Recommendations
Investment Recommendations April 12th
USD/CAD: Short-Term Buy
USD/CAD, 4-Hour Chart Analysis
The pair has been drifting lower in recent days but it remained relatively strong, despite the rise in the price of oil that usually helps the Canadian Dollar. The cross is now trading near multiple strong support zones that could ignite a new leg up in the ongoing long-term uptrend.
The long-term trend is expected to resume once the current correction runs its course. The 1.3175 level provides a great stop-loss opportunity for a bounce after today’s interest rate decision of the Bank of Canada. Further strong support is found near 1.3150 with the 1.3450 level ahead serving as primary resistance.
EUR/GBP: Short-Term Sell (Update)
EUR/GBP, 4-Hour Chart Analysis
The pair quickly turned lower yesterday afternoon and broke below the 0.85 level. The move justifies a slightly lower stop-loss level for short-term traders. The 0.8550 resistance provides a good choice for the new stop-loss, while long-term traders could leave the stop above the 0.86 resistance for now.
The 0.8450 and 0.84 levels could be in play in the coming days, as traders continue to focus on the French elections and its possible negative effects of the common currency. The current short-term downtrend points to a re-test of the 0.8350 level, as the Pound continues to act relatively strong.
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Recommendations
Trade Recommendation: EURJPY
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.
Market: EURJPY
Buy: 132.05
Stop: 131.60
Profit Targets: 132.50 and 133.00
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Cryptocurrencies
Trade Recommendation: Waves
This trading idea is based on a bullish divergence. It’s a trend reversal signal near the 0.000650 support level. The price diverges with the MACD histogram and RSI.
The MACD lines support upward movement. DMI allows to open long trades. We have buy opportunity. Pending orders should be placed at the 0.000760 level with stop orders at the 0.000620 level. Profit targets are 0.001000 and 0.001300 levels. If you don’t use leverage, the recommended trading volume for this trade is up to 10% from your deposit.
Market: WAVESBTC
Buy: 0.000760
Stop: 0.000620
Profit Targets: 0.001000 and 0.001300
The trading signal is based on Bittrex chart.
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Cryptocurrencies
Trade Recommendation: Stellar
There is a new trading opportunity for Stellar (STR/USD). The price is at a possible reversal zone formed by the uptrend line, 0.016000 support level and Kijun line of the Ichimoku indicator. We should expect a price reversal with further upward movement. DMI confirms trend market conditions and allows us opening long trades. Pending buy orders should be placed at 0.019000 level with stop orders at 0.014500 level. Profit targets are 0.024500 and 0.030000 resistance levels. If you don’t use leverage, recommended trading volume for this trade is up to 5% from your deposit.
Market: STRUSD
Buy: 0.019000
Stop: 0.014500
Profit Targets: 0.024500 and 0.030000
The trading signal is based on Poloniex chart.
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