EURJPY Approached Recent Swing Lows, Likely to Breach the Low of the Year on the Level at 117.50

EURJPY Price Analysis – August 16
The pair depreciated again in value against the Japanese Yen. The currency pair during the mid-week breached both the upper and lower horizontal lines on the moving average 5 and 13 while completing another lap on the low in today’s session towards the low level at 117.50.

Key Levels
Resistance Levels: 123.01, 121.40, 119.91

Support Levels: 117.50, 117.00, 114.84

EURJPY Long term Trend: Bearish
The Daily time frame displays the EURJPY at the low, showing the pair is also testing a swing area on the level at the 117.50 to the level at 118.16 below the moving average 5 areas. The price attempted to dip below the area on August 12 to the low for the year on the level at 117.50, but could not keep the momentum going. The swing area was reestablished as support on August 13 and again today

However, buyers are trying to lean against the low level at 117.50, on the retest and hoping for a quick bounce. The trend is showing a bearish outlook in the medium and long term.


EURJPY Short term Trend: Ranging
On its Intraday, the bias in EURJPY remains neutral for the moment. With the level of 119.91 minor resistance intact, further decline is in favor. Although a break of the level at 117.50 will resume a large downtrend to the level at 114.84 support next.

However, on the break of 119.91 resistance will indicate short term bottoming. A stronger rebound should be seen to the horizontal resistance line now at 121.40.


Source: https://learn2.trade

AUDUSD Market Dragged Lower on Bears Dominance

AUDUSD Price Analysis – August 15
The bears were in full control moving the market lower in the prior session, although in the present session we see the pair found buyers around the level at 0.6748 for the 4th day in a row while the pairs bear dominance is evident falling to lowest close since the beginning of the year.

Key Levels

Resistance Levels: 0.7297, 0.7207, 0.7085

Support Levels: 0.6748, 0.6676, 0.6620

AUDUSD long term Trend: Bearish
In the bigger picture of the daily time frame, the decline from the level at 0.7207 (high) is seen as resuming the long term downtrend from 0.7297 (February high). Firm break of the level at 0.6876 (low) should confirm this bearish view.

On observation, further fall may be seen to the level at 0.6620 (low) next. On the upside, the break of the level at 0.7085 resistance is needed to be the first sign of medium-term bottoming. Otherwise, outlook will remain bearish even in case of a strong rebound.


AUDUSD short term Trend: Ranging
On the flip side of the 4-hour chart, the AUDUSD is staying in consolidation from the level at 0.6676 and it’s intraday bias remains neutral first. On the upside, the break of the level at 0.6827 will extend the rebound.

But upside should be limited below the level at 0.6909 support turned resistance to bring fall resumption. On the downside, the break of the level at 0.6676 may target 100% projections from the level at 0.7085 to 0.6827 from 0.7085 at 0.6620 level reflecting on the daily chart.

Staying Within Previous Boundary EURJPY Continues to Trade Within a Range



EURJPY Price Analysis – August 23
In today’s trading session, the common European currency traded sideways against the Japanese Yen. The currency pair was trading below the moving average 5 and 13 since yesterday’s trading session. We may see bearish traders pressurize the currency pair towards the level at 117.50 before the end of today’s trading session.


Key Levels

Resistance Levels: 123.01, 119.88, 118.33

Support Levels: 117.65, 117.50, 117.00



EURJPY Long term Trend: Bearish
In the daily picture, the EURJPY pair may most likely maintain the price range during the next trading session. Alternatively, a breakout may occur downwards.

While the exchange rate has been trading within the range of the level at 118.33 and 117.50 since mid-August. The trend is bearish, showing an intact downtrend in the medium and long-term.



EURJPY Short term Trend: Bearish
Today’s trading range has been going negative and more, and that’s below the last trading month’s daily average range. On the flip side, we may see a change in trend with renewed upward strength.

Buying could accelerate should prices move above the close-by swing high towards the level at 118.33 where further buy stops might get activated. Although with the level at 119.88 resistance intact, near term outlook remains bearish.



Source: https://learn2.trade

Near Term Outlook Unchanged as AUDUSD Trades Weaker

AUDUSD Price Analysis – August 22
The Aussie is holding weaker so far with the yuan softer on the day on a softer note for the equities and treasury yields. However, yuan has a relative effect on USD as the PBOC fixed the yuan weaker again today, reaffirming the notion that they will allow the currency to weaken but not too quickly.

Key Levels
Resistance Levels: 0.7205, 0.7085, 0.6827
Support Levels: 0.6748, 0.6676, 0.6620

AUDUSD Long term Trend: Bearish
But as seen in the daily picture above, the near-term picture in AUDUSD remains unchanged despite the pair slipping to session lows on the level at 0.6748 currently. Both buyers and sellers have more work to do to gain more momentum to push prices out of the downward range since last week.

While the forex pair is experiencing a stall, this could just be a correction, as both the medium and long-term trends are still bearish.

AUDUSD Short term Trend: Ranging
However, AUDUSD needs to break the monthly support zone on the level at 0.6676, which is currently providing support for the momentum on the pair at the level at 0.6748.

The currency exchange rate will most likely continue to trade downward and flat for today waiting for the required volatility to change the direction.



Source: https://learn2.trade

EURJPY Turns Lower Again After a Bullish Rebound, Now Pushing Through Key Support Level at 117.00


EURJPY Price Analysis – August 30
EURJPY pushes through the key area, past the horizontal line on the level at 117.00 during today’s trading session although on Thursday the common European currency appreciated against the Japanese Yen with almost 59 points to the upside.

Key Levels
Resistance Levels: 124.03, 121.66, 119.59
Support Levels: 116.59, 116.00, 114.84

EURJPY Long term Trend: Bearish
Showing on the daily time frame, sellers have managed to take out the key technical support horizontal line on the level at 117.00 during today’s trading session. EURJPY is staying in consolidation from the level at 116.59.
However, in the case of stronger recovery, the upside should be limited by the level at 119.59 resistance to bring fall resumption. The trend is bearish, and it’s showing an intact downtrend in the medium and longterm.

EURJPY Short term Trend: Bearish
On the 4-hour time frame, given that the currency pair has breached the key technical support horizontal line on the level at 117.00, most likely, bearish traders might dominate the EURJPY pair during the following trading session.

As it is, intraday bias remains bearish and on the downside break of the level at 116.59 will resume a larger downtrend to the level at 114.84 medium-term support. Though, a break of the level at 119.59 will indicate short term bottoming and bring stronger rebound.


