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.