicely confirming that it is a strong area of interest. We look to buy above major support at 1.3923 (Fibonacci retracement, horizontal overlap support, bullish Ichimoku cloud) for a push up to at least 1.4068 resistance (Fibonacci retracement, horizontal swing high resistance).
RSI (89) has made a similar bullish exit signalling that we’re really seeing a shift in momentum.

Bitcoin has broken major resistance, remain bearish

Bitcoin looks poised to drop even further after breaking major resistance.

Sell below 8463. Stop loss at 8870. Take profit at 7608.
Reason for the trading strategy (fundamentally):
The biggest news to hit cryptocurrency hard is google announcing that they will be banning ICO and Crypto ads starting in June. This has hit bitcoin hard and the confidence of many of its investors. With facebook already banning them and now what is the largest advertising platform banning them too, there are less and less decent places to advertise.
Reason for the trading strategy (technically):
Price has broken a number of strong support levels and looks poised to drop even further. We look to sell on strength below major resistance at 8463 (Fibonacci retracement, horizontal pullback resistance, Elliott wave structure) for a further drop to at least 7608 support (Fibonacci retracement, Elliott wave structure, Fibonacci extension).
RSI (34) has made a similar bearish exit of our ascending support-turned-resistance line signalling that a further drop could be expected.

MEX_Exchange · March 16, 2018, 2:45am

Date: March 16, 2018

AUDUSD approaching strong support, prepare to buy

AUDUSD is lining up a nice buying opportunity for us, prepare to go long.

Buy above 0.7775. Stop loss at 0.7732. Take profit at 0.7838.
Reason for the trading strategy (technically):
Price is approaching major support at 0.7775 (Fibonacci retracement, horizontal overlap support, pullback support) and a strong bounce could occur at this level to push prices up to 0.7838 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (34,5,3) is seeing strong support above 3.7% where a corresponding bounce could occur.

EURJPY right on major support, time to buy

EURJPY is presenting us with a nice opportunity to go long on.

Buy above 130.62. Stop loss at 129.75. Take profit at 132.35.
Reason for the trading strategy (technically):
Price is testing strong support at 130.62 (Fibonacci retracement, horizontal overlap support) and a strong bounce could occur at this level to push prices up to 132.35 resistance (Fibonacci retracement, horizontal swing high resistance).
Stochastic (34,5,3) is seeing strong support above 4.8% where a corresponding bounce could occur.

GBPUSD right on buying entry, time to get in

GBPUSD is hovering around our buying entry level presenting us with a good opportunity to buy.

Buy above 1.3923. Stop loss at 1.3864. Take profit at 1.4068.
Reason for the trading strategy (technically):
Price continues to test our buying entry perfectly. We look to buy above major support at 1.3923 (Fibonacci retracement, horizontal overlap support, bullish Ichimoku cloud) for a push up to at least 1.4068 resistance (Fibonacci retracement, horizontal swing high resistance).
RSI (89) has made a similar bullish exit signalling that we’re really seeing a shift in momentum. We’re also seeing a pullback to our RSI support where another bounce could occur.

Bitcoin profit target reached, prepare for another drop

Bitcoin dropped perfectly before bouncing up and reacting off our resistance once again.

Sell below 8417. Stop loss at 8870. Take profit at 7608.
Reason for the trading strategy (fundamentally):
The cryptocurrency world has been hit hard once again with South Korean prosecutors raiding three cryptocurrency exchanges this week over suspicions that staff embezzled funds from customers’ accounts, siphoning off money to purchase cryptocurrencies at other exchanges. This has once again hit investors’ confidence learning that the very exchanges they trust could actually be backstabbing them.
Reason for the trading strategy (technically):
Price dropped perfectly to our profit target level before bouncing up and completing the wave 4 elliott wave structure as expected which has led to another drop. We look to sell below 8417 resistance (Fibonacci retracement, horizontal overlap resistance) for a strong push down to 7608 support (Fibonacci extension, Elliott wave structure).
Stochastic (34,5,3) is seeing major resistance at 92% where a corresponding reaction could occur.