Source: https://learn2.trade

AUDUSD in a Continuous Bearish Market Breaking past Key Technical Support Level at 0.6740

AUDUSD Price Analysis – August 29
The FX pair is moving lower gradually for the 3rd day in a row, during the past 24 hours, the Australian Dollar has depreciated against the US Dollar, and subsequently closing below its opening price while unable to hold early session gains.

Key Levels
Resistance Levels: 0.7085, 0.6909, 0.6823
Support Levels: 0.6676, 0.6620, 0.6600

AUDUSD Long term Trend: Bearish
In the bigger picture, today’s close may mark the lowest recorded closing price since the beginning of the year, with room for more downside. The potential target for bearish traders within the next 24 hours of trading will be on the level at the 0.6676 area.

Selling could accelerate should prices move below the close-by swing low on the level at 0.6676 where further sell stops might get activated. The trend is bearish, showing an intact downtrend in the medium and long-term.


AUDUSD Short term Trend: Ranging
On the flip side, the AUDUSD intraday bias remains neutral for the moment. On the upside, a break of the level at 0.6823 minor resistance will extend the rebound from the level at 0.6676 low.

However, the upside should be limited below the level at 0.6909 support turned resistance to bring fall resumption. Otherwise, the AUDUSD currency exchange rate will most likely continue to trade south today.


Source: https://learn2.trade

Facebook’s Libra To Apply For Licence In Switzerland

Swiss financial regulators have signaled that Facebook’s cryptocurrency, Libra is mandated to meet up to extra requirements besides acquiring a payment system license before they can begin operations in the region.

In a recent press release, the Swiss Market Supervisory Authority (FINMA) explained that the diverse services projected by Libra have created the need for adding the requirements being imposed. They stated that due to the issuance of payment tokens by Libra, the operations planned by Libra would clearly exceed those of a pure payment system and therefore should be subjected to such extra requirements.

The Extra Regulatory Requirements
According to FINMA, the extra requirements would be targeted specifically at liquidity, risk concentration and capital allocation.

The financial regulators of Switzerland have also noted that the management of Libra is another element necessitating the demand for Facebook to meet extra requirements concerning its cryptocurrency initiative.

In the launch of the Libra white paper in June, Facebook noted that the reserve would be controlled by a web of custodians who would be spread across different geographies. The so-called custodians will be mandated to possess an investment-grade credit rating.

Also, Facebook noted that the real assets used to back the Libra cryptocurrency would be a selection of low-risk assets such as bank deposits and government securities.




What Form Will these Extra Libra requirements take?

According to FINMA, the extra regulatory requirements that Libra would have to meet would be nothing different from what other participants in the financial markets have to adhere to.

For example, Libra would be expected to be exposed to certain bank-like rules such as a large simultaneous number of withdrawals of Libra coin by users would have to be palliated by the application of certain bank-like regulatory requirements. This means that Facebook would be required to obtain a banking license. This idea has been pushed for in the past by U.S. President, Donald Trump.

FINMA also mentioned that Libra’s international range will mandate a globally coordinated approach. This new development would drastically delay the launch of the cryptocurrency.

U.S. Pressures Switzerland over Libra Cryptocurrency
Switzerland is under intense pressure from the United States to ensure that its cryptocurrency regulations are not prone to misuse. Facebook chose the Central European nation as its hub because of the country’s progressiveness towards FinTech.

According to a report by the Wall Street Journal, officials from Switzerland and U.S. Held a meeting in Switzerland earlier this week, where they discussed matters surrounding the new cryptocurrencies regulations.

The U.S Undersecretary of the Treasury for Terrorism and Financial Intelligence, Sigal Mandelker, emphasized his concerns over the need to have regulations strong enough to fend off bad actors. He mandated that the Swiss handle these concerns with all importance.


Source: https://learn2.trade

China’s New Cryptocurrency

China plans to release a new digital currency which would bear some similarities to Facebook’s Libra coin. It would be usable across several platforms like WeChat and Alipay.

In a recent interview with the Shanghai Security News on the 6th of September, the deputy director of the People’s Bank of China, Mu Changchun, stated the purposes and the need for the new digital currency. He stated that the central bank needed to evolve from the use of traditional paper currency and delve into electronic payment methods which are making strong advances around the world. He said that the digital currency would be a realistic way to protect monetary sovereignty and legal currency status, stating that this digital currency initiative was a way of planning for a rainy day.

He also mentioned that digital currency would be as safe as the traditional central bank-issued paper notes and that it could even be used without requiring an internet connection. This offline feature is one of its major selling points as monetary transactions can still be carried out even in the face of communication breakdowns resulting from natural disasters like earthquakes, tsunamis and so on.

In 2014, the Chinese central bank set up a research party to explore the possibilities of a China-based digital currency to reduce the costs of producing and circulating paper money, which in turn would boost policymakers’ control over the supply of money.

Information about the development of this new digital currency was unknown to the public until last month when Mu announced that the innovation was almost ready.

US-based financial magazine Forbes has made claims that the currency would be ready by November 11.

Analysts are saying that the announcement made by social media giants, Facebook on the release of its digital coin, Libra, is the reason for the acceleration of the push towards digital currency by the PBoC.

Mu made mention of how the new digital currency would strike a balance between allowing anonymous payments and preventing money-laundering as compared to Libra. Although the Chinese digital currency may bear some resemblances with Libra, it would possess characteristics that even Libra didn’t have.

Facebook’s Libra
Facebook’s Libra has sparked a lot of worries among global regulators that it could become the predominant digital payment format and could become a medium for money laundering considering the social media’s wide reach.

Libra is said to be a digital currency that would be backed by several real-world assets, including bank deposits and government securities, and it will be held by a network of stewards. The structure of Libra is predicated on promoting trust and to stabilize its price.

Finally, Mu further discussed the superiority of the digital currency over altcoins was that others could go bankrupt and cause its users huge losses. Thus he said, can never be the case of PBoC’s new currency.

Source: https://learn2.trade

Hollywood Star Ventures Into Security Tokens


As groundbreaking innovations continue to penetrate the finance space, it is almost impossible for this innovation not to spread to other industries. The movie industry is one of such sectors currently experiencing such revolutions. This is due to the invention of distributed technologies like Blockchain, which has brought about the concept of tokenizing everything.

Tokenization is the practice of amplifying the liquidity of real-world assets. The idea behind tokenization is the same as stocks or shares, which denotes fractional ownership of stakes in a company. Anything and everything can be tokenized, and many believe it’s only a matter of time before everything is.


