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Trade Recommendation: Zcash/Ethereum
Published 19 hours ago on June 25, 2018
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The Zcash/Ethereum pair (ZEC/ETH) went into sideways consolidation on April 3, 2018 when it respected resistance of 0.50. This pushed the pair down to support of 0.35 on May 11. At this price level, bulls started to show up. This can be seen in the increase in volume from May 13 – May 15, which lifted the pair to as high as 0.55 on May 14.
Bulls attempted to take out the resistance as they worked hard to stay above 0.50 for a few days. However, those who bought the bottom took it as an opportunity to take profits. As a result, ZEC/ETH broke below 0.50 on May 19. This started a waterfall event as those who bought the breakout rushed to get out of the market.
The pair has been looking extremely bearish. Nevertheless, the bottom appears to be in place.
Technical analysis show that ZEC/ETH is respecting support of 0.35. This view comes after the pair went was low as 0.3479 on June 24 but bulls swooped in to defend the support. Also, we can see a bullish crossover as the MACD line moves above the signal line. Lastly, the 4-day, 8-day, and 21-day moving averages are reversing their direction.
The strategy is to buy as close to 0.35 as possible. If bulls once again preserve the support, the market will most likely bounce to our target of 0.50. We’ll revisit the trade once the target is hit.
The process may take a month.
Daily Chart of ZEC/ETH on Binance
As of this writing, the Zcash/Ethereum pair is trading at 0.36251 on Binance.
Summary of Strategy
Buy: As close to 0.35 as possible.
Target: 0.50
Stop: 0.347
Disclaimer: The writer owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.
Featured image courtesy of Shutterstock.
Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.
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Kiril Nikolaev
3.7 stars on average, based on 182 rated posts
Kiril is a financial professional with 4+ years of experience in financial writing, analysis and product ownership. He has passed all three CFA exams on first attempt and has a bachelor's degree with a specialty in finance. Kiril’s current focus is on cryptocurrencies and ETFs, as he does his own crypto research and is the subject matter expert at ETFdb.com. He also has his personal website, InvestorAcademy.org where he teaches people about the basics of investing. His ultimate goal is to help people with limited knowledge of finance and investments to create investment portfolios easily, and in line with their unique circumstances.
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Trade Recommendation: Short USD/ZAR
Published 7 hours ago on June 26, 2018
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The US Dollar/South African Rand pair (USD/ZAR) started to look bearish in May 2016 when it generated a lower high of 15.98236. Since then, the pair has been generating a series of lower highs and lower lows. The most recent lower low came in February 2018 when it dropped to 11.50776. In a couple of years, the US Dollar lost 28% of its value against the South African Rand.
At this price level, the pair was flashing signs of a bounce. It hovered above oversold territory on the weekly chart. On top of that, volume surged when the pair hit the 11.50 mark. This indicated that bulls were buying the market.
The increased demand catapulted USD/ZAR to as high as 13.91618 in June 2018. Unfortunately for buyers at this level, it looks like the pair will not continue its rally.
Technical analysis reveal that USD/ZAR is respecting the 13.55 resistance. This view comes after the pair printed a long shooting star candle on the weekly chart. This tells us that those who bought at 11.50 levels are taking profits. On top of that, the weekly candle is detached from the 4-day, 8-day, and 21-day moving averages. This suggests that the rally is not sustainable.
The strategy is to short the market as close to 13.55 as possible. If bears can hold on to the resistance, they will send the market to our initial target of 12.50.
The process may take a month.
Weekly Chart of US Dollar/South African Rand on OANDA
As of this writing, the US Dollar/South African Rand pair (USD/ZAR) is trading at 13.54252 on OANDA.
Summary of Strategy
Buy: Short the market as close to 13.55 as possible.
Target: 12.50
Stop: Close above 13.70.
Featured image courtesy of Shutterstock.
Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.
