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Macddivergence

EURGBP may rise to previous high???Good Afternoon Traders, The EURGBP may rise following the current draw-back. It appears the pair may enter an area of consolidation while the market tries to figure out exactly what it wants to do. The commodity backed currencies are causing turmoil to the EUR, USD, CHF, JPY, and GBP with the recent bullish expectations from investors. From a technical viewpoint, Hidden Bullish Divergence is forming on the 16H MACD/Price Chart. Price was rejected at the 50-EMA for 3 consecutive candles on the 16H. A look at the 3H confirms the formation of Hidden Bullish Divergence on a short-timeframe so the 16H is likely to follow. Also on the 3H, RSI is hovering around Oversold territory and has some room to rise. Price may rise to the previous high around .9012 and consolidate further back down from there. Price looks to form higher-lows but the price may stagnate around the previous high (.9012). Thanks for reading. If you liked my analysis, please give me a follow. *The above is not investment advice but simply my analysis of the current market conditions*
Long
by pofseur
USDMXN to continue downwards??Hello Traders, The USDMXN appears to be continuing its downward movement following a short move upward. Hidden Bearish Divergence is forming on the 12H MACD/Price Chart. RSI has just moved out of OVERSOLD territory on the 12H as well. On the 3H, price is being rejected off the 50-EMA and Hidden Bearish Divergence is also forming on the MACD/Price Chart. Thanks for reading. If you liked my analysis, please give me a follow. *The above is not investment advice but simply my analysis of the current market conditions*
Short
by pofseur
Will the Loonie rally continue??Hello Traders, The USDCAD looks to continue its move lower with upcoming employment numbers out of the US and Canada. The USD has been weak with the world economy re-opening and it appears this trend is going to continue. From a technical viewpoint, Hidden Bearish Divergence is forming on the 4H MACD/Price Chart. On the 2H, the Hidden Bearish Divergence has already formed. From a Daily perspective, the price was rejected off the 240-LMA on the prior candle. I will be watching the Daily chart to see if the price is rejected at the 240-LMA again later this evening. Thanks for reading. If you liked my analysis, please give me a follow. *The above is not investment advice but simply my analysis of the current market conditions*
Short
by pofseur
Will the EURCHF start to weaken??Hello Traders, The EURCHF may be ready to pull-back. I anticipate a dovish tone at the upcoming ECB Monetary Policy Statement that may be the catalyst to cause a pull-back in the Euro. It is also possible this may cause some traders to take profits on their recent gains. From a technical viewpoint, the pair has hit a relatively strong resistance point on the 1W. The price just bounced off the 50-EMA on the 1W as well. On the 8H, Bearish Divergence is forming on the MACD Price Chart and RSI is in Overbought territory. On a short-term basis (1M), Hidden Bearish Divergence is forming on the MACD/Price Chart which may be a signal of an ongoing pull-back. Thanks for reading. If you liked my analysis, please give me a follow. *The above is not investment advice but simply my analysis of the current market conditions*
Short
by pofseur
1
EURUSD may begin to pull-back?Good Evening Traders, I am not big on looking for trend reversals or draw back trades, but the EURUSD may be setting up for a significant correction. I believe the ECB rate decision and following press conference will be the catalyst that begins the draw-back. It appears almost certain the ECB will provide additional relief and stimulus relating to COVID-19. The question is exactly when this occurs and is announced. I anticipate the press conference having a more dovish tone due to this. From a technical view, MACD is beginning to diverge from the Price Chart on the 8H. Price has blown by previous Bearish Divergence signals, but price appears to be at a stronger resistance and the current momentum may be slowing due to the upcoming rate decision. On the RSI, a double top is forming on the 8H in Oversold territory. Last time we saw a double top on the 8H in Oversold territory was at the beginning of March prior to the major sell-off that occurred. I do not believe the current sell-off would be nearly as significant, but we are seeing the same signals. On the 3H, Bearish Divergence was confirmed on the MACD/Price Chart so the 8H is likely to follow suit. Thanks for reading. If you liked my analysis, please give me a follow. *The above is not investment advice but simply my analysis of the current market conditions*
Short
by pofseur
1
Today's pick : EVX BTCPosition name : EVX BTC Coin /token info : Everex is a blockchain-based capital transfer system that aims to enable and ease the financial inclusion of unbanked, or underbanked people around the world. Everex proposes the Cryptocash, a cryptocurrency, where each unit has its value pegged to, and a name based on, the fiat currency it represents. Users convert local fiat currencies to Cryptocash using a currency exchange and transfer the coins to their Everex wallet. Cryptocash balances are provably underwritten by actual balances held in accounts of licensed financial institutions. The Everex system provides its users access to financial services using Cryptocash, without the volatility issues of existing, non-stable coin cryptocurrencies. Everex (EVX) has climbed out of oblivion and into the top 200 following the latest news that the company may now onboard U.S clients, according to their latest announcement. The announcement by the company saw a pump which reached 250% yesterday, with the project currently up 170% today. The latest news from Everex, which launched in January, is that the company has received approval to begin onboarding clients in the U.S state of New Jersey. Everex (EVX) is a decentralized app which enables Peer-2-Peer payments and trading of financial products using digital assets and smart contracts. The news saw EVX pump nearly 250% and triple its market cap from $6.7 million to over $18 million, boosting the project into the top 200. EVX saw its daily trading volume climb 8200% at its peak price yesterday, which was just under $1. The price has since seen a small correction down to $0.80, however trading volume has climbed to over $109 million, making it the 20th most traded coin on the market according to Coin Market cap. Reason for going long now : The only info we got to predict, let me pass the term, the future price is using divergence , and an other way to see if divergence worked is to watch past same type of divergence and what result occurred , for this particular pair we can see that the same type of macd divergence produced from as little (if we can say so) 13% to astounding 56%.
ELong
by Biticon