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Investment Recommendations April 10th

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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)

 

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.

Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.



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4 Comments

4 Comments

  1. jedashford

    April 10, 2017 at 3:57 pm

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

    • Mate Cser

      April 11, 2017 at 3:46 pm

      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.

  2. Ershad

    April 10, 2017 at 5:23 pm

    Hi Mate,

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

    • Mate Cser

      April 11, 2017 at 3:51 pm

      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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Cryptocurrencies

Trade Recommendation: Ethereum

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The price bounced from 300.00 level. RSI and a reversal candlestick pattern confirmed price reversal. MACD supports upward movement and DMI allows opening long trades. Pending orders for buy should be placed above the local swing at 318.00 level. Stop orders should be placed below 300.00 support at 286.00 level. Profit targets are 350.00 and 390.00 levels. If you don’t use leverage, recommended trading volume for this trade is up to 10% from your deposit.

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Market: ETHUSD
Buy: 318.00
Stop: 286.00
Profit Targets: 350.00 and 390.00

The trading signal is based on Poloniex chart.

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Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.



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Trade Recommendation: GBPJPY

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The price bounces from the support zone formed by the uptrend line and 148.00 support level. RSI confirms price reversal. MACD is going to support upward movement and DMI allows opening long trades. We have buy opportunity. Pending order can be placed above the previous high at 149.50 level. Stop orders should be below the local swing low at 147.80 level. Profit target are 152.70 and 159.80 levels. Don’t risk more than 3% from your deposit in this trade.

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Market: GBPJPY
Buy: 149.50
Stop: 147.80
Profit Targets: 152.70 and 159.80

Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.



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Cryptocurrencies

Trade Recommendation: Zcash

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The price bounced from 220.00 support level. RSI and a reversal candlestick pattern confirmed price reversal. DMI shows range market conditions and we can wait for a volatility breakout with further strong price movement. In order to catch such movement we should placed pending orders for buy at 235.00 level. Buying from this level, we do it not far from the possible bottom. Stop orders must be at 212.00 level which is below the local swing low. Profit targets are 300.00 and 400.00 levels. If you don’t use leverage, recommended trading volume for this trade is up to 10% from your deposit.

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Market: ZECUSD
Buy: 235.00
Stop: 212.00
Profit Targets: 300.00 and 400.00

The trading signal is based on Poloniex chart.

// -- Become a yearly Platinum Member and save 69 USD and get access to our secret group on Workplace. Click here to change your current membership -- //
Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.



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