MEX_Exchange · March 19, 2018, 2:11am

Date: March 19, 2018

AUDJPY plunged perfectly to our profit target, prepare for a bounce

AUDJPY has reached our profit target and is poised for a bounce.

Buy above 81.47. Stop loss at 80.75. Take profit at 83.31.
Reason for the trading strategy (technically):
Price has dropped perfectly from our selling area and has reached our profit target. We prepare to buy above 81.47 support (Fibonacci extension, major horizontal swing low support) for a bounce up to 83.31 (Fibonacci retracement, horizontal overlap resistance). We do have to be caution of intermediate resistance at 82.56.
Stochastic (34,5,3) is seeing major support above 6% where a corresponding bounce could occur.

EURJPY broken major support, look to sell on strength

EURJPY is in a bearish channel and our goal is to sell on strength to rise the momentum down.

Sell below 130.59. Stop loss at 131.02. Take profit at 129.46.
Reason for the trading strategy (technically):
Price is seeing major resistance at 130.59 (Fibonacci retracement, horizontal overlap resistance, bearish channel) and we expect price to drop from here towards 129.46 support (Fibonacci extension, horizontal swing low support). We keep our stop loss right at 131.02 (Fibonacci retracement, horizontal overlap resistance).
RSI (89) is also in a descending channel and we expect it to drop further in parallel with price.

GBPUSD bouncing nicely off our support, remain bullish

GBPUSD is bouncing nicely above our buying entry, we remain bullish for a further rise.

Buy above 1.3923. Stop loss at 1.3864. Take profit at 1.4068.
Reason for the trading strategy (technically):
Price has tested our buying entry and bounced nicely off it showing there are clearly some buyers at that level. We remain bullish looking to buy above major support at 1.3923 (Fibonacci retracement, horizontal overlap support, bullish Ichimoku cloud) for a push up to at least 1.4068 resistance (Fibonacci retracement, horizontal swing high resistance).
RSI (89) has made a similar bullish exit signalling that we’re really seeing a shift in momentum.

Bitcoin profit target reached once again, prepare for a drop

Bitcoin has reached our profit target before bouncing nicely. Prepare for a drop.

Sell below 8590. Stop loss at 8893. Take profit at 7837.
Reason for the trading strategy (fundamentally):
The major news events surrounding cryptocurrency would be Israel’s securities regulator has said that cryptocurrency-related firms may not be listed on the Tel Aviv Stock Exchange (TASE) index because of the high volatility which would be a risk for passive investors whose portfolios track the indices. However, crypto-asset firms can still be traded on the exchange itself. There is some good news though, with Peter Thiel, billionaire co-founder of PayPal, has once again endorsed bitcoin which he recently argued is tantamount to digital gold. This has caused the recent spike in Bitcoin’s prices but there remains a bigger picture of uncertainty surrounding it with Peter Thiel admitting that there is a 50-80% change in will have no value in the future.
Reason for the trading strategy (technically):
Price has dropped perfectly to our profit target before bouncing up nicely. We look to sell below major resistance at 8590 (Fibonacci retracement, horizontal overlap resistance, Elliott wave structure) for a drop once again to support at 7837 (Fibonacci retracement, horizontal pullback support).
Stochastic (34,5,3) is seeing major resistance at 92% where a corresponding reaction could occur.

MEX_Exchange · March 20, 2018, 2:09am

Date: March 19, 2018

AUDJPY Has Bounced Perfectly, Remain Bullish

AUDUSD touched our buy entry and bounced perfectly, we will remain bullish for a further rise.

Buy above 81.47. Stop loss at 80.75. Take profit at 83.31.
Reason for the trading strategy (technically):
Price touched our buying entry and bounced absolutely perfectly as expected. We remain bullish above 81.47 support (Fibonacci extension, major horizontal swing low support) for a bounce up to 83.31 (Fibonacci retracement, horizontal overlap resistance). We do have to be caution of intermediate resistance at 82.56.
Stochastic (34,5,3) is seeing major support above 6% where a corresponding bounce could occur.

