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Investment Recommendations April 19th

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Investment Recommendations April 19th

Introduction

EUR/USD: Short-Term Sell

 

EUR/USD, 4-Hour Chart Analysis

The pair index seems to be developing a declining trend, although yesterday’s surge pushed the Euro above the short-term resistance. The French election is expected to weigh on the common currency in the coming days, and the brief jump provides a possibly great entry position to capitalize from the flight to safety.

A narrow stop-loss order might be used near the 1.0750 level, while the initial target of 1.0610 looks optimal. Long-term resistance lies ahead at 1.09 while the 1.0575 level provides support for the Euro. A negative outcome of the French election could open the way for a re-test of the 1.0350 zone.

Bitcoin: Long-Term Buy (update)

 

Bitcoin, 4-Hour Chart Analysis

Bitcoin bounced lower off the 1215 resistance, as we expected, but the uptrend remains clearly intact, and the declining trend-line that defined the deep correction is now broken, suggesting at least re-test of the all-time highs near $1300.

The cryptocurrency still has to fight its way through the strong resistance zone just above the current rate, and a dip below $1170 would warn of further consolidation. The most important support zone still looks to be near the $1100 level, but a more aggressive stop-loss level could be placed around $1135 now.

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Mate Cser

Mate Cser

Trader and financial analyst, with 10 years of experience in the field. An expert in technical analysis and risk management, but also an avid practitioner of value investment and passive strategies, with a passion towards anything that is connected to the market.

Comments
  • user

    AUTHOR titaniumdave

    Posted on 2:13 am April 20, 2017.

    Mate,
    I’m new to hacked.com. What time-frame constitutes a “short term” buy or sell on a 4-hr chart? Are you looking ahead days, weeks?

    • user

      AUTHOR Mate Cser

      Posted on 3:03 pm April 20, 2017.

      Hi Dave,

      welcome to the team! Our short-term picks are based on the 4-hour chart, with the “swings” and trends of that time-frame being used as triggers. Here is an article from our Trading 101 series in the topic. This means that the positions are usually held for a few days to a couple of weeks. Of course, we are always trying to catch larger trends, so holding on to a part of your position after the initial target is hit is a great option. The long-term recommendations are based on the daily charts. If you have any more questions please feel free to ask anytime!

      Mate

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