Daywalker Movie Fund

Award-winning actor, director, producer and martial artist Wesley Snipes, is on a bid to capitalize on this advancement with tokenization. The Hollywood actor in collaboration with Liechtenstein Cryptoassets Exchange (LCX), is planning to tokenize $25 million for a movie fund. The project is known as “Daywalker Movie Fund” (DMF) which intends to invest in Wesley Snipes and his production house, Maandi House Studios will create a medium for investors all over the globe to acquire a share in the fund’s production.


LCX plans on launching a fully compliant security token offering (STO) with the DMF, which will be represented by the DMF security token, to create a level playing field for both retail investors and Hollywood financiers.



Regulatory Perks

STOs, like initial coin offerings (ICO), provide value via a digital token. Although, security tokens, unlike ICOs, are developed with a firm foundation of regulatory due diligence. Also, security tokens represent real assets, much like shares in a company or equity in real estate while ICOs offer a token that can be utilized only through specific infrastructure.

One major characteristic that gives security tokens its legitimization is it’s time ties to regulatory governance. However, the operational construct of tokenization differs across jurisdictions. In Liechtenstein, where LCX is situated, the regulatory body passed a law dubbed the Blockchain Act. The act virtually provides an explicit legal basis for ownership as well as a safe storage of the security tokens. It also provides strict rules concerning Anti-Money Laundering and Know Your Customer (KYC) requirements.


An Increasing Demand For Tokenization

Wesley Snipes will not be the first to undertake this journey into movie tokenization. The pioneering body of the concept is tZERO, a Blockchain subsidiary of a U.S. retail company Overstock.com.

There is a rising demand for tokenized funding, considering that there is a dire need in the film industry for new avenues for liquidity. Normally, funding in the film industry comes from different revenue streams like hedge funds and individual investors from wealthy individuals. The downside to this in contrast to security tokens is that creates a situation whereby ownership of the finished product is shared with the investor.


Source: https://learn2.trade

Lawmakers Pen Down Concerns to the Fed Over National Digital Currency

Two United States lawmakers have urged the Federal Reserve to evaluate the possibilities of creating a digital dollar currency.

House of Representatives members, French Hill and Bill Foster recently sent a letter to the Federal Reserve Chairman Jerome Powell, expressing the concerns they have on the implications the US dollar would face in a likely scenario where another country or private company develops a widely used digital currency. They asked if the apex bank was exploring ways to develop their version.

The details of the letter were first published by Bloomberg Law which recounts how the Fed possesses the right to create and oversee currency policies.

The congressmen wrote that the central bank of the United States had it on its jurisdiction to create a national digital currency. They added that they were worried that the importance of the US dollar could be put in a long-term danger by the adoption of digital fiat currencies across the globe. They wrote that the Bank for International Settlements carried out a survey and discovered that 40 countries across the globe have developed or are planning on developing a digital currency.

There have been demands for the global financial system to gravitate away from the dollar. Most peculiar of these calls was when the Bank of England governor, Mark Carney proposed that a digital currency supported by a basket of other financial instruments will assist nations in making this change.

According to the letter, Foster and Hill wrote that cryptocurrencies are presently used for speculative functions in the United States, but have the potential to function as the traditional currency of the future. Also, they wrote that the country shouldn’t depend on private corporations to create digital currencies.

The letter categorically made mention of Facebook’s cryptocurrency project, Libra. They wrote that if this project by Facebook gets implemented, it could eliminate vital aspects of financial administration outside of the United States jurisdiction.

The letter went on to cite recent efforts by private corporations like J.P. Morgan and Wells Fargo.




Further Suggestions

The letter articulates some concerns like what measures is the Fed taking to develop a digital currency, what backup plans the organization were taking if a digital fiat currency gains momentum, what legal or regulatory issues could impede the Fed from assembling a digital currency, what market threats could confront the Fed’s digital currency when it is released and finally, what were the advantages to taking on this project.

However, US Reps. Foster and Hill are not the only ones suggesting that the Fed looks into developing a digital currency. In 2018, former Federal Deposit Insurance Corporation Chair, Sheila Bair, likewise suggested that the Fed create its digital currency to prevent disruption from the private sector and other nations.

Nonetheless, the Fed is planning on creating a real-time payment system, although it is uncertain if the system is cryptocurrency-based.


Source: https://learn2.trade

AUDUSD Discovers Its Potential for the Upside Movement as Buyers Lean on the Key Support Level

After discovering its potential for the upside movement, AUDUSD has appreciated against the greenback since the prior trading session. The FX pair had exited the prior session above its opening price after recovering from early selling pressure.

Key Levels
Resistance Levels: 0.6895, 0.6805, 0.6776
Support Levels: 0.6671, 0.6620, 0.6600

AUDUSD Long term Trend: Bearish
Despite trading down to the level at 0.6671 earlier during the previous session, the FX pair had bounced off the horizontal support zone. Meanwhile, its failure to close below the support level might increase the zones’ significance as support going forward.

However, if the currency pair breaks the support level, bears could drive the price towards the lower boundary of the horizontal support zone on the level at 0.6620 during the following trading session.

AUDUSD Short term Trend: Bearish
On the flip side of the 4-hour chart, showing the level at 0.6740 minor resistance intact, it’s intraday bias stays on the downside. And the decisive break of the level at 0.6671 low will resume the larger downtrend.

While on the upside, the level at 0.6776 minor resistance is likely to turn bias back to the upside for stronger recovery first, and outlook stays bearish, showing an intact downtrend in the medium and long-term.

Source: https://learn2.trade

USDCHF Breaks Below Its near Term Support Zone on the Level at 0.9926 but Recovers Abruptly

USDCHF Price Analysis – October 8
The FX pair breaks below the horizontal zone on the level at 0.9926 but reverses again after recovering from its early selling pressure. The USDCHF was able to find buyers again around the level at 0.9908.

Key Levels

Resistance Levels: 1.0231, 1.0126, 1.0015

Support Levels: 0.9897, 0.9870, 0.9843

USDCHF Long term Trend: Ranging
The price of the pair has moved back towards the moving average of 5 and 13 areas on the level at 0.9950. This area requires to be broken to give buyers more upside potential to move higher.

However, the decisive break of the level at 1.0231 is required to indicate bullish resumption. Meanwhile, the medium and longer-term may remain neutral first.

USDCHF Short term Trend: Bearish
After trending downwards to about 50 pips lower after the open, the forex pair managed to reverse during the session as bulls took control and may exit the day above its opening price.

