Ripple (XRP) Reaches $0.12 Oversold Region As Buyers Emerge

Key Resistance Levels: $0.30, $0.40, $0.45
Key Support Levels: $0.25, $0.20, $0.15

XRP/USD Long-term Trend: Bearish
Ripple is presently fluctuating between $0.12 and $0.17. The market appears to have reached bearish exhaustion as the coin reached the oversold region of the market. At a low of $0.12, XRP was oversold. Consequently, the bulls emerge to push XRP upward.

The coin rises to a high of $0.15 and resumes consolidation. On the downside, as the price fell to a low of $0.12 and became oversold, a further downward move is doubtful. On the upside, if the bulls break the $0. 17 overhead resistances, XRP will resume an upward move. Meanwhile, the sideways trend may persist if the $0.17 resistance is unbroken.


XRP/USD – Daily Chart
Daily Chart Indicators Reading:
Ripple is trading above 40% range of the daily stochastic. It indicates that Ripple is in bullish momentum but the current upward move is weak. This is in view of the currently prevailing bear market. The moving averages are pointing southward.

XRP/USD Medium-term Trend: Ranging
On the 4-hour chart, Ripple is in a sideways trend as the market fluctuates between $0.12 and $0.17. Ripple was earlier oversold as the market reached bearish exhaustion. Selling pressure is unlikely as the bulls emerge at the oversold.


XRP/USD – 4 Hour Chart
4-hour Chart Indicators Reading
Ripple is now in a horizontal channel as the price fluctuates between $0.12 and $0.17. Meanwhile, Ripple is rising as it reaches level 59 of the Relative Strength index. Ripple is above the centerline 50 indicating that it is in the Uptrend zone. Nevertheless, the 21-day and 50-day SMAs are sloping horizontally indicating the sideways trend.

General Outlook for Ripple (XRP)
Ripple is at the bottom of the chart but it is trading at $0.15 as at the time of writing. The pair is likely to continue its consolidation for a few more days. Presently, the bulls are having the upper hand as the price fluctuates upwards. It is assumed that the selling pressure has been exhausted.

Ripple (XRP) Trade Signal
Instrument: XRP/USD
Order: Buy
Entry price: $0.162
Stop: $0.150
Target: $0.362


Source: https://learn2.trade

EURJPY Extends Decline Lower Past The Level At 117.08

EURJPY Price Analysis – April 3
The FX cross extends its lower fall into the European session early underneath the price level at 117.08 as the pair resumed lower. EURJPY acceleration downside remains intact, as sellers tend to force down prices. The pair’s potential target will be on the 116.00 marks.

Key Levels
Resistance Levels: 122.87, 121.15, 118.87
Support Levels: 116.12, 115.83, 114.39


EURJPY Long term Trend: Bearish
EURJPY is sliding towards the lows of 2020, as the pair trades below its key daily 5 and 13 MAs and signals an apparent bearish trajectory. The pattern remains bearish in the larger sense as the cross stays well within the falling channel formed from 122.87 (high) level.

The downtrend will continue to 109.48 (low) level as long as the resistance level holds at 122.87. Continuous 122.87 level break may, however, conclude a double bottom at (115.83, 116.12) levels which may indicate medium to long-term bullish reversals.


EURJPY Short term Trend: Bearish
The emphasis is now on EURJPY support levels of 115.83/116.12. There the definitive break may accelerate the larger downward trend. Next, a relatively close-term goal would be a 100 percent forecast of 122.87 to 116.12 at 114.39 levels from 121.15.

Nonetheless, on the upside, the break of 118.87 minor level of resistance may assert that consolidation from 115.83 level is increasing with yet another upward step. Intraday bias for resistance level of 121.15 may be shifted further to the upside.

Instrument: EURJPY
Order: Sell
Entry price: 117.08
Stop: 117.71
Target: 116.12

Source: https://learn2.trade

Bitcoin (BTC) Drops To $6,828 After A Sudden Price Spike To $7,283

Key Resistance Zones: $10,000, $11,000, $12,000
Key Support Zones: $7, 000, $6, 000, $5,000

BTC/USD Long-term Trend: Bearish
On March 2, there was a price spike as Bitcoin reached a high of $7,283.50. The bulls could not sustain the upward move as Bitcoin fell to $6,828. The bears are defending intensively the $7,000 overhead resistance. BTC is now fluctuating above $6,800. The bears will further sink BTC if the bulls fail to move up. Bitcoin may fall to the low of the breakout level of $6,400. However, if this level also cracks, the market will further fall to the next support.


