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Investment Recommendations May 12th

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Gold: Long-Term Buy

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Gold, Daily Chart Analysis

Gold has been trending lower since the first round of the French elections, and it dipped $80 to hit $1220 this week. The re-test of the previous low near $1195 is still possible, as we are approaching a possible cycle low in the coming two weeks. That said, the risk-reward ratio for a long-term purchase is already favorable, with a likely test of the $1315 level in the next long-term swing higher.

Stop-loss orders should be placed just below the $1195 support, although the $1180 level could also be considered for a more robust position. The upper boundary of a long-term triangle pattern is right now at $1270, and a break above that level would confirm the new bull market. The initial target zone for the trade is just above $1300, while a push towards $1350 is also possible.

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3 Comments

3 Comments

  1. majykman

    May 12, 2017 at 4:28 pm

    what do you think about crypto backed by gold such as dubai based onegram which has an ico in 8days?

  2. Mate Cser

    May 12, 2017 at 5:36 pm

    Hi, the premise of the ICO is intriguing (sharia compliance and the gold backing) but this field might get really crowded really soon, so I suggest to treat this ICO with a grain of salt as usual. I will relay your question to our experts to look into this particular ICO.

  3. majykman

    May 13, 2017 at 7:57 pm

    Thanks!

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Trade Recommendation: USDCHF

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This is a short term trade. The price is at the possible reversal zone formed by the support level and SMA100. RSI confirmed price reversal in the oversold zone. MACD supports further upward movement. ADX line of DMI falls and it allows us opening long trades. It’s a new trading opportunity. Buy orders can be placed at 0.99200 with stop at 0.98950 level. Profit targets are 0.99500 and 0.99800 resistance levels. The 4H chart confirms the uptrend but the daily chart looks bearish. If the market can break 0.99000 support level, it will be a signal of downward movement. That’s why it’s strongly recommended to use stop orders with long trades opened based on this trading signal. Don’t risk more than 3% from your deposit in this trade.

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Market: USDCHF
Buy: 0.99200
Stop: 0.98950
Profit Targets: 0.99500 and 0.99800

Disclaimer: The analyst does not have investments in USDCHF.

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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: Stellar

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The price bounces from the support zone formed by the uptrend line, SMA100 and the support level. RSI confirms price reversal. MACD histogram supports upward movement and DMI allows opening long trades. It’s trading opportunity. Buy orders can be placed at 0.00000870 level with stop orders at 0.00000720 level. Profit targets are 0.00001200 and 0.00002000 levels. The daily chart does not give us strong bullish signals, that’s why this buy signal is more risky than it could be. You should invest small part of your deposit in this market or skip this trading opportunity. If you don’t use leverage, trading volume for this trade is up to 10% from your deposit.

Market: STRBTC
Buy: 0.00000870
Stop: 0.00000720
Profit Targets: 0.00001200 and 0.00002000

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The trading signal is based on Poloniex chart.
Disclaimer: The analyst does not have investments in Stellar.

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: USDJPY

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This is a short term trade for the market which can be pushed down after a good upward movement. The price bounced from 113.60 level and RSI confirmed price reversal. MACD lines support downward movement. DMI is bullish but ADX line falls and it tells us that the bulls are not so strong. The higher time frame also gives bearish signals. We have trading opportunity now. Pending orders for sell can be placed at 113.42 level with stop orders at 113.62 level. Profit targets are 113.20 and 113.00 levels. Don’t risk more than 3% from your deposit in this trade.

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Market: USDJPY
Sell: 113.42
Stop: 113.62
Profit Targets: 113.20 and 113.00

Disclaimer: The analyst does not have investments in USDJPY.

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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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