CADJPY Testing Major Support, Prepare For A Bounce

CADJPY is starting to show signs of a major reversal, time to start buying.

Buy above 80.58. Stop loss at 79.60. Take profit at 83.46.
Reason for the trading strategy (technically):
Price is seeing major support above 80.58 (Fibonacci extension, major 2 year swing low, Elliott wave structure, bullish divergence) and a strong bounce could occur at this level to push prices all the way up to 83.46 resistance (Fibonacci retracement, horizontal swing high resistance).
Stochastic (89,5,3) is seeing major support above 1.4% where a corresponding bounce could occur. We’re also seeing bullish divergence vs price signalling that a bounce is impending.

EURUSD Right On Resistance, Time To Sell

EURUSD is reversing nicely below strong resistance, good opportunity to start selling.

Sell below 1.2354. Stop loss at 1.2385. Take profit at 1.2295.
Reason for the trading strategy (technically):
Price is testing major resistance at 1.2354 (Fibonacci retracement, horizontal overlap resistance, Fibonacci extension) and a strong reaction could occur at this level to push prices down all the way to 1.2295 support (Fibonacci retracement, horizontal overlap support).
Stochastic (34,5,3) is seeing major resistance at 93% where a corresponding reaction could occur.

Bitcoin Reversing Nicely, Remain Bearish

Bitcoin is reacting nicely off our selling area. We remain bearish waiting for the drop.

Sell below 8590. Stop loss at 8893. Take profit at 7837.
Reason for the trading strategy (fundamentally):
The big news event surrounding cryptocurrency is Donald Trump signing an executive over to impose new sanctions against Venezuela for its controversial “petro” cryptocurrency. This was done as they see that Venezuela is seeking to use the cryptocurrency as a way to circumvent international sanctions. There has been positive news, though, with Britain’s junior finance minister, John Glen, announcing that the government will launch new research aimed to explore the potential risks posed by cryptocurrencies like bitcoin. This is a step towards more wider acceptance of Bitcoin as it would allow them to fully appreciate the value it brings.
Reason for the trading strategy (technically):
Price has risen to our selling area and started to react off it nicely. We remain bearish looking to sell below major resistance at 8590 (Fibonacci retracement, horizontal overlap resistance, Elliott wave structure, bearish divergence) for a drop once again to support at 7837 (Fibonacci retracement, horizontal pullback support).
Stochastic (34,5,3) is seeing major resistance at 92% with good downside potential. We can see bearish divergence vs price which is a good signal that a reversal is impending.

MEX_Exchange · March 21, 2018, 2:03am

Date: March 21, 2018

AUDNZD Is Right On Resistance, Time To Sell

AUDNZD is testing major resistance and presents us with a good opportunity to sell.

Sell below 1.0711. Stop loss at 1.0734. Take profit at 1.0656.
Reason for the trading strategy (technically):
Price is testing major resistance at 1.0711 (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) and a strong reaction could occur at this level to push prices down to 1.0656 support (Fibonacci extension, Fibonacci retracement, horizontal overlap support).
Stochastic (89,5,3) is seeing major resistance at 95% and a corresponding reaction could occur at this level.

NZDUSD Bearish Breakout, Time To Sell

NZDUSD has broken out of our major support, now is a good time to sell.

Sell below 0.7188. Stop loss at 0.7249. Take profit at 0.7032.
Reason for the trading strategy (technically):
Price has made a bearish breakout of our major support level at 0.7188 (Fibonacci retracement, horizontal overlap support) and is poised to drop further from here towards our profit target support level at 0.7032 (Fibonacci retracement, horizontal pullback support).
RSI (89) sees descending resistance hold our prices down really well and adds to our bearish bias.

USDJPY Poised For A Bounce, Time To Buy

USDJPY is reversing nicely and looks set for a nice rally.

Buy above 106.35. Stop loss at 105.40. Take profit at 108.45.
Reason for the trading strategy (technically):
Price has risen above our strong overlap support at 106.35 (horizontal overlap support, Fibonacci retracement) and looks poised to make a rally from here towards 108.45 resistance (Fibonacci retracement, horizontal pullback resistance). We can see intermediate resistance at 107.82 (Fibonacci retracement, horizontal swing high resistance) too which we have to be cautious of.
RSI (89) sees our ascending support line add to our bullish bias.