BTC/USD – Daily Chart
Daily Chart Indicators Reading:
Bitcoin is above 60% range of the daily stochastic. This is given the recent price spike which tested the resistance line of the descending channel. However, if price breaks and closes above the resistance line, there will be a change in the trend. BTC will resume an uptrend.

BTC/USD Medium-term Trend: Bullish
Yesterday, BTC was making an upward move to retest the $7,000 resistance. The price has earlier moved up to $6,800 before the commencement of price spike. The market moved above the resistance level but could not sustain above $7,000 because of the selling pressure.


BTC/USD
4-hour Chart Indicators Reading
The Relative Strength Index has risen to level 66. It indicates that BTC is in the uptrend zone and above the centerline 50. The 21-day and 50-day SMAs are sloping upward indicating the upward move.

General Outlook for Bitcoin (BTC)
Yesterday, Bitcoin rose to $7,283 in a price spike. The bulls could not sustain the upward move because of the presence of sellers at the price level. BTC dropped to a low of $6,800. The price has since been fluctuating above that level.

Instrument: BTC/USD
Order: Sell
Entry price: $6,784.00
Stop: $6,850.00
Target: $6,584.00

Source: https://learn2.trade

GBPJPY Recovers Momentum Beyond The Level At 134.00

GBPJPY Price Analysis – April 8
The British pound got some momentum and pushed the GBPJPY cross to fresh session highs, above the level of 134.70. The claim that UK Prime Minister Boris Johnson has been reported to be in a stable state, although he continued in ICU, appeared to be the only variable that contributed considerable strength to the pound.

Key Levels
Resistance Levels: 147.95, 138.68, 134.72
Support Levels: 130.49, 127.54, 122.75


GBPJPY Long term Trend: Ranging
In the broader context, ongoing development implies that market behavior at a level of 122.75 (low) is simply a horizontal consolidation trend which has been concluded at 147.95 level. Bigger downward trend from level 195.86 (high) and that from level 251.09 (high) may continue.

The 122.75 level break may approach the 195.86 to 122.75 forecast of 61.8 percent from the next level of 147.95 to 102.76. The trend would in any way stay bearish as long as the level of resistance stays at 147.95.


GBPJPY Short term Trend: Ranging
GBPJPY stays in the corrective increase from the level of 123.99 and the trend remains intact. Another increase may be observed, but the upside would be constrained by a retraction of 61.8 percent from 144.95 to 123.99 at 136.92 levels to restart downward movement.

On the downside, a break of 129.85 minor support levels can alter the downside bias for a low level of 123.94 retests. The sustained break of the level at 137.00 may, nevertheless, improve the chances of trend reversal and shift emphasis to the level of resistance 144.95.

Instrument: GBPJPY
Order: Sell
Entry price: 134.72
Stop: 135.00
Target: 133.39

Source: https://learn2.trade

Bitcoin Cash (BCH) Breaches More Resistance Zones, As Bulls Gain More Grounds

Key Resistance Levels: $275, $300, $350
Key Support Levels: $200, $160, $120

BCH/USD Price Long-term Trend: Bullish
Bitcoin Cash has maintained its bullish run as the resistance at $240 and $260 were broken. Unfortunately, BCH reached a high of $280 but was resisted. The bears pulled back to the low of $260. The market is holding above $260 support. On the upside, if the bulls sustain price above $260 and the $280 resistance is broken, BCH is likely to reach a high of $350. On the other hand, where the bulls fail to overcome the current resistance, price will fall to the low above $260.


