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NZDJPY - Rebound or just a correction? NZDJPY, H4 & Daily The New Zealand dollar is gaining ground this week against the Yen and the US Dollar. The overriding theme has been Yen weakness, which has been subject to a safe-haven premium unwind following the US invitation to senior Chinese officials for fresh trade negotiations, and also the higher Oil prices. The NZDJPY crossed yesterday into the upper Bollinger Bands pattern after ebbing to a 24-month low on Monday at 72.25. The pair has been following a bearish linear Regression Channel since July 2017, something that is likely to continue in the long term, since no break to the upside of the channel has occurred so far. In the medium term though, the rebound from a 2-month low on Monday, away from the lower line of the channel, gave signs that the price action may be due for a change in direction. This, along with the closing above the 20-day SMA yesterday, confirmed that the outlook in the medium term has been turned from negative to positive. Technically-wise the same bullish picture is seen in momentum indicators as well, as daily RSI just crossed above neutral zone with higher lows being noticed since mid-August. MACD is moving in the negative territory, however it moves above its signal line today. Also, if we review the 4-hour chart, we can notice that momentum indicators are strongly supporting the bullish momentum for the pair, as RSI is ready to enter into the overbought territory with further space to be covered to the upside, while MACD extends its lines above neutral zone and above its signal line. As the price has decisively closed above 73.50 immediate Resistance level yesterday, price action could move further to the upside, towards a Resistance area reached on August 30, at 74.45-74.60. This is considered to be a strong resistance area at which the pair could reach and the retrace, since it combines the 50-day SMA, the weekly R3 but also the extension of the middle line of the channel. Support is set at 73.00-73.30 . If this Resistance area breaks, but more precisely, if the median line gets broken in the direction of the trend, this means that a current impulse wave is likely forming, which could provide for a trend continuation signal. Hence further gains above the middle barrier could then target the area around the FE127.2 and August peak, at 75.75-76.30 area. However, please note that the pair, in the long-term, remains within the bearish regression channel, hence in the case of a clear reversal to the downside, doors for the continuation of the downtrend will open again. Intra-day, immediate Resistance level is set at 74.00 and Support is set at 73.50 based on the hourly chart. Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
by HotForex
ETCUSD Ready for Positive MovementThere are many things happening with ETCUSD which makes now an especially good time to take a look at Ethereum Classic. In lieu of the pending release on Coinbase's main platform, those who've wanted to make their exit have all left, leaving a void ready to be filled by the bulls. This correlates nicely with the recent time cycles that Ethereum Classic has been trading in these past couple months- Ethereum Classic closed its most recent short and long cycles by touching the key 12-13 support range. In tandem, the most recent P&D is showing a strong bullish RSI convergence. RSI is sitting in the slightly bearish zone, however, and this may reverse soon. The Stochastic RSI is approaching zero, setting up a new reversal. ETC is trading along the lower bound of the Bollinger Bands, and is showing a green candle for the day- marking an end to the week long slump. The only indicator which doesn't support a new bull run is the ADX/DI. While the DI- made a crossover, the ADX is riding low. I would consider this to be neutral (a small positive correction would not considerably alter this weak trend). While this is not displayed, ETC has been trading in a downwards channel with a false breakout, however it may breakout soon as it is sitting at this key support range. I expect this bull run to most likely happen within the next 4 days. Due to the strong pressure of the overall bear market, it is not likely to cross the key local resistance around the 18.5-19 range. For those who bought earlier following the Coinbase announcement, this may be a good exit for the short term if bear pressure overcomes the positive sentiment following the Coinbase listing. Good luck to you all!
BITFINEX:ETCUSD
by higgsboson
ETH/USD - Testing Important Zone - Downward Trendline from ATH!My first video on ETH and to me it looks like ETH is getting close to making a decision on the direction she's looking to go. Price action is just below and overall downward tend line from all time highs, so I believe we'll need to see a significant break and close above this area to see price action to start a trek above 1K again. I do believe we might see a little downside movement before she's really ready to pop. We will see! I hope you enjoyed the video... give me a like and your opinion!
COINBASE:ETHUSDLong
by Crypto_Sid
HIBB -Upward breakout trade from $24.75 to $35.93 HIBB is running sharp upward in the short term & in the long run it is going up from its lower support of the long term downward channel formation. We think it has very good upsdie potential from here. * Trade Criteria * Date First Found- January 11, 2018 Pattern/Why- Long term downward channel Entry Target Criteria- Current price ($24.75) Exit Target Criteria- $35.93 Stop Loss Criteria- $20.93 Please check back for Trade updates. (Note: Trade update is little delayed here.)
HLong
by AcornWealthCorp
REG - Upward channel breakdown short setup from current price REG was running within a long upward channel, followed by a Downward channel. Now seems braking down from a upward channel. The upward channel brake came with a huge surge in volume, Moneyflow also declined very sharp. We think it has good downward potential. * Trade Criteria * Date first found- March 2, 2017 Pattern/Why- Upward channel breakdown Entry Target Criteria- From current price Exit Target Criteria- 1st target $61.13, 2nd Target $58.13 Stop Loss Criteria- $72.13 Please check back for Trade updates. (Note: Trade update is little delayed here.)
RShort
by AcornWealthCorp
USDCAD Looking to go LONG at around 1.280Price is currently entering a Daily support zone, I am expecting buyers to come in at the 78.6% Fibonacci level where the lower trend line of the downward channel could also come into play. The Daily 200 smooth moving average lies just beneath the support level and the 78.6% Fibonacci level. The 200% Fibonacci extension level (Aqua Blue Line) could also be worth keeping an eye on. Furthermore looking at RSI and it would appear that price is currently oversold on the 1 hour time frame, whilst nearly reaching oversold levels on the 4 hour time frame.
Long
by ForexPinnacle