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Trade Recommendation: NZD/PHP

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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.

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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.

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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

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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3.7 stars on average, based on 168 rated postsKiril is a financial professional with 4+ years of experience in financial writing, analysis and product ownership. He has passed all three CFA exams on first attempt and has a bachelor's degree with a specialty in finance. Kiril’s current focus is on cryptocurrencies and ETFs, as he does his own crypto research and is the subject matter expert at ETFdb.com. He also has his personal website, InvestorAcademy.org where he teaches people about the basics of investing. His ultimate goal is to help people with limited knowledge of finance and investments to create investment portfolios easily, and in line with their unique circumstances.




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Trade Recommendation: Populous

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The Populous/Bitcoin (PPT/BTC) pair launched its uptrend on January 7, 2018 when it took out resistance of 0.0032. This triggered the cup and handle reversal pattern on the daily chart. The breakout attracted so much momentum that the pair quickly became parabolic. With its supercharged velocity, PPT/BTC skyrocketed to 0.007901 on January 31. In less than a month, the market rose by almost 147%.

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At this price point, the pair was in extreme overbought territory. Those who bought the breakout took the opportunity to lock in gains. This ignited a massive selling frenzy that drove the pair down to 0.0015159 on March 9.

The higher the climb, the greater the fall. This is what often happens to any asset that goes parabolic.

Fortunately for bottom pickers, PPT/BTC rallied to slightly over 0.0032 resistance on April 17. While the market has been pulling back since, it appears that bulls are beginning to make their presence felt.

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Technical analysis reveals that Populous/Bitcoin is carving a bullish higher low setup at 0.0017. Volume began to spike on May 15 when the pair hovered above this level and it remained elevated for the next seven days. This tells us that bulls are ready to buy positions at higher price point. More importantly, PPT/BTC managed to stay above 0.0017 even in the midst of intense selling pressure.

The strategy is to bottom fish the market and buy as close to 0.0017 as possible. As long as the market stays above the support, bulls have all the momentum they need to climb to our target of 0.0032.

The process may take a month.

Daily Chart of Populous/Bitcoin on Binance

As of this writing, the Populous/Bitcoin pair is trading at 0.0018697 on Binance.

Summary of Strategy

Buy: As close to 0.0017 as possible.

Target: 0.0032

Stop:  0.00165

 

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.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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3.7 stars on average, based on 168 rated postsKiril is a financial professional with 4+ years of experience in financial writing, analysis and product ownership. He has passed all three CFA exams on first attempt and has a bachelor's degree with a specialty in finance. Kiril’s current focus is on cryptocurrencies and ETFs, as he does his own crypto research and is the subject matter expert at ETFdb.com. He also has his personal website, InvestorAcademy.org where he teaches people about the basics of investing. His ultimate goal is to help people with limited knowledge of finance and investments to create investment portfolios easily, and in line with their unique circumstances.




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Trade Recommendation: NZDUSD

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This trade recommendation is setting up quickly and requires prompt attention.

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This is a short term buy trade. The New Zealand Dollar has a very long Hammer candle on the 60 minute chart that has pierced the 6 Day Rolling Pivot Range, the Opening Range and the Daily Pivot Range. This is a bullish setup.

With additional support from the Weekly Pivot Range below the candle we can be confident that this is a high probability trade setup.

So, the action to take is to place a buy order to enter the market long if the price trades above the 0.69440 level. Using the 60 minute chart we will want to buy on a break above this level which will confirm the market wants to move higher. Place your stop just below the Hammer candle low and the profit targets stated below.

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Entry Price: 0.69440
Stop Loss: 0.69170
Profit Targets: First profit target 0.69720. Second profit target is 0.69850.

Disclaimer: Disclaimer: The writer has no positions in the forex markets but does engage in short-term trading of forex and futures.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4 stars on average, based on 56 rated postsI am the founder of VirtuesTrading.com, where traders can learn to use my Virtues Trading System. Formerly a Commodity Trading Advisor, I got my start in the Energy and Precious Metals Options & Futures pits of the New York Mercantile Exchange. I operate on the premise of efficient markets, the management of risk through the analyzation of price action and technical indicators. I have a BA in International Relations from the University of Southern California.




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Trade Recommendation: GBPUSD

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This trade recommendation is setting up quickly and requires prompt attention

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The British Pound is sitting on the Daily Pivot Range as support which coincides with the 14 Day Pivot Moving Average. The uptrend line from the last 48 hours is intact and remains supportive.

The price has been in a channel for the last many hours and could be ready for a move out of the sideways trend.

With good support on a narrow channeling with a triangle formation we have a setup with a close stop loss level, which gives us an ideal risk reward ratio.

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So, the action to take is to place a buy order to enter the market long if the market trades above the 1.34370 level. Using the 60 minute chart we will want to buy on a break above this level which will confirm the market wants to move higher. Place your stop at the swing low and the profit targets stated below.

Entry Price: 1.34370
Stop Loss: 1.34120
Profit Targets: First profit target 1.34820. Second profit target is 1.34960.

Disclaimer: Disclaimer: The writer has no positions in the forex markets but does engage in short-term trading of forex and futures.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4 stars on average, based on 56 rated postsI am the founder of VirtuesTrading.com, where traders can learn to use my Virtues Trading System. Formerly a Commodity Trading Advisor, I got my start in the Energy and Precious Metals Options & Futures pits of the New York Mercantile Exchange. I operate on the premise of efficient markets, the management of risk through the analyzation of price action and technical indicators. I have a BA in International Relations from the University of Southern California.




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