The USDCHF’s pull back from the level at 1.0015 extends lower today but stays well above the lower horizontal zone on the level at 0.9843 support. While still in a long-term uptrend, the short trends have turned bearish already.

Source: https://learn2.trade

GBPJPY Reverses Its Sell-Off Around the Level at 130.75
OCTOBER 9, 2019 Azeez Mustapha No Comments

GBPJPY Price Analysis – October 9
In the prior session, the pair closed lower for the second day in a row, but currently, the GBPJPY displays a weakness further downside of the pair while retaining its wider medium-term outlook by temporal reversal on the level at 130.75.

Key Levels
Resistance Levels: 148.66, 137.80, 135.774
Support Levels: 130.75, 128.68, 126.54

GBPJPY Long term Trend: Bearish
In the bigger picture, the GBPJPY consolidation structure is still forming from the technical support zone on the level at 126.54 low.

A further upward move may be recorded towards the level at 146.57 and 148.66 in an extension where its resistance is glaring before completing the structure. However, the overall trend remains bearish while displaying an intact downtrend in the medium and long-term.

GBPJPY Short term Trend: Bearish
On the 4-hour time frame, its price is trading narrowly between the moving average 5 and 13 close to the key technical support level at 130.44.

As it is presently, the intraday bias in GBPJPY remains on the downside at this point where a corrective rebound from the level at 126.54 low should have completed. Meanwhile, its 4-hour RSI is bearish and pointing lower suggesting further weakness.

Source: https://learn2.trade

Trade Dispute Responsible for China’s Overwhelming Gold Purchase Rate

China has included more than 100 tons of gold to its stores since it continued purchasing in December, fortifying its position as one of the significant authority collectors as national banks load up on the valuable metal.

The People’s Bank of China grabbed progressively gold a month ago, raising reserves to 62.64 million ounces in September from 62.45 million in August, as per information on its site. In tonnage terms, the most recent inflow sums 5.9 tons and comes in as an expansion of about 99.8 tons over the earlier nine months.

Bullion hit the most noteworthy in over six years in September as more slow development, the trade dispute and rate reductions prodded financial specialist request. National banks have been significant purchasers as well, particularly in developing markets. Administrative demands will probably proceed as protectionist strategies and geopolitical concerns add to the request, as forecasted by Suki Cooper, the valuable metals investigator at Standard Chartered Bank.

“With the stressed partnerships with the U.S., China requires support against its enormous possessions of the dollar, and gold serves that capacity,” said Howie Lee, a financial specialist at Singapore-based Oversea-Chinese Banking Corp. “As China turns into a superpower in its very own right, I anticipate progressively gold-purchases.”

China’s High Gold Appetite
The PBOC’s continuos running of bullion-purchasing has come against the difficult setting of the trade dispute with the U.S. furthermore, a stamped lull in development at home. While high-level discussions are set to continue in Washington this week, Chinese authorities are flagging they’re progressively hesitant to consent to an expansive bargain.

Spot gold spiked to as much as 0.4% to $1,511.31 an ounce on Monday and exchanged at $1,505.84 in early London exchange. While the value declined 3.2% in September, they remain high at 17% this year. The PBOC information was discharged at the end of the week.
Alongside China, Russia has additionally been including generous amounts of bullion. In the initial half-year, national banks overall got 374.1 tons, supporting the overall gold request to a three-year high, the World Gold Council declared.

While a tenth straight month of amassing, shows an unfaltering purchasing trend for the PBOC, China has in the past gone for significant stretches without uncovering moves for its gold possessions. At the point the national bank declared a 57% bounce in savings to 53.3 million ounces in mid-2015, that was the first update in quite a while.

Source: https://learn2.trade

The Economic Proscription of U.S. Farmers by China Maybe Forever

Similar to a black eye on the face, it’s placing an indelible imprint. The retaliatory levies by China over U.S. commodity producers, such as soybeans, which seem to be forever. The moment such happens for the market it becomes irreversible.

It’s a dread numerous farmers from North Dakota to Mississippi have recognized for as far back as last year. They worry that they’ve put millions in soybean development on account of China. Since Chinese focus is now transferred towards Brazil rather, that market might be gone forever.

Once the confidence merchants have in the U.S. declines as a steady provider because of the trade dispute, the more vital its important for them to support and further broaden other avenues.

The developing danger for American agribusiness presently is that a great part of the piece of the overall industry lost throughout the year will be hard or difficult to win back at any point shortly, the Boston Consulting Group said in a detailed analysis discharged on Wednesday.

This is for the most part because of long term contracts that are regularly recorded among purchasers and sellers, contingent upon the item. The lesson from the analysis shows that U.S. farmers need to turn out to be less reliant on China, and simply trust in the best concerning those customers organizing a rebound sooner or later.

For the time being, China is going to Australia, Brazil, New Zealand, Russia, and also for its domestic producers as an option in contrast to American developed crops and animal proteins.

From the detailed analysis:
“The risk that U.S. agribusinesses may for all time lose foreign market share of the overall industry isn’t only hypothetical. In past trade disputes, for example, one with China including beef, the US has not recaptured its lost share. As a result of the increase of U.S. crops and food materials more costly than other choices, high duties bring down the price to merchants who plan to expand. Also, the fewer confidence merchants have in the US as a steady provider, in perspective on the potential for future trade disputes, the more important it progresses toward becoming for them to support and further expand. After some time, merchants could loosen up complex associations with suppliers from the U.S.”



China Receives Blames for the Pressure
And this is so because China is important to American farmers. China purchased $19.5 billion in U.S. agricultural items as of 2017, representing 14% of exports of farm produce, in light of BCS analysis. In July 2018, China slammed a 25% levy on U.S. agricultural items.

Exports at that point declined by an incredible 53% for the year. While exports to China have declined also for this year, over past years free fall.

There is another motivation behind why some China customers may not come back to the U.S. China is extending its very own crop acreage, particularly for soybeans. After some time, China will turn out to be progressively independent. Except if request increases generously, China will purchase its very own soybeans, regulating export development and under control in any case.

“Individuals in the business were in a condition of cheerfulness, believing that a bargain would soon be reached,” says Michael McAdoo, associate, and related executive for BCS in Montreal. “Our analysis demonstrates that regardless of whether there is a bargain, there is worry that a similar volume won’t return. They need to try different markets,” he declared.