BCH/USD – Daily Chart
Daily Chart Indicators Reading:
Bitcoin cash is above 80% range of the daily stochastic. This means that BCH is in the overbought region of the market. It also means that sellers may emerge at the $280 overbought region. The downward move has already began. Although, the extend of the downward move is unclear. The 26-day EMA is acting as resistance to the coin

BCH/USD Medium-term Trend: Bullish
On the 4-Hour chart, BCH is in an uptrend. BCH is making a series of higher highs and higher lows. BCH has reached a high of $280. The price is retracing from a high of $280 to a low of $260.


BCH/USD – 4 Hour Chart
4-hour Chart Indicators Reading
BCH has risen to level 54 of the daily Relative Strength Index period 14. BCH is above the centerline 50 which means that it is in an uptrend zone. The moving averages are sloping upward indicating the uptrend.

General Outlook for Bitcoin Cash (BCH)
Bitcoin Cash has moved closer to the uptrend zone as the market reaches a high of $280.The bulls are yet to break above the current resistance after being resisted twice. The price is currently consolidating above $260 to resume an upward move.

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AUDUSD Recovers Past Level At 0.6350 Alongside Global Stocks

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AUDUSD Price Analysis – April 9
The Australian dollar also shifted along with global stocks, as coronavirus outbreaks, particularly in the US, are already reaching a peak. On Thursday, the AUDUSD pair pushed higher and renewed session highs in the last hour, while displaying considerable strength beyond the 0.6350 level.

Key Levels
Resistance Levels: 0.7031, 0.6684, 0.6434
Support Levels: 0.6213, 0.5959, 0.5506


AUDUSD Long term Trend: Ranging
In the broader context, the decline in AUDUSD from 0.7031 (high) level is still ongoing. This is part of the greater downtrend from 1.1079 (high) level. The forecast of 61.8 percent from 0.7205 at 0.5506 level of 1.1079 to 0.6878 is now completed.

There the continuous break lays the groundwork to level 0.4773 (low). On the upside, it requires a break of 0.6684 support turned resistance level to suggest medium to long term bottom. Without it, also in the event of a speedy recovery, the pattern can stay bearish.


AUDUSD Short term Trend: Ranging
Intraday bias in AUDUSD stays upside down as the recovery from the level of 0.5506 indicates progress. Another increase of 0.5506 to 0.6213 from 0.5959 at 0.6434 levels can be seen to be 61.8 percent.

On the downside, the 0.5959 level break would now signify the conclusion of the increase from the level at 0.5506. Intraday bias may be switched back to the downside for a 0.5506 level retest.

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Litecoin (LTC) Holds Above $40,Battles $42 Minor Resistance

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Key Resistance Levels: $70, $80, $90
Key Support Levels: $50, $30, $10

LTC/USD Price Long-term Trend: Bearish
After the bearish impulse on April 13, LTC dropped to $40 low. The selling pressure was caused by price as the pair reached $47 overbought region. Sellers pushed prices down to $40 low. This provides buying opportunities as buyers emerged. It is anticipated that a repeat rebound is likely as price moves up. The market is likely to retest the $47 resistance if a rebound occurs. However, if the bears suddenly break below $40, the coin will drop to $35 low.


LTC/USD – Daily Chart
Daily Chart Indicators Reading:
The 21-day SMA is acting as a support for Litecoin. The pair is also at level 46 of the Relative Strength index. It indicates that it is in the downtrend zone and below the centerline 50. There is a tendency for price falling.

LTC/USD Medium-term Trend: Bullish
On the 4 hour chart, Litecoin is in an upward move. Presently, the upward move has been hampered because of the resistance at $47. The bearish impulse has broken the trend line. Technically, the uptrend has been terminated. A fresh upward move has begun if the bulls sustain the momentum.


LTC/USD – 4 Hour Chart
4-hour Chart Indicators Reading
The 21-day and 50-day SMAs are sloping upwardly to indicate the uptrend. LTC is above 40% range of the daily stochastic. The pair is in a bullish momentum.

General Outlook for LTC
Litecoin is in an upward move after falling to a low of $40. The current support is holding as the market moves up. The uptrend will resume if price breaks above the trend line.

