Investment Recommendations April 10th | Hacked: Hacking Finance
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Investment Recommendations April 10th

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Investment Recommendations April 10th

Introduction

This article was posted on Monday, 15:55, UTC.

Monero: Short-Term Buy

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Monero, 4-Hour Chart Analysis

Monero is showing relative strength once again, as it continues to trade in a bullish consolidation zone above the encouraging base formation below the $19 level. The short-term setup looks to be favorable for a break-out move to test the prior highs near $26. The recent swing low near $20 could be an optimal stop-loss level for short-term traders.

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Long-term could also consider positions, with a wider stop-loss level. The long-term uptrend is still intact and the MACD shows a bullish alignment while still being in the neutral zone. The $23 level could prove as short-term resistance while support is found near $20, $18.60 and below that at $17.

EUR/USD: Short-Term Sell (Update)

 

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EUR/USD, 4-Hour Chart Analysis

The setup that justified our sell recommendation remains intact, as the 4-hour chart shows a strong short-term downtrend. The break below 1.0600 means that stop-loss orders showed be lowered to around the 1.0635-40 zone or slightly above that.

The MACD is once again on a sell signal, and a test of the long-term support between 1.05 and 1.0525 seems more and more likely. Trend-line resistance is found near 1.0595 with further long-term levels at 1.0690 and above that at 1.09.

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Feedback or Requests?

Mate Cser

Mate Cser

Trader and financial analyst, with 10 years of experience in the field. An expert in technical analysis and risk management, but also an avid practitioner of value investment and passive strategies, with a passion towards anything that is connected to the market.

Comments
  • user

    AUTHOR jedashford

    Posted on 3:57 pm April 10, 2017.

    No mention of litecoin? I sold at 8.85 as the stop loss indicated. Lost my shirt 🙁

    • user

      AUTHOR Mate Cser

      Posted on 3:46 pm April 11, 2017.

      Hi jedashford,

      I am sorry that this trade didn’t work out. The short-term stop-loss got triggered for us too, as you can see in the summary of recommendations. We only post updates if the target or the stop-loss got moved for some reason. Litecoin is still interesting in the long run, but the current short-term setup is not convincing enough for a recommendation.

  • user

    AUTHOR Ershad

    Posted on 5:23 pm April 10, 2017.

    Hi Mate,

    Any recommendation of ethereum or ripple? Are we expecting prices to drop or increase this week?

    • user

      AUTHOR Mate Cser

      Posted on 3:51 pm April 11, 2017.

      Hi Ershad,

      Both of those currencies are trading in relatively narrow ranges after a huge move that makes it hard to trade them short-term. A smaller long-term position could be opened in them, but be prepared for some frustrating choppy moves before another strong swing starts.

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