Source: https://learn2.trade

Despite Running To The Highest Close In Six Months, GBPUSD May Fail To Reverse

GBPUSD Price Analysis – October 20
The GBPUSD had closed on Friday above its opening price after recovering from early selling pressure and trending higher for the 4th day consecutively in a row. After failing to reverse from its highs, the FX pair is unstable and due to weekend UK parliament vote on Brexit, with this scenario, the pair is likely to gap while it reopens on Monday morning in Asia (Sunday evening in the US).

Key Levels
Resistance Levels: 1.3301, 1.3185, 1.2988

Support Levels: 1.2582, 1.2204, 1.1958

GBPUSD Long term Trend: Bullish
On the daily picture, the bulls took charge in the previous session and exited the day above its opening price, however, the pair failed to move past the prior’s day’s trading range and the price likewise failed to reverse below the previous day’s range.

The GBPUSD had rallied upwards to as high as the level at 1.2988 last week, before forming a temporary top there. In the case of a reverse, the fall may be contained by the level at 1.2582 resistance turned support to bring rise resumption.


GBPUSD Short term Trend: Bullish
An impermanent top is structured on the level at 1.2988 and intraday bias in GBPUSD stays on the upside. A few consolidations may be seen. Be that as it may, any pullback ought to be contained above the level at 1.2582 support to bring rise resumption.

Meanwhile, on the upside, a break of the level at 1.2988 will stretch out the recovery from the level at 1.1958 to 1.2582 from 1.2204 at 1.3185 next. Without bias analysis, the outlook is bullish and displaying an intact uptrend in the short and long-term.

Source: https://learn2.trade

Brexit Aftermath: The Market Reaction Of Bitcoin, Gold And Pound Sterling To Headline News In The EURO Zone

After the UK made it public to exit from the EURO bloc, the market cap for Bitcoin and Gold has increased almost by $133 billion and $1 trillion. Is this the Brexit aftermath?

As it is, the end may be near for Brexit. In the recent declaration an accord is reached between the British government and the EU, everyone is on the lookout for the final date Brexit will conclude. And based on this scenario, an analysis is drawn on the aftermath of this separation in the politics of the EURO bloc and the effect on the price of Bitcoin, Gold and pound sterling.

Bitcoin: Since the start of Brexit, Bitcoin’s market cap had spiked higher and recovered about $10 billion worth. Before Brexit, the cryptocurrency of the first choice had been stable in price after crashing to a market cap of about $2.9 billion low around January 2015. However, after the crash, the cryptocurrency had spiked to about 300% within 18 months while the next super halving of the project is expected on the network from 25 to 12.5 fresh Bitcoin’s per 10 minutes.

As of mid-2016, the most liquid GBP market was the London based Coinfloor exchange. The exchange did around 772 Bitcoins’ worth of volume that day, valued back then at around $4.9 million, with data from the technical back end at the Trading view.

The Pound Sterling: The British national currency had crashed by almost 20% on the night of the vote after hitting a momentary high of about $1.5 versus the USD for about 8 months. Since crashing to a low of about $1.2 as at March 2017, the Pound sterling had rallied 6% within a 4-week time frame, after the UK parliament decided to vote and activate the Article 50 while then the Brexit journey began for the UK taking it two years to discuss its planned exit from the EURO bloc.


Gold: The safe-haven asset also spiked higher around the same time frame from mid-March to mid-April 2017 with its price rising about 7% versus the USD. Nevertheless, this scenario didn’t play out on Bitcoin as in March 2017, beginning with its price at $1000, Bitcoin had surged to hit an all-time value of about $1300, as a result of markets expectation for a Bitcoin ETF being endorsed. However, after its nullification was declared on 10th March 2017, the cryptocurrency fell to a low of about $888 which occurred concurrently with the UK’s law passage for its exit from EURO bloc. Ever since then as the UK’s Brexit discussions with the EU raged on, so did the Pound against the US-dollar and Bitcoin gained more to its price.

Bitcoin, Gold, and Pound Sterling Reactions to Brexit
During this timeframe transversing Brexit discussion and its process, the Pound lost the majority of its 15% gains recovered, to tumble from a high of $1.43 to hit $1.20 on 3 September. In a similar multi-day timeframe, gold broke out of its basic $1400 resistance level to rally 15% versus the US-dollar. While Bitcoin gained higher, then again, stayed on the level around $8,000—yet the genuine story of those 17 months incorporates the cryptocurrency crashing towards $3,000 (December 2018) preceding the move spiking to a high of almost $14,000 in June this year.

Source: https://learn2.trade

Fall Reversal On The EURJPY After Tumbling Below The Key Technical Support Level At 120.35

EURJPY Price Analysis – November 1
EURJPY currency pair tumbled and breached a significant horizontal zone on the level at 120.35 during yesterday’s trading session. As for the near future, buyers on EURJPY may take the exchange rate back to the upside to retest the price level at 121.10/121.47 within this session or the following trading session.

Key Levels

Resistance Levels: 127.52, 125.23, 123.37

Support Levels: 119.11, 117.08, 115.86

EURJPY Long term Trend: Ranging
In the EURJPY longer-term picture, the present scenario reinforces the idea that a medium-term bottom is formed around the lower horizontal zone at the support on the level at 117.08, on a bullish structure trendline in daily outlook, above the level at 115.86 critical support.

However, a decisive break of the level at 120.78 support turned resistance may reinforce this case and bring further advance to the falling outlook resistance presently on the level at 125.23. The FX pair displays weakness for the time being (as per its long term downtrend) with just the medium-term pattern as yet being bullish.

EURJPY Short term Trend: Ranging
The flipside of the EURJPY is remaining in consolidation from the level at 121.47 and it’s intraday bias at the current moment stays neutral. Meanwhile, in the likely event of a deeper plunge, its downside may be restricted above the level at 119.11 support to bring another rally to the upside zone.

As for the near future, buyers on EURJPY may take exchange rate back to retest the price level at 121.10/121.47 on the upside, a break of the level at 121.47 may re-energize the advance from 117.08 to the level at 123.37 next.

Instrument: EURJPY
Order: Buy
Entry price: 120.78
Stop: 119.11
Target: 123.37


Source: https://learn2.trade

Malta’s Financial Authority Raises Alarm Of New Scam

According to a report filed on the 31st of October, the Malta Financial Services Authority (MFSA) has alerted the public of a Bitcoin scam. This new scam bears the same qualities as another scam that has been spotted in the past.

