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Investment Recommendations April 11th

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EUR/GBP: Short-Term Sell

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EUR/GBP, 4-Hour Chart Analysis

The Euro remains under pressure, as the worries regarding the French elections continue to weigh on the common currency. The Pound has recovered well against its major peers after the recent correction, despite the slew of negative economic news regarding the British economy last week.

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The pair is in a clear short-term downtrend with a strong overhead resistance zone near 0.86.  The 0.8465 and 0.8420 levels provide short-term support for the cross.  Trend-line resistance is right at the current rate, with the lower boundary of the channel pointing to a re-test 0f the 0.84 level.

Bitcoin: Long-Term Buy (Update)

 

Bitcoin, 4-Hour Chart Analysis

The continued bullish price action of Bitcoin justified another lift of the stop-loss level of our long-term buy recommendation. The current stop loss level is just below the $1100 level, while our initial target is still ahead at $1290. A breakout to new highs could open up the road to $1500 for the cryptocurrency.

The MACD is still slightly bearish, as the momentum of the advance remains weak. Below the $1100 level, further support is sound near $1070, while the “last-resort” support zone is between $950 and $1000, in the form of the lower boundary of the long-term trend channel.

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: Syscoin

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The market bounced from the support level and broke SMA100. It gave us a trend reversal signal. MACD and DMI support upward movement. We can use the local swing high and a breakout signal for opening long trades. Entry level is 0.000037 with stop orders below the support at 0.000022 level. Profit targets are 0.000050 and 0.000060 levels. If you don’t use leverage, recommended trading volume for this trade is up to 5% from your deposit.

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Market: SYSBTC
Buy: 0.000037
Stop: 0.000022
Profit Targets: 0.000050 and 0.000060

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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Cryptocurrencies

Trade Recommendation: Lisk

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The price of Lisk diverged with the MACD and RSI, giving us a trend reversal signal. Also, the RSI confirms price reversal from the support level and MACD supports upward movement. DMI allows us to open long trades. It’s a buy signal.

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Pending orders should be placed above SMA50 and the local high at 0.000930 level. Stop orders must be at 0.000780 level. Profit targets are The 0.001200 and 0.001400 resistance levels. If you don’t use leverage, recommended trading volume for this trade is up to 5% from your deposit.

Market: LSKBTC
Buy: 0.000930
Stop: 0.000780
Profit Targets: 0.001200 and 0.001400

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The trading signal is based on Bittrex chart.

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: EURJPY

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The price diverges with MACD histogram and RSI. It gives us a trend reversal signal and a new buy opportunity. MACD supports upward movement and DMI allows opening long trades. Buy orders should be placed at 132.05 level with stop at 131.60 level. Profit targets are 132.50 and 133.00 levels. Don’t risk more than 3% from your deposit in this trade.

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Market: EURJPY
Buy: 132.05
Stop: 131.60
Profit Targets: 132.50 and 133.00

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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