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Kiril Nikolaev
3.7 stars on average, based on 182 rated posts
Kiril is a financial professional with 4+ years of experience in financial writing, analysis and product ownership. He has passed all three CFA exams on first attempt and has a bachelor's degree with a specialty in finance. Kiril’s current focus is on cryptocurrencies and ETFs, as he does his own crypto research and is the subject matter expert at ETFdb.com. He also has his personal website, InvestorAcademy.org where he teaches people about the basics of investing. His ultimate goal is to help people with limited knowledge of finance and investments to create investment portfolios easily, and in line with their unique circumstances.
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Trade Recommendation: EURUSD
Published 17 hours ago on June 25, 2018
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A continuation pattern is setting up for the Euro Currency (EURUSD) as we head into the start of the week. The bias remains to the buy side with the Daily Pivot Range well below our current level. Mixed in with the DPR is the 3 Day and 6 Day Rolling Pivot Ranges which is a good Pivot Stack support level.
The Daily Pivot Moving Averages are turned upward and steep coming off a flat period last week.
The action to take is to buy if the price trades at or above the ‘A” up line for 15 consecutive minutes, and place the stop loss at the Opening Range low if triggered.
Place the profit targets as stated, which are at are just through the Monthly Pivot Range levels (dark green and black dots).
Entry Price: 1.16743
Stop Loss: 1.16410
Profit Targets: First profit target 1.17350. Second profit target 1.17580. Once price reaches the first profit target bring the stop loss to breakeven (entry price).
Disclaimer: Disclaimer: The writer has no positions in the forex markets but does engage in short-term trading of forex and futures.
Featured image courtesy of Shutterstock.
Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.
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Christopher Burton
3.7 stars on average, based on 78 rated posts
I am the founder of VirtuesTrading.com, where traders can learn to use my Virtues Trading System. Formerly a Commodity Trading Advisor, I got my start in the Energy and Precious Metals Options & Futures pits of the New York Mercantile Exchange. I operate on the premise of efficient markets, the management of risk through the analyzation of price action and technical indicators. I have a BA in International Relations from the University of Southern California.
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Trade Recommendation: USD/MXN
Published 1 day ago on June 25, 2018
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The US Dollar/Mexican Peso pair (USD/MXN) began its uptrend in December 2014 when it took out resistance of 14. This triggered the cup and handle pattern on the monthly chart. The price action attracted breakout players who helped push the pair to as high as 22.04012 in January 2017. In about two years, the US Dollar grew by over 57% against the Mexican Dollar.
At this price level, the pair was in extreme overbought territory. Those who bought the breakout used it as an opportunity to take profits. As USD/MXN succumbed to selling pressure, it dropped to as low as 17.45165 in July 2017. The pair has been flashing bullish signals since. This could be your chance to buy the breakout.
Technical analysis reveal that USD/MXN has taken out resistance of 19.88. This activated the large cup and handle reversal pattern on the daily chart. The breakout was affirmed by a rally to 20.96038 on June 15, 2018. However, the pair has been pulling back since. This is an opportunity to buy the confirmation of the breakout.
The strategy is to buy as close to 19.88 as possible. If bulls hold on to the support, they will confirm the breakout and may attract the momentum needed to move to our target of 22.04.
The process may take three months.
Daily Chart of US Dollar/Mexican Peso on OANDA
As of this writing, the US Dollar/Mexican Peso pair (USD/MXN) is trading at 20.017 on OANDA.
Summary of Strategy
Buy: As close to 19.88 as possible.
Target: 22.04
Stop: Close below 19.50.
Featured image courtesy of Shutterstock.
Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.
Rate this post:
Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate. Failed Trade Recommendations should not be rated as that is considered a failure either way.
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Kiril Nikolaev
3.7 stars on average, based on 182 rated posts
Kiril is a financial professional with 4+ years of experience in financial writing, analysis and product ownership. He has passed all three CFA exams on first attempt and has a bachelor's degree with a specialty in finance. Kiril’s current focus is on cryptocurrencies and ETFs, as he does his own crypto research and is the subject matter expert at ETFdb.com. He also has his personal website, InvestorAcademy.org where he teaches people about the basics of investing. His ultimate goal is to help people with limited knowledge of finance and investments to create investment portfolios easily, and in line with their unique circumstances.
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