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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Trade Recommendation: NZD/PHP

The New Zealand Dollar/Philippine Peso pair (NZD/PHP) started its bull run in May 2009 when it took out resistance of 30. The solid base below 30 helped sustain a long bull run that saw the market go as high as 39.155 in March 2014. In about five years, the New Zealand Dollar grew by over 30% against the Philippine Peso.
Unfortunately for buyers at this level, trend followers began to take profits. The market dropped to 36.902 in June 2014 before bottom pickers stepped in to buy the dip. Bulls tried to keep the momentum alive but they could only carry the market to 38.558 in the same month. With a lower high in place, the pair broke 38 support in July 2014.
From that point, the pair generated a series of lower highs and lower lows until it bottomed out at 29.196 in September 2015. NZD/PHP has been rallying since. It’s may be in a good position to take out resistance of 38.
Technical analysis show that the New Zealand Dollar/Philippine Peso pair is ripe for a bullish reversal as it threatens to breach resistance of 38. Bollinger bands are beginning to contract which means that we may see increased volatility soon. With a bullish bias, the volatility might be the catalyst that takes the market above 38 and trigger the large cup and handle pattern on the weekly chart.
The strategy is to buy the breakout at 38. If bulls complete the breakout, they will likely create a base and may climb to our target of 46. The process may take a year.
Weekly Chart of NZD/PHP
As of this writing, the NZD/PHP pair is trading at 37.521
Summary of Strategy
Buy: Breakout at 38.
Target: 46
Stop: 36.5 after the breakout.
Featured image courtesy of Shutterstock
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Trade Recommendation: VCash/Bitcoin

The Vcash/Bitcoin pair (XVC/BTC) pair launched its bull run on December 25, 2017 when it took out resistance of 0.00006. The price action triggered the rounding bottom reversal pattern on the daily chart which catapulted the pair to as high as 0.00008801 on January 15, 2018. In the less than one month, XVC/BTC grew by over 46%.
As the market achieved the target of the reversal pattern, breakout players started to dump positions. The pair dropped to 0.00005443 on January 17. While bottom pickers bought the dip, they could only inspire a dead cat bounce to 0.00006822 on January 18. The lower high was a signal that bulls are no longer in control.
Market participants responded by locking gains or cutting losses to preserve their capital. XVC/BTC then posted a series of lower highs and lower lows until recent price action.
Technical analysis show that Vcash/Bitcoin has broken below 0.000035 support on April 5. However, bulls stepped in and lifted the pair to as high as 0.00004035, today April 23. This indicates that the break below 0.000035 was a false breakdown. The bear trap could ignite a rally that can push the market to our target.
The strategy is to buy as close to 0.000038. As long as 0.000035 support holds, the market may have enough momentum to climb to our target of 0.00006.
The process may take a month.
Daily Chart of XVC/BTC on Poloniex
As of this writing, the Vcash/Bitcoin pair is trading at 0.00003896 on Poloniex.
Summary of Strategy
Buy: As close to 0.000038 as possible.
Target: 0.00006
Stop: 0.000035
Disclaimer: The writer owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.
Featured image courtesy of Shutterstock.
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Trade Recommendation: NZD/HKD

The New Zealand Dollar/Hong Kong Dollar pair ignited its bull run on May 2009 when it took out resistance of 4.50. With a solid base below 4.50, the pair sustained a long uptrend that propelled it to as high as 6.89126 in August 2011. In just over two years, the New Zealand Dollar rose by 53% against the Hong Kong Dollar. Those who followed the trend started to take profits.
As the market succumbed to selling pressure, it dropped to 5.7469 in November 2011. The pair worked hard to stay above 5.80 support while creating a series of higher lows to keep its uptrend alive. With all that effort, however, the market could only generate a lower high of 6.84868 in July 2014.
The price action was a signal that bulls were exhausted. Participants began to dump their positions to preserve their capital gains. The heavy selling pressure forced the pair to snap 5.80 support in May 2015. From that point, the market posted consecutive red candles on the monthly chart until it found the bottom at 4.71929 in August 2015. NZD/HKD has been rallying since, and it appears primed to start another uptrend.
Technical analysis show that the New Zealand Dollar/Hong Kong Dollar pair is poised to take out resistance of 5.80 and trigger the large cup and handle reversal pattern on the weekly chart. Looking at the RSI, the pair is far from overbought territory. It has a lot of room complete the breakout and stay above 5.80.
The strategy is to buy the breakout at 5.80. If bulls complete the breakout, they will likely create a base and may crawl to our target of 6.75. The process may take a year.
Weekly Chart of NZD/HKD on OANDA
As of this writing, the NZD/HKD pair is trading at 5.65688.
Summary of Strategy
Buy: Breakout at 5.80.
Target: 6.75
Stop: 5.65 after the breakout.
Featured image courtesy of Shutterstock
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