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Saturday, June 23, 2018

Weekly Trading Forecasts for Major Pairs (June 25 - 29, 2018)


Here’s the market outlook for the week:


EURUSD
Dominant bias: Bearish
The market swung upwards and downwards last week, without a directional movement. Nevertheless, the major bias remains bearish, and the outlook on EUR pairs is mostly bearish for this week. It is possible that price will test the support lines at 1.1600, 1.1550 (which were previously tested last week). Price may also reach the support line at 1.1500, and possibly breach it to the downside. But that will require a heavy selling pressure.

USDCHF
Dominant bias: Bearish
Price went sideways from Monday to Wednesday, and fell on Thursday and Friday, corroborating the outgoing bearish outlook on the market. Both USDCHF and EURUSD are currently bearish: But protracted bearish pressure on the latter may help a bullish signal to be generated on the former. There are support levels at 0.9850 and 0.9800. There are also resistance levels at 0.9900 and 0.9950.

GBPUSD
Dominant bias: Bearish
In the context of a downtrend, price went further southwards, shedding 160 pips and almost testing the accumulation territory at 1.3100. There was an upwards bounce on Thursday, but that would be an opportunity to sell short at higher prices (unless the distribution territory at 1.3400 is breached to the upside). GBP pairs (as well as other major pairs) will experience high volatility this week, and also in the first week of July.


USDJPY
Dominant bias: Neutral
The long-term bias is bullish, but the short-term bias is bearish. Throughout last week, price meandered between the demand level at 109.50 and the supply level at 111.00. Should price continue to move within the confines of the aforementioned demand and supply levels, the short-term bias would remain neutral. Once the confines are breached, a directional movement will resume, and it could most likely favor bulls.

EURJPY
Dominant bias: Bearish   
Just like its USDJPY counterpart, this cross mostly ranged last week (though the recent bias on the market is bearish). For the ranging movement to end, it is either price will breach the demand zone at 127.00 to the downside (going further downwards), or price would need to breach the supply zone at 129.00 to the upside (going further upwards). One of these conditions must be met for the bearish bias to be supported or invalidated; otherwise the trend would become neutral.

GBPJPY
Dominant bias: Bearish  
This cross underwent a heavy selling pressure on July 18 and 19, but bulls pushed price upwards on July 20 and 21. There remains a Bearish Confirmation Pattern in the market, and it would be invalidated only when price moves upwards by 500 pips from here. On the other hand, price could continue falling towards the demand zones at 145.00, 144.50 and 144.00. Price could even go further downwards than that.

 This forecast is concluded with the quote below:

“Trading is a process-oriented endeavor for those who are serious about becoming and remaining a consistently successful trader.” – Dr. Woody Johnson




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        
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