Monero: Short-Term Buy
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.
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)
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.