The MFSA has cautioned the public to avoid the body called ‘Bitcoin Future’ which seems to be displaying similar deceptive properties as another known as ‘Bitcoin Revolution’. The MFSA has already released 2 public warnings this year on Bitcoin Revolution. The report points out that these scam projects seem to always reappear on the internet as ads, after changing their labels to shield them from getting spotted.

The regulatory authority stated that the ads sold fake promises like “a way to build your life better” and “a unique opportunity for Maltese”, and directed the public to a precise webpage where the fake ads were being sold.

As a disclaimer, the MFSA has said that Bitcoin Future is not recognized as a legal corporation in Malta, does not have permission to deliver financial services in any way to the country, and does not conform to the transitory provision concerning Article 62 of the Virtual Financial Act of Malta.

To sum it up, the regulatory body has said that Bitcoin Future seems to be a global “get-rich-quick” scam and has advised its citizens to desist from engaging with it and that those who do would be doing so at their own risk.

The report also consisted of a link to an authorized list of financial entities that have been certified by MFSA, and procedures to identify if a service provider is a scam or not.

New Strategy and Alliance by the MFSA
In September, the MFSA broadcasted a scheme for vigorously monitoring and managing risks on cryptocurrency corporations.

The strategy, which will span from 2019 through 2021, disclosed that the regulatory body plans on upgrading their approach and will be working directly with the Financial Intelligence Analysis Unit, also with other global authorities.

Sometime this year, the MFSA contacted CipherTrace, a blockchain security corporation, to oversee cryptocurrency-related activities in the country and to battle fraudulent activities and terrorism financing.


Source: https://learn2.trade

Latest Releases May Push Recovery Past The Level At 1.30 Handle: What Next For GBPUSD?

GBPUSD Price Analysis – November 3
Due to recent news release, the GBPUSD pair may recover further past the horizontal line on the level at 1.30 handle. The pair exited the prior week higher at the level 1.2940. Trending about 28 pips higher after the open, the Cable was unable to hold its gains as the sellers took control ending the day below its opening price. As the new session begins, the 1.3000 level is critical and may limit a further advance.

Key Levels
Resistance Levels: 1.3301, 1.3185, 1.3012

Support Levels: 1.2582, 1.2195, 1.1958

GBPUSD Long term Trend: Bullish
In the longer picture, the present scenario affirms the case of medium-term bottoming on the level at 1.1958. However, at this stage, the rise from the level at 1.1958 is seen as consolidating from the previous fall.

And a further advance may be seen back towards 1.3301 resistance. As of now, this scenario may stay as the likely trend in as much as the level at 1.2582 resistance turned support is intact. Although the GBPUSD displays a short-term downtrend, its likely a correction, as both the medium and long-term trends are still bullish.

GBPUSD Short term Trend: Ranging
On the 4-hour time frame, the bias stays neutral before the next open as the GBPUSD is staying in consolidation from the level at 1.3012 from the last session while the outlook is unchanged.

Meanwhile, in the event of another retracement, the downside may be contained above the level at 1.2582 resistance turned support to effect another advance northwards. On the upside, the break of the level at 1.3012 may further its advance from the level at 1.2195.

Source: https://learn2.trade

Tips On How Best To Handle Bitcoin Market Crashes

In a scenario where the price of Bitcoin is crashing, what would be the best reactions to take?

Below are a few things an investor can do to weather the storms of a market crash.

Maintain a Calm State of Mind
Trading Bitcoin mandates that one has a disciplined mind state, meaning that your emotions must be in check at all times. Allowing your emotions to cloud your judgment in unfavorable market conditions is never the best option and in most cases, ends in disappointment and regrets. What you should do instead is take a break, evaluate what is happening and make logical decisions.

Most times, it is best to do nothing rather than taking an action that might end up going against you.

Try Not to Obsess
Sitting in front of your screens all day is not going to change anything happening in the markets. Spending time making analysis and plotting charts is fine, but don’t waste hours obsessing over the predicament you might be facing. It is advisable to engage yourself with something more constructive.


However, if you still have to trade, select a limit order and move on to something else.

Do Not Lose Focus of the Main Aim
The fact that Bitcoin may be facing a crash at a time does not mean that the overall demand for Bitcoin is gone, it is usually just a temporary downturn. The crypto market possesses the most assorted investor base of any other sector, it is safe to say that the market will almost certainly bounce back.

Always adhere to your trading strategy. Do not let the current situation drive you to make drastic trading decisions only for the market to turn around days later, causing you further losses or opportunities.

The crypto market is an extremely erratic playing field and huge plunges and rallies are always expected.

Source: https://learn2.trade

EOS Begins A Gradual Rally; Can It Reach The Resistance Level At $6?

Key Resistance Levels: $5, $6, $7
Key Support Levels: $3, $2,$1

EOS Price Long-term Trend: Bullish
EOS is in a bullish move but it is encountering penetration at the $3.70 price level. The market pulls back and continues to trade below $3.70. EOS has made concerted efforts at the resistance so as to move up the price ladder.

Previously, the bulls have successfully prevailed over the downtrend line as the coin moves up. Similarly, if the current resistance level is surmounted, the coin will move up again to either $4.60 or $5 price level. Nonetheless, if EOS fails to move up, the coin will fall and find support at $3.20.

EOSUSD - Daily Chart
Daily Chart Indicators Reading:
The RSI period 14 levels 58 signify that EOS is falling and approaching the sideways trend zone. EOS is at the point of a bullish crossover which means that EOS may rise. The downtrend line has already been broken as the market went up. It is unlikely for the selling pressure to resume and price fall below the downtrend line. If it does price may retrace to a low of $ 3.20.

EOS/USD Medium-term bias: Bullish
On the 4-hour chart, the EOS fell to a low of $2.60 in September and October to resume a bullish move. In September, the market went up but was resisted and it dropped to another low at $2.60.

At this low, a trend line is drawn to establish the level of price movement. The uptrend is said to be continuing if the price makes higher highs and higher lows. Nevertheless, if the market falls and breaks below the trend line, the uptrend is said to be ended.

EOSUSD- 4-Hour Chart
4-hour Chart Indicators Reading
EOS is below 40% of the stochastic indicator signifying that price is in a bearish momentum. The EMAs are trending upward suggesting that EOS is rising.

General Outlook for EOS
EOS is in a bullish market. At a low of $2.60 in September the bull market was short-lived as it was terminated at $3.20 price level. The bulls embarked on another bullish move in October but faced another resistance at $3.70 after breaking the initial resistance at $3.20.

As already indicated in the price analysis, EOS may move up, if it takes care of $3.70 price level. However, on the 4-hour chart, if EOS pulls back and breaks below the trend line, the market will drop again.