Bitcoin Testing Major Resistance, Time To Sell

Bitcoin is right on major resistance presenting us a good opportunity to enter into this sell trade.

Sell below 8945. Stop loss at 9511. Take profit at 7920.
Reason for the trading strategy (fundamentally):
The big news event surrounding cryptocurrency is that the world’s economic leaders have set a July deadline for the first step towards unified regulation of cryptocurrency. They all agreed that the technology behind crypto assets has the potential to promote financial inclusion, but the impact on financial stability and potential uses in tax evasion and illegal activities needed to be understood first. Overall, this is a good step towards a broader acceptance of cryptocurrency.
Reason for the trading strategy (technically):
Price has risen further and is now testing major resistance at 8945 (Fibonacci retracement, horizontal pullback resistance, Fibonacci extension). We look to sell below this level for a push down to major support at 7920 (Fibonacci retracement, Fibonacci extension).
Stochastic (34,5,3) is seeing major resistance at 92% where a corresponding drop could occur from.

MEX_Exchange · March 22, 2018, 2:32am

Date: March 22, 2018

GBPCHF Is Testing Major Resistance, Time To Sell

GBPCHF is presenting us with a really good selling opportunity.

Sell below 1.3434. Stop loss at 1.3522. Take profit at 1.3145.
Reason for the trading strategy (technically):
Price is testing major resistance at 1.3434 (Fibonacci extension, bearish harmonic formation) and a strong drop could occur from here to push prices all the way down to 1.3145 (Fibonacci retracement, horizontal pullback support). We have our stop loss at 1.3522 (Fibonacci extension, above major swing high resistance) to give our trade some breathing space.
Stochastic (89,5,3) is seeing major resistance below 96% and a corresponding reaction could occur at this level.

NZDUSD Remain Bearish For A Drop

NZDUSD has made a pullback to strong resistance presenting us with a good opportunity to short it.

Sell below 0.7249. Stop loss at 0.7289. Take profit at 0.7154.
Reason for the trading strategy (technically):
Price has risen since yesterday and is now testing major resistance at 0.7249 (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) and a strong reaction could occur at this level to push prices down to next support at 0.7154 (Fibonacci extension, horizontal swing low support).
Stochastic (34,5,3) is seeing major resistance at 94% where a corresponding reaction could occur.

USDJPY Right On Major Support, Potential Bounce

USDJPY is now testing major swing low support and could see a nice bounce from here.

Buy above 105.56. Stop loss at 104.84. Take profit at 107.88.
Reason for the trading strategy (technically):
Price is seeing strong support above 105.56 (Fibonacci extension, horizontal swing low support) and a strong bounce could occur at this level to push prices up to next resistance at 107.88 (Fibonacci retracement, horizontal swing high resistance, Fibonacci extension).
RSI (55) sees an ascending support line hold up prices really well and is providing immediate support for our current idea.

Bitcoin Remain Bearish Awaiting Our Drop

Bitcoin continues to test our resistance level. We remain bearish on this idea.

Sell below 8945. Stop loss at 9511. Take profit at 7920.
Reason for the trading strategy (fundamentally):
The big news surrounding cryptocurrency is Social Media Giant “Snap” confirming that it has banned ads for initial coin offerings (ICOs). This has caused cryptocurrency as a whole to take a big hit, considering that facebook and google have both announced similar measures with news being that twitter is reportedly about to crack down on ads too. This news, coupled with the recent news that Washington State County has decided to stop reviewing applications for mining facilities, has put a wet blanket over the recent recovery in Cryptocurrency.
Reason for the trading strategy (technically):
Price has hovered around our selling area since yesterday. We remain bearish below our major resistance at 8945 (Fibonacci retracement, horizontal pullback resistance, Fibonacci extension). We look to sell below this level for a push down to major support at 7920 (Fibonacci retracement, Fibonacci extension).
Stochastic (89,5,3) is seeing major resistance below 92% and is starting to drop nicely from it signalling that a reversal could be impending.

