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Friday, June 22, 2018

Edenville – a false bullish breakout


Edenville stock (LSE:EDL) has experienced what can best be called a false breakout.. The major bias is bearish, and thus, the current bullish breakout could end up being a temporary rally in the context of a downtrend.

Price is above the EMA 11 but it is yet to close above it. Should price close below it, the recent bearish bias on the market will be confirmed. Should price close below it, it would harbinger a clean bullish signal.


The Williams’ % Range period 20 is shooting upwards, but it is not yet in the overbought region.
 The probability of the Williams” % Range period 20 going back into the oversold region is very high.

The outlook on Edenville remains bearish. The market would soon go southwards again, following the ongoing false bullish breakout.


Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

Trading realities: Trading realities

Buy and sell Perfect Money/Payeer/Epay; get funded quickly: www.ituglobalfx.com.ng

Greatland Gold Soars!


Greatland Gold shares (LSE:GGP) are currently soaring, following a frustrating and boring period of trendlessness (January – June 2018). Price soars, thus ending the long-term ranging movement.

The ADX period 14 is above the level 40, showing a very strong momentum. The DM+ is above the DM-, meaning that bulls reign.

The MACD default parameters has its signal lines and histogram above the zero lines. That shows a Bullish Confirmation Pattern in the market. Things are supposed to keep on going northwards.

A “buy” signal has already been generated in the market, and this could just be the beginning of a long-term bullish journey, which ends the recent frustrating base that has been formed in the market.

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

Trading realities: Trading realities 
  

Buy and sell Perfect Money/Payeer/Epay; get funded quickly: www.ituglobalfx.com.ng



Thursday, June 21, 2018

Litecoin (LTC) Daily Price Forecast – June 21


LTC/USD Medium-term Trend: Ranging


Resistance Levels: $100, $102, $104
Support Levels:$96, $94, $92
Yesterday, June 20, price of Litecoin was in a sideways trend but closed trading at a price of $97.60. Price reached the top of the upper band of the Bollinger Bands and it fell. Bollinger Bands acts as a resistance  and a support in the market. Meanwhile, the MACD line and the signal line are neither above nor below the zero line indicating a neutral signal.

Also, price of the cryptoasset is neither above nor below the 12-day EMA and the 26-day EMA indicating that the market is ranging. The relative strength index period 14 is level 50 indicates that price of Litecoin is in the range bound zone. The price of a cryptoasset is likely to continue its range bound movement between the levels of $100 and $90.

LTC/USD Short-term Trend: Bullish

On the 1-hour chart, the price of Litecoin rose and reached the upper band of the Bollinger Bands. Bollinger Bands acted as a resistance to the price and it fell. Nevertheless, MACD line and the signal line are above the zero line indicating a buy signal. Also, price of Litecoin is above the 12-day EMA and the 26-day EMA indicating that the bullish trend is ongoing.

The views and opinions expressed here do not reflect that of BitcoinExhangeGuide.com and do not constitute financial advice. Always do your own research.


Monday, June 18, 2018

Ethereum (ETH) Daily Price Forecast – June 18

ETH/USD Medium-term Trend: Bearish

Resistance Levels : $500, $505, $510
Support Levels: $485, $480, $475
Price of ETH/USD pair was also in a bearish trend. The asset was trading at $520.92 and later fell the low of $460.78. From the 4-hour chart, price touched the lower Bollinger band and also at the second low. This gives the asset a buy signal. Nevertheless, the MACD line and the signal line are neither above nor below the zero line indicating a neutral signal.
In addition, the 12-day EMA and the 26-day EMA are neither below nor above the price of the asset indicating a neutral signal. However, from the price action, the asset had been in a range bound movement.Meanwhile, the relative strength index period 14 is level 45 indicates that price is in the range bound zone.


ETH/USD Short-term Trend: Bearish

On the 1-hour chart, price of Ethereum is in a bearish trend. The MACD line and the signal line are below the zero line indicating a sell signal. In addition, the 12-day EMA and the 26-day EMA are above the price of the asset which indicates that the bearish trend is ongoing.


The views and opinions expressed here do not reflect that of BitcoinExhangeGuide.com and do not constitute financial advice. Always do your own research.
Source: www.bitcoinexchangeguide.com        

Saturday, June 16, 2018

Weekly Trading Forecasts for Major Pairs (June 11 - 15, 2018)


Here’s the market outlook for the week:


EURUSD
Dominant bias: Bearish
The market began the current strong bearish movement in April. This month (especially from early June), price consolidated till June 14, before the large pullback we are currently witnessing. The large pullback has put more emphasis on the dominant bearish bias; thus price is expected to go further southwards this week, reaching the support lines at 1.1600 (an easy target), 1.1550 and 1.1500.



USDCHF
Dominant bias: Bearish
This pair is bearish in the long-term, but bullish in the short-term. It is somewhat weird that both USDCHF and EURUSD have been bearish for some time, but the situation seems about to change. On June 14, there was a sudden bullish breakout, which was strong enough to bring about a short-term bullish signal. There is a possibility that price could keep on going northwards this week, reaching the resistance levels at 1.0000 (an important level), 1.0050 and 1.0100. However, an exceptionally strong buying pressure would be needed for the resistance level at 1.0100 to be reached.


GBPUSD
Dominant bias: Bearish
In the first week of June, Cable consolidated in the context of a downtrend. The same thing happened last week…. before the bearish movement that occurred on Thursday, which points to bears’ supremacy. The weakness in the market is currently visible and since the outlook on GBP pairs is bearish for this month, further southwards movement is expected, which would enable price to reach the accumulation territories at 1.3250, 1.3200 and 1.3150.

USDJPY
Dominant bias: Bullish
USDJPY managed to go upwards last week, and it was able to close above the demand level at 110.50 on Friday. There is a Bullish Confirmation Pattern in the market, which points to the possibility of price going towards the supply levels at 111.00, 111.50 and 112.00. Nonetheless, the further northwards the market goes, the greater the potential of a strong pullback, which can happen before the end of the week.  


EURJPY
Dominant bias: Bearish   
The pullback that occurred on April 14 points to the fact that bears are still a force to reckon with. The major bias on the market is bearish, and since EUR is currently weak, price is supposed to continue moving downwards. The outlook on JPY is bearish for this week – another factor that may contribute to continuous weakness in the market. The next targets are the demand zones at 128.00, 127.50 and 127.00.

GBPJPY
Dominant bias: Bullish  
This trading instrument simply moved in a range last week. Price ranged between the supply zone at 148.00 and the demand zone at 146.00. This week, either the supply zone or the demand zone would be breached forcefully as price assumes a strong, directional movement. The most likely direction is bearish (which may invalidate the extant bullish bias), and that may enable price to reach the demand zones at 146.50, 146.00 and 145.50.

This forecast is concluded with the quote below:

“Regardless of time frame and date, a chart is a chart. The only thing that really changes over the years is how you manage what you see. As long as human beings trade a market, human emotional reaction to the movement of price will cause certain patterns to form.” – Joe Ross


  

  

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