EOS Trade Signal
Instrument: EOSUSD
Order: Buy
Entry price: $3.40
Stop: $2.50
Target: $6.0

Source: https://learn2.trade

0X (ZRX) Continues To Disappoint Investors

Key Resistance levels: $0.30, $0.35, $0.40
Key Support Levels: $0.20, $0.15,$0.10

ZRX/USD Price Long-term Trend: Bearish
The ZRX/USD pair is in a downward move after the market retests the $0.30 price level. In October, the coin was in a bullish move and tested the $0.35 resistance level. The bulls tested the $0.35 price level again and formed a bearish double top. With the formation of the bearish double top, the coin fell to the support line of the channel.

The bulls may a retest at the $0.30 price level and resumed the downward move. The market has fallen to a low of $0.27 and it is consolidating above that level. This was the previous low in May. However, if the price breaks below $0.27, the pair will drop to a low at $0.20. Nevertheless, if the $0.27 support holds, the price will move up.

ZRXUSD-Daily Chart
Daily Chart Indicators Reading:
The price has fallen to the support of the 50-day SMA and if the 50-day SMA holds, the 0x will move up to retest the resistance level. The RSI period 14 level44 indicates that the price is in the range-bound zone.

ZRX/USD Medium-term bias: Ranging
The bulls move up to test the resistance at $0.35 on two occasions and commenced a sideways move. The coin is fluctuating between the levels of $0.27 and $0.35. Nevertheless, the bears tested the support line and rebounded. The pair is likely to continue with the sideways move.

ZRXUSD-4 Hour Chart
4-hour Chart Indicators Reading
The 21-day SMA and 50-day SMA are trending horizontally indicating that price is in a sideways move. The stochastic indicator is above the 40% range indicating that price is in bullish momentum.

General Outlook for 0x
The ZRX/USD pair is in a downward move but the price is ranging above the $0.27 support level. After the sideways move above $0.27 and if the bears break below the support level, the selling pressure will resume.

0x Trade Signal
Instrument: ZRXUSD
Order: Buy Limit
Entry price: $0.25
Stop: $0.20
Target: $0.35

Source: https://learn2.trade

EURUSD Is Dominated By The Bull Market Throughout As The Pair Seek To Recover

EURUSD Price Analysis – November 18
The bulls had full control today, moving the market up during the entire European session as the FX pair confirmed its breakout past the high of the prior session after trading up to 1.1068 above during the day.

Key Levels
Resistance Levels: 1.1501, 1.1412, 1.1278
Support Levels: 1.0989, 1.0879, 1.0780


EURUSD Long term Trend: Bearish
EURUSD at the moment, the rebound from the 1.0879 level is initially seen as a remedy and, in the case of a further increase, the increase may be contained by the level at 1.1412 retracements from the level at 1.0879.

Although the downward trend from the 1.1501 (high) level may resume later. However, the sustained plunge from the 1.1412 level may change this bearish position and lead to a greater increase in the retracement to the level at 1.1501.


EURUSD Short term Trend: Ranging
The EURUSD intraday bias stays neutral for the initial position and a further plunge is anticipated as long as the resistance remains at the level at 1.1073. Also, the corrective rebound from the level at 1.0879 is expected to end at 1.1501.

Meanwhile, past the low of the level at 1.0989, the bias will be revised downward to repeat the low of the level at 1.0879. However, the breakout of the level at 1.1073 may soften this bearish trend and push up the bias for the level at 1.1175.

Instrument: EURUSD
Order: Buy
Entry price: 1.1073
Stop: 1.0989
Target: 1.1412

Source: https://learn2.trade

Bitcoin SV Makes Upward Corrections But Struggles To Push Price Above $110

Key Resistance levels: $220, $240, $260
Key Support Levels: $160, $140,$120

BSV/USD Long-term Trend: Bullish
Bitcoin SV is making a surprising upward move after surviving a downtrend from the overhead resistance at $150. The coin fell to a low of $92 and commenced a bullish move. The price upward move can be sustained if the bulls overcome the initial resistance at $115 and $ 120.

Presently, the coin is trading at $108, attempting to break above the previous low in July. In July, the previous low was supported as the market moved up to the $180 price level. Today, the previous low is a resistance level, the price has to break above that low and close. However, BSV will fall to the low of $80, if the bulls fail to break the initial resistance levels.

BSVUSD-Daily Chart
Daily Chart Indicators Reading:
Bitcoin SV is in a bullish momentum above 20% range of the daily stochastic. The market is expected to rise and revisit the previous high of $140. The rise of BSV is depended upon the bulls breaking above the 21-day and 50-day SMAs. The price will be in the bullish trend zone if the price is above the SMAs.

BSV/USD Medium-term bias: Bullish
On the 4-hour chart, the price tested the support above $92 before embarking on the bullish movement. The formation is in the form of a bullish double bottom indicating that the coin is likely to rise. The coin is expected to rise above the $120 and retest the overhead resistance at $140.

BSV-4-Hour Chart
4-hour Chart Indicators Reading
There are prospects of the coin rising because the price is above the 21-day and 50-day SMAs. The RSI period 14 level 53 indicates that price is above the centerline 50 which means Bitcoin SV is in a bullish trend.

General Outlook for Bitcoin SV (BSV)
Bitcoin SV is in a bullish momentum. All the indicators are showing signs that BSV is in a bullish trend except the moving averages. On the daily chart, the price bars are still below the 21-day SMA and the 50-day SMA meaning that the coin is the bearish trend zone. The 50-day SMA is acting as a resistance to BSV. However, the coin will be in an uptrend once the price is above SMAs.

BSV Trade Signal
Instrument: BSVUSD
Order: buy
Entry price: $105
Stop: $92
Target: $140

Source: https://learn2.trade

USDCHF: Upside Momentum Attempt At Parity Losses Steam, Running Into Sellers

USDCHF Price Analysis – November 26
The USDCHF reached a new daily high of the level at 0.9987 at the start of the European session but failed to maintain momentum as investors refrained from taking important positions pending further developments on the trade dispute between the United States and China. At the time of writing, the pair was up 0.07% on the day on the level at 0.9970.

Key Levels

Resistance Levels: 1.0231, 1.0126, 1.0027
Support Levels: 0.9869, 0.9798, 0.9659


USDCHF Long term Trend: Bullish
Overall, only the medium-term trend stays neutral, with USDCHF remaining in the range of the level at 0.9659 / 1.0231. In all cases, a decisive break of the level at 1.0231 is needed to indicate a recovery of the uptrend.