MEX_Exchange · March 23, 2018, 2:07am

Date: March 23, 2018

AUDUSD approaching major support, prepare for a bounce

AUDUSD is dropping nicely to Fibonacci fractal support, prepare for a big bounce from here.

Buy above 0.7639. Stop loss at 0.7577. Take profit at 0.7779.
Reason for the trading strategy (technically):
Price is approaching our major support at 0.7639 (78.6% Fibonacci retracement, 100% Fibonacci extension, 61.8% Fibonacci extension) and a strong bounce could occur at this level to push prices all the way up to major resistance at 0.7779 (Fibonacci retracement, horizontal overlap resistance).
Stochastic (55,5,3) is seeing major support above 2.9% where a corresponding bounce could occur.

USDCAD has broken major support, prepare for a big drop

USDCAD has broken our ascending support line triggering a bearish move from here.

Sell below 1.2974. Stop loss at 1.3052. Take profit at 1.2731.
Reason for the trading strategy (technically):
Price has broken our ascending support line triggering a bearish exit. We look to sell below major resistance at 1.2974 (Fibonacci retracement, pullback resistance) for a drop towards major support at 1.2731 (Fibonacci retracement, horizontal overlap support).
RSI (55) has made a similar bearish exit and pullback to its ascending support-turned-resistance line signalling that a further drop is likely.

NZDUSD reversed perfectly, remain bearish for a further drop

NZDUSD dropped perfectly from our selling area, we tighten our stop loss to protect our position.

Sell below 0.7249. Stop loss at 0.7268. Take profit at 0.7154.
Reason for the trading strategy (technically):
Price has reversed perfectly from our selling entry and is working its way towards our profit target. We tighten our stop loss to 0.7268 to protect our profits. We are also seeing intermediate support at 0.7194 (61.8% Fibonacci retracement, 61.8% Fibonacci extension) which could see price bounce off there before dropping further to our major support at 0.7154 (major swing low support, Fibonacci extension).
Stochastic (89,5,3) is seeing major resistance below 93% and is reversing nicely below this level with good downside potential.

Bitcoin dropping nicely, remain bearish for a further drop

Bitcoin has dropped from our selling area nicely and sees a lot of bearish momentum.

Sell below 8758. Stop loss at 9211. Take profit at 7920.
Reason for the trading strategy (fundamentally):
The big news event surrounding Bitcoin is Edward Snowden making an announcement that the big structural flaw that is has, the long-lasting flaw, is its public ledger. The reason for this is because he explains that “you cannot have a lifelong history of everyone’s purchases, all of the interactions be available to everyone and have that work out well at scale”. Also, he also expressed his concern that having a public ledger that documents every transaction history could draw interest from governments that wish to outlaw the technology, as seen in how NSA may be using its powerful surveillance technology to track the blockchain ledger and individual bitcoin users. This has caused Bitcoin to drop sharply recently.
Reason for the trading strategy (technically):
Price has dropped nicely from our selling area and is working its way to our profit target. We see major resistance below 8758 (Fibonacci retracement, horizontal overlap resistance, bearish Ichimoku cloud) which we look to sell below for a push down to major support at 7920 (Fibonacci retracement, Fibonacci extension).
RSI (89) sees a descending resistance line add to our bearish bias on this setup.

MEX_Exchange · March 26, 2018, 1:42am

Date: March 26, 2018

AUDUSD Approaching Major Support, Prepare To Buy

AUDUSD is approaching major support which presents us with a good buying opportunity to play the bounce.

Buy above 0.7639. Stop loss at 0.7577. Take profit at 0.7779.
Reason for the trading strategy (technically):
Price is approaching major support at 0.7639 (Fibonacci retracement, Fibonacci extension, horizontal swing low support) and a nice bounce could occur at this level to push prices up to resistance at 0.7779 (Fibonacci retracement, horizontal overlap resistance).
Stochastic (34,5,3) is seeing strong support above 2.9% and is bouncing up nicely with good upside potential.

