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Investment Recommendations May 24th

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USD/CAD: Short-Term Buy

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USD/CAD, 4-Hour Chart Analysis

The pair has been declining since it reached the 1.38 level following our recommendation. The declining short-term trend has carried USD/CAD back below the 1.35 level, and it’s now close to the key support near 1.34. The advancing long-term trend channel is still intact and the lower boundary should provide support in the coming days.

The MACD indicator shows deeply oversold levels, and that could boost a coming bounce. The 1.3570 level is a good initial target for the move, with the 1.3650 level ahead as resistance as well. The initial stop-loss order could be placed just below the 1.3375 level.

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Cryptocurrencies

Trade Recommendation: Ethereum

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The price bounced from 300.00 level. RSI and a reversal candlestick pattern confirmed price reversal. MACD supports upward movement and DMI allows opening long trades. Pending orders for buy should be placed above the local swing at 318.00 level. Stop orders should be placed below 300.00 support at 286.00 level. Profit targets are 350.00 and 390.00 levels. If you don’t use leverage, recommended trading volume for this trade is up to 10% from your deposit.

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Market: ETHUSD
Buy: 318.00
Stop: 286.00
Profit Targets: 350.00 and 390.00

The trading signal is based on Poloniex chart.

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Recommendations

Trade Recommendation: GBPJPY

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The price bounces from the support zone formed by the uptrend line and 148.00 support level. RSI confirms price reversal. MACD is going to support upward movement and DMI allows opening long trades. We have buy opportunity. Pending order can be placed above the previous high at 149.50 level. Stop orders should be below the local swing low at 147.80 level. Profit target are 152.70 and 159.80 levels. Don’t risk more than 3% from your deposit in this trade.

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Market: GBPJPY
Buy: 149.50
Stop: 147.80
Profit Targets: 152.70 and 159.80

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: Zcash

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The price bounced from 220.00 support level. RSI and a reversal candlestick pattern confirmed price reversal. DMI shows range market conditions and we can wait for a volatility breakout with further strong price movement. In order to catch such movement we should placed pending orders for buy at 235.00 level. Buying from this level, we do it not far from the possible bottom. Stop orders must be at 212.00 level which is below the local swing low. Profit targets are 300.00 and 400.00 levels. If you don’t use leverage, recommended trading volume for this trade is up to 10% from your deposit.

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Market: ZECUSD
Buy: 235.00
Stop: 212.00
Profit Targets: 300.00 and 400.00

The trading signal is based on Poloniex chart.

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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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