Otherwise, a more parallel trend may lead to another plunge. Meanwhile, the support break of the level at 0.9890 may instead target support on the level at 0.9841. The outlook is bullish, displaying yet an intact uptrend in the short and long-term trend.


USDCHF Short term Trend: Bullish
The USDCHF is losing ground from the upside, as shown by the 4-hour RSI. But with minor support intact on the level at 0.9949, the intraday bias stays slightly higher. Consolidation starting on the level at 1.0027 should end at the level at 0.9869.

A new advance may be seen to test the level at 1.0027 again first. While a break there may resume its total advance from the level at 0.9659 to retracement from the level at 1.0237 to 0.9659 to 1.0126. On the flip side, a break of the level at 0.9949 minor support may tip the balance forward to extend the consolidation with another foot down.

Instrument: USDCHF
Order: Buy
Entry price: 0.9964
Stop: 0.9890
Target: 1.0231

Source: https://learn2.trade

be practical to your teaching not theory and story

GBPUSD Price: Following Recouping From The Low, British Pound Anticipates Upward Momentum

GBPUSD Price Analysis – December 1
The pound had a positive prior week as traders anticipate to build the scenario for buyers to step in, and now it seems likely to continue on the upside. If we can exceed the crucial level on the level at 1.3012, it is likely that the pound sterling takes off towards the level of 1.3185, and then possibly even the level of 1.3301 depending on the extent buyers push the FX pair.

Key Levels
Resistance Levels: 1.3301, 1.3185, 1.3012
Support Levels: 1.2768, 1.2582, 1.1958


GBPUSD Long term Trend: Bullish
In the longer term, the increase from the level at 1.1958 is viewed as consolidation from beneath. A new advance towards resistance on the level at 1.3301 may be seen. At the moment, this may continue to be the preferred scenario as long as the level at 1.2582 resistance turned support stays intact.

However, the firm break of the level at 1.2582 may shift the target towards the level at 1.1958 low and further beneath. The outlook stays bullish, displaying an intact uptrend in the short and long-term.


GBPUSD Short term Trend: Bullish
GBPUSD remained in consolidation since hitting the level at 1.3012 in the prior week while the trend is unaltered. The initial bias may stay neutral initially for this week. The retracement may be limited by the level at 1.2768 support.

Although on the positive side, the break of the level at 1.3012 may reactivate the entire rally from the level at 1.1958. However, the break of the level at 1.2768 may advance a further plunge to the level at 1.2582 resistance turned support.


Source: https://learn2.trade

Monero (XMR) Faces Selling Pressure After Breakout Attempt

Key Resistance levels: $70, $80, $90
Key Support Levels: $40, $30, $20

XMR/USD Price Long-term Trend: Bearish
The coin had been trading above $50 in October in a sideways trend. In November, Monero made a positive move and broke above the $60 price level. The bulls could not sustain the move above the upper price level as the coin was resisted at $65. Monero drops and breaks the low at $50 to a new low of $47. The coin is falling after pulling back to retest the previous low at $50. There are indications that the coin will fall as the previous low has been broken. If the selling pressure continues, the price will reach the lows of either $34 or $40.

XMRUSD-Daily Chart
Daily Chart Indicators Reading:
The downward move has been characterized by a series of lower highs and lower lows. The coin retested the resistance line and made a downward move. The price may fall and reach the lower lows of the support line. The XMR has fallen and reached level 42 of the daily RSI period 14. It also indicates that the coin will fall as it is below the center line 50.

XMR/USD Medium-term bias: Bullish
On the 4-hour chart, the pair drops to the low of $46 and commences an upward move. The upward move was short-lived as the coin was resisted at $56. If the coin continues its falls and breaks below $46, the downward move will resume.

XMRUSD-Daily Chart
4-hour Chart Indicators Reading
The coin falls to the support of the 26-day EMA, if it breaks below it, the coin will resume depreciation. The pair is now trading in the oversold region below 20% of the daily stochastic. This indicates that the market is in a strong bearish momentum.

General Outlook for Monero (XMR)
Monero is trading in the bearish trend zone which tends to fall. Nevertheless, all the indicators are showing bearish signals. The coin is falling after testing the resistance line, if the coin holds above the support at $50, Monero will make an upward move. On the other hand, if it drops below $47, the downtrend will resume.

Monero (XMR) Trade Signal
Instrument: DASH/USD
Order: Buy Limit
Entry price: $47
Stop: $30
Target: $60


Source: https://learn2.trade

Bitcoin Cash (BCH) Holds At The Bottom, Is The Consolidation Ongoing?

Key Resistance Levels: $275, $300, $325
Key Support Levels: $200, $160, $120

BCH/USD Price Long-term Trend: Ranging
Bitcoin Cash had been trading in the large price range between the levels of $200 and $240. Presently, the coin is now fluctuating at the bottom of the chart. In retrospect, the bulls break the $240 resistance line and reached a high of $310. The coin was resisted as BSH drops back to a range-bound zone.

The bears tested the low at $200 but there was a pulled back. The pullback was a correction as the upward move was stopped at $227. BCH is trading between the low at $200 and $227. The bulls are now having difficulty to move upward because of the resistance at $227. Conversely, the bears have failed to break the low of $200.

BCHUSD - Daily Chart
Daily Chart Indicators Reading:
The Fibonacci tool indicates that the coin reverses at the 1.272 extension level. BCH will resume the downtrend if the downtrend line or the support line is broken below. The RSI period 14 level 35 is indicating that the price is falling.

BCH/USD Medium-term bias: Ranging
On the 4-hour chart, the coin is fluctuating between the levels of $200 and $220. The bulls tested and broke the $220 price level but fell back to the range-bound zone. The price is trading below the $227 resistance level; a break is being expected shortly.

BCHUSD - 4 Hour Chart
4-hour Chart Indicators Reading
The market is trading above the 20% range of the daily stochastic. This signifies that BCH is in a bullish momentum. The blue and red lines are trending horizontally indicating that price is fluctuating.

General Outlook for Bitcoin Cash (BCH)
Bitcoin Cash is still confined within the price range of $200 and $240. Presently, BCH is in a tight range; a break above $227 will move price to the high of $240. Nevertheless, a break below $200 may weaken the coin to a low of $160.

Bitcoin Cash Trade Signal
Instrument: BCHUSD
Order: buy
Entry price: $203
Stop: $175
Target: $241

Source: https://learn2.trade