NZDUSD Approaching Strong Resistance, Time To Sell

NZDUSD is seeing some strong resistance levels above it, presenting us with a good selling opportunity.

Sell below 0.7277. Stop loss at 0.7305. Take profit at 0.7203.
Reason for the trading strategy (technically):
Price is approaching major resistance at 0.7277 (Fibonacci retracement, Fibonacci extension, horizontal swing high resistance) and a strong reaction could occur at this level to push prices down to 0.7203 support (Fibonacci retracement, horizontal swing low support).
Stochastic (89,5,3) is seeing bearish divergence along with major resistance at 93% signalling that a reversal is impending.

EURUSD Testing Major Resistance, Time To Sell

EURUSD is seeing some really strong resistance push prices down, presenting us with a good shorting opportunity.

Sell below 1.2373. Stop loss at 1.2341. Take profit at 1.2295.
Reason for the trading strategy (technically):
Price is testing major resistance at 1.2373 (Fibonacci retracement, Fibonacci extension, descending resistance, swing high resistance) and a strong reaction could occur at this level to push prices down to support at 1.2295 (Fibonacci retracement, horizontal overlap support).
Stochastic (55,5,3) is seeing major resistance at 97% where a corresponding reaction could occur.

Bitcoin Dropping Perfectly, Remain Bearish

Bitcoin continues to drop as expected, we remain bearish for a further drop.

Sell below 8755. Stop loss at 9089. Take profit at 7920.
Reason for the trading strategy (fundamentally):
The big news surrounding Bitcoin is The Office of Foreign Asset Control (OFAC) announcing that it was considering including digital currency addresses associated with its list of persons and entities with whom U.S. persons and businesses are forbidden to transact business. This list of Specially Designated Nationals (SDNs) includes individuals and entities associated with sanctioned governments, terrorism, trafficking in weapons of mass destructions, and illegal drug trafficking. This has spooked the Bitcoin community quite a bit as people worry about being tainted by association and possibly creating lowering the value of ‘dirty’ coins which has passed through one of the listed addresses.
Reason for the trading strategy (technically):
Price has continued to drop further as expected towards our profit target. We remain bearish as we have now seen a strong bearish exit signalling that additional bearish acceleration could be expected. We look to sell below major resistance at 8755 (Fibonacci retracement, horizontal overlap resistance, bearish Ichimoku cloud) for a push down all the way to major support at 7920 (Fibonacci retracement).
RSI (55) is testing major ascending support and only a break of this major ascending support would trigger a big bearish move.

MEX_Exchange · March 27, 2018, 6:47am

Date: March 27, 2018

AUDJPY Has Made A Bullish Exit, Time To Start Buying

AUDJPY has broken key resistance levels triggering a bullish exit from here. Good opportunity to start buying.

Buy above 81.46. Stop loss at 80.94. Take profit at 82.49.
Reason for the trading strategy (technically):
Price has broken out of key descending and horizontal resistance triggering a rally above 81.46 support (Fibonacci retracement, horizontal overlap support, breakout level) to push prices up to at least 82.49 resistance (Fibonacci retracement, horizontal swing high resistance). We have to be cautious about intermediate resistance at 82.09 (Fibonacci retracement, horizontal swing high resistance).
RSI (89) has made a similar bullish exit signalling that we’ll likely see a strong bullish acceleration from here.

CADJPY Approaching Major Resistance, Prepare To Sell

CADJPY is seeing some major resistance above price presenting us with a good opportunity to sell from.

Sell below 82.77. Stop loss at 83.48. Take profit at 81.29.
Reason for the trading strategy (technically):
Price is approaching major resistance at 82.77 (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance, bearish harmonic formation) and a strong reaction could occur from here to push prices down to major support at 81.29 (Fibonacci retracement, horizontal swing low support).
Stochastic (34,5,3) is seeing major resistance below 98% where a corresponding reaction could occur.

GBPCHF Testing Major Resistance, Time To Sell

GBPCHF is testing strong resistance presenting us with a good selling opportunity.