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RIPPLE (XRP) SLUMPS ABOVE $0.18, FAILS TO RALLY ABOVE $0.20 RESISTANCE

No Commentson Ripple (XRP) Slumps Above $0.18, Fails to Rally above $0.20 Resistance
Key Resistance Levels: $0.30, $0.40, $0.45
Key Support Levels: $0.25, $0.20, $0.15

XRP/USD Long-term Trend: Bearish
Ripple has continued to sink after failing to hold above $0.18. Its initial battle was at $0.20500 resistance. After two unsuccessful attempts to break it, it was repelled to $0.18 low. The bulls regrouped and moved up but were stopped at the $0.19500 resistance.

Since April 10, the market has been fluctuating between $0.18 and $0.19500 to break the minor resistance at $0.19500. The bears have overwhelmed the bulls as the $0.18 support is under threat. The bears broke the current support as the bulls pulled back at $0.18450 high at the time of writing.


XRP/USD – Daily Chart
Daily Chart Indicators Reading:
Recently, the coin has continued its downward move as it has been repelled at the $0.20500 and $0.19500 resistances.XRP has fallen to level 47 of the Relative Strength Index period 14. It means it is in the downtrend zone and below the centerline 50.

XRP/USD Medium-term Trend: Bullish
On the 4 hour chart, Ripple is in an uptrend. A trend line is drawn showing the support levels of price. The upward move has been hindered by the $0.20500 and $0.19500 resistances. The bears have broken below $0.18 but the bulls pulled back above the support.


XRP/USD – 4 Hour Chart
4-hour Chart Indicators Reading
The 50-day and the 21-day SMA are sloping upward indicating the upward move. XRP has fallen below 20% range of the daily stochastic. This implies that Ripple is in the oversold region. Buyers are likely to emerge to push XRP upward move.

General Outlook for Ripple (XRP)
Ripple continues to fall after being resisted from the $0.20500 and $0.19500 price level. The bulls are presently defending the $0.18 support. On the downside, if the bears break below the $0.18 support, XRP will drop to $0.174 or $0.17. In the meantime, the $0.18 support is likely to hold as the coin is in a bullish momentum.

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CRUDE OIL: WTI STAYS SUBDUED AS BEARS SNAP TOWARDS $13 IN OVERSUPPLY

WTI Stays Subdued As Bears Snap Towards $13 in Oversupply
USDWTI Price Analysis – April 27
Oil prices started on a sour note in the last week of April, dropping over 8 percent during Monday’s session on sustained over-supply fears. A barrel of the North American benchmark, West Texas Intermediate (WTI), is losing value close to $14.50 level, marking an 8.85 percent decline on the day.

Key Levels
Resistance Levels: $21.34, $20.08, $18.52
Support Levels: $13.43, $10.20, $6.45


USDWTI Long term Trend: Bearish
The moving average of 5 and a multi-day sliding trendline, around $18.52 and $20.08 levels simultaneously, tend to barricade the potential upside to the oil benchmark. While level $10.20 stays on the watchlist of the bears throughout the ongoing price falls.

After demonstrating three days in a row of reversals, June’s WTI futures decline 8 percent to a level of $14.50 before continuing into Monday’s European open. Producers will temporarily shut down the supply to balance the lack of demand which may cause more market instability as price swings to the downside before supply equals demand.


USDWTI Short term Trend: Bearish
WTI price action is currently trading at a $14.50 level beyond the near-term lower end of the range at $13.43 level. With the upward level of resistance shown at $18.52 in the near term, analysts expect prices to trade within that range.

On the upside, a break beyond $18.52 level would see oil prices challenging the $20.08 psychological level of resistance. Prices are somewhat likely to stay subdued in the short term and risk selling pressure, particularly with the storage concerns now lingering.

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Bitcoin (BTC) Stable Able $7,500, Sellers May Likely Emerge

Key Resistance Zones: $10,000, $11,000, $12,000
Key Support Zones: $7, 000, $6, 000, $5,000

BTC/USD Long-term Trend: Bullish
Bitcoin is still consolidating above $7,500 since March 23. The price action is characterized by small body indecisive candlesticks. The candlestick indicates that buyers and sellers are undecided about the next move of the coin. On the upside, if the market decides to go up above $8,000; the momentum will extend to $9,000.