Sell below 1.3466. Stop loss at 1.3527. Take profit at 1.3335.
Reason for the trading strategy (technically):
Price is testing major resistance at 1.3466 (Fibonacci retracement, horizontal swing high resistance, bearish harmonic formation) and a strong reaction could occur from this level to push prices down to major support at 1.3335 (Fibonacci retracement, horizontal swing low support).
Stochastic (34,5,3) is seeing major resistance below 97% and a corresponding reaction could occur from this level.

Bitcoin Dropped Perfectly To Our Profit Target, Remain Bearish

Bitcoin dropped right to our profit target before bouncing perfectly. We remain bearish for a further drop.

Sell below 8324. Stop loss at 8705. Take profit at 7329.
Reason for the trading strategy (fundamentally):
The big news surrounding cryptocurrency is that twitter has decided to ban ads starting today. Twitter is by and large one of the largest platforms for advertising cryptocurrencies including Bitcoin. Such a move, coupled with Google, youtube, facebook and instagram’s ban on cryptocurrency ads, have left advertisers with little alternative when it comes to advertising their cryptocurrency. This has thrown a large wet blanket over the entire cryptocurrency space as it seems more and more major advertising networks would rather do without the huge advertising revenue than to deal with the rampant scams and bad reputation that cryptocurrency ads bring upon themselves.
Reason for the trading strategy (technically):
Price has dropped perfectly to our profit target once again. We prepare to sell below major resistance at 8324 (Fibonacci retracement, horizontal overlap resistance, bearish Ichimoku cloud, Fibonacci extension) for a further drop to at least 7329 support (Fibonacci extension, horizontal swing low support). We have to be cautious of intermediate support at 7847 (Fibonacci retracement, horizontal swing low support) where price might bounce off before dropping further.
RSI (89) sees a descending resistance line hold prices down really well and add to bearish bias.

MEX_Exchange · March 28, 2018, 1:53am

Date: March 28, 2018

AUDNZD Testing Key Support, Prepare For A Bounce

AUDNZD is now testing a major support level which is a good buying opportunity.

Buy above 1.0551. Stop loss at 1.0474. Take profit at 1.0823.
Reason for the trading strategy (technically):
Price is now testing major support at 1.0551 (Fibonacci retracement, horizontal overlap support, Fibonacci extension, bullish harmonic formation) and a strong bounce could occur at this level to push prices up to at least 1.0823 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (34,5,3) is seeing major support above 2.5% where a corresponding bounce could occur.

AUDUSD Approaching Major Support, Watch For The Bounce

AUDUSD is fast approaching a really key support level where we expect a really strong bounce from.

Buy above 0.7639. Stop loss at 0.7577. Take profit at 0.7779.
Reason for the trading strategy (technically):
Price is fast approaching major support at 0.7639 (Fibonacci retracement, horizontal swing low support, Fibonacci extension) and we expect a strong bounce from this level to push prices up to major resistance at 0.7779 (Fibonacci retracement, horizontal overlap resistance).
Stochastic (55,5,3) is seeing strong support above 2.9% where a corresponding bounce could occur.

NZDUSD Has Broken Major Support, Remain Bearish For A Further Drop

NZDUSD is seeing a bearish acceleration after breaking key ascending support.

Sell below 0.7282. Stop loss at 0.7305. Take profit at 0.7230.
Reason for the trading strategy (technically):
Price has reversed nicely and has made a bearish exit from our ascending support-turned-resistance line. We look to sell below major resistance at 0.7282 (Fibonacci retracement, horizontal overlap resistance) for a push down to major support at 0.7230 (Fibonacci retracement, horizontal swing low support).
RSI (34) sees that we have made a recent bearish exit from our ascending support-turned-resistance level signalling that we could expect more bearish momentum.

Bitcoin Dropped Perfectly To Our Support, Remain Bearish For A Further Drop

Bitcoin is dropping beautifully as expected and we expect further bearish momentum.

Sell below 8027. Stop loss at 8295. Take profit at 7329.
Reason for the trading strategy (fundamentally):
The big news surrounding cryptocurrency is that the European Securities and Markets Authority (ESMA) has toughened its stance on cryptocurrency derivative contracts, lowering the leverage limit for cryptocurrency-related “Contract for difference” (CFD) products to 2:1. This has shook up the industry quite a bit with this new leverage limiting the amount of cryptocurrency that can be easily traded on margin by a retail trader, hence, affecting the overall attractiveness of trading cryptocurrency.
Reason for the trading strategy (technically):
Price has dropped perfectly to our first support target as expected. We now expect further bearishness as we look to sell below major resistance at 0.8027 (Fibonacci retracement, horizontal overlap resistance, bearish Ichimoku cloud, descending channel momentum) for a further push down to major support at 7329 (Fibonacci extension, horizontal swing low support).
RSI (89) has made a bearish exit and also sees strong descending resistance holding its momentum down really well.

MEX_Exchange · March 29, 2018, 3:17am

Date: March 29, 2018

AUDNZD Right On Major Resistance, Time To Sell

AUDNZD is at a good selling opportunity.

Sell below 1.0635. Stop loss at 1.0656. Take profit at 1.0562.
Reason for the trading strategy (technically):
Price is now testing major resistance at 1.0635 (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) and a strong reaction could occur at this level to push prices down to major support at 1.0595 (Fibonacci retracement, horizontal swing low support). We do have to be cautious of intermediate support at 1.0595 (Fibonacci retracement, horizontal overlap support) as price might bounce off there and only a break of that support would open a further drop.
Stochastic (34,5,3) is seeing strong resistance below 95% where a corresponding reaction could occur.

CADJPY Testing Key Resistance, Time To Sell

CADJPY is right on major resistance presenting us with a good selling opportunity.

Sell below 82.77. Stop loss at 83.48. Take profit at 81.29.
Reason for the trading strategy (technically):
Price is testing major resistance at 82.77 (Fibonacci retracement, horizontal overlap resistance, fiboancci extension, bearish harmonic formation) and a strong reaction could occur at this level to push prices down to major support at 81.29 (Fibonacci retracement, horizontal swing low support).
Stochastic (34,5,3) is seeing major resistance below 98% where a corresponding reaction could occur.

EURAUD Testing Strong Ascending Support, Prepare For A Bounce

EURAUD is bouncing nicely off major support presenting us with a good buying opportunity.

Buy above 1.6058. Stop loss at 1.6020. Take profit at 1.6185.
Reason for the trading strategy (technically):
Price is testing major support at 1.6058 (Fibonacci retracement, Fibonacci extension, horizontal overlap support, ascending support) and a strong bounce could occur at this level pushing prices all the way up to major resistance at 1.6185 (Fibonacci extension, horizontal swing high resistance).
Stochastic (21,5,3) is seeing a nice bounce above major support at 6.8% with good further upside potential.

Bitcoin Has Broken Major Resistance, Time To Buy

Bitcoin is seeing a strong change in momentum to bullish after breaking our major resistances.

Buy above 7774. Stop loss at 7536. Take profit at 8265.
Reason for the trading strategy (fundamentally):
The big news surrounding cryptocurrency is that the biggest bank in Denmark, Danske Bank, has released a report criticising cryptocurrencies over perceived risks and lack of transparency. It cites that it does not come with central bank backing, has high volatility and a lack of pricing transparency and lack of regulatory oversight making it a target for criminals. It has then decided to strongly recommend customers to avoid investing in cryptocurrencies and has also phased out the option of buying financial instruments that are linked to the price of cryptocurrencies.
Reason for the trading strategy (technically):
Price has broken our major descending resistance line and has crossed above our Ichimoku cloud signalling that we’re about to see an intermediate correction on Bitcoin. We look to buy above major support at 7774 (Fibonacci retracement, horizontal overlap support, Fibonacci extension) for a bounce towards 8265 resistance (Fibonacci retracement, horizontal overlap resistance, Fibonacci extension).
RSI (55) has also made a bullish exit and sees a short term ascending support line hold it up really nicely.