The $8,000 resistance is regarded as the major resistance to be crossed. Bitcoin will have move avenues for price rallies. Conversely, if BTC faces rejection, its initial drop will be to a low of $7,200. Subsequently, the downward move will extend to either $6,800 or $6,600 low.


BTC/USD – Daily Chart
Daily Chart Indicators Reading:
Bitcoin’s recent upward move rises to level 59 of the Relative strength index indicating that the coin is in an uptrend zone. The RSI is currently flat as the sideways trend continues. It is also above the centerline 50. The moving averages have indicated a bullish crossover.

BTC/USD Medium-term Trend: Bullish
On the 4– hour chart, the price spike reached the trend line and pulled back above $7,500. The market is fluctuating above 21-day SMA and 50-day SMA. At the end of consolidation, price may break below SMAs or the SMAs may hold. BTC may fall, if it breaks below the SMAs. However, the uptrend will resume, if the SMAs hold.


BTC/USD – 4 Hour Chart
4-hour Chart Indicators Reading
The market reached the overbought region after the price spike. BTC is below 80% range of the daily stochastic. This is in contradiction to the price action as the market is still consolidating. The SMAs are sloping upward.

General Outlook for Bitcoin (BTC)
Bitcoin is still above $7,500, sustained by small body candlesticks describing the indecision of buyers and sellers about the direction of Bitcoin. However, there is a bearish signal of its impending fall.

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EURJPY EMERGES UPWARD AFTER A REBOUND FROM THE LOW LEVEL AT 114.39

EURJPY Emerges Upward After a Rebound From the Low Level at 114.39

EURJPY Price Analysis – May 8
Since the prior trading session, the common European currency has risen 77 basis points or 0.67 percent against the Japanese Yen. The currency pair on Friday surpassed the upward moving average of 5. While emerging upwards after a low-level rebound at 114.39, the selling bias in EURJPY stays far in a position which seems to be the likelihood of a broader selloff.

Key Levels
Resistance Levels: 122.87, 119.00, 117.50
Support Levels: 114.39, 113.70, 100.21


EURJPY Long term Trend: Bearish
Towards the context of rising downward risk, the cross is undergoing another critical contest in the lows of November 2016 in the 113.70 area. Aiming at the wider context, it is anticipated the downside tension may forfeit such traction beyond the initial resistance, now around 117.08 level.

The exchange rate is currently positioned close to a cluster of resistance established by the monthly support and the moving average of 5 at 115.54 level. The EURJPY pair may slip lower within this session if the resistance cluster stays. Though, when the exchange rate rises towards a higher moving average 5 another goal for the price would be in the region of 116.00 level.


EURJPY Short term Trend: Bearish
EURJPY has reached a brief low of 114.85 level, ahead of a 100% forecast of 122.87 to 116.22 from 119.00 at 114.39 levels. With consolidations, the intraday bias is rendered neutral. However, to deliver on another fall, recovery should be restricted underneath the 117.50 resistance level.

On the drawback, the 114.39-level breach may continue a broader downward trend to the 100.21-level estimate of 161.8 percent. In either scenario, the trend may likewise stay bearish as long as 122.87 resistance level stays intact, in the event of a further rebound.

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BITCOIN (BTC) RALLIES TO $10,000, ATTEMPTS TO BREACH THE RESISTANCE AT $10,000

Bitcoin (BTC) Rallies to $10,000, Attempts to Breach the Resistance at $10,000

Key Resistance Zones: $10,000, $11,000, $12,000
Key Support Zones: $7, 000, $6, 000, $5,000

BTC/USD Long-term Trend: Bullish
Bitcoin has finally broken the $9,200 and $9,400 resistances as the market approaches the $10,000 resistance. Yesterday, price was hovering between $9,000 and $9,300 before penetrating the resistance zone. From the daily chart, Bitcoin has reclaimed the $9,500 price level in February. The bulls are likely to push above the $10,000 resistance but are currently facing resistance.


BTC/USD – Daily Chart
Daily Chart Indicators Reading:
Bitcoin is at level 78 of the daily Relative strength index. This indicates that the market is in the overbought region where sellers are likely to emerge. In some trending markets, the oversold or overbought conditions may not hold. The 21-day SMA and the 50-day SMA are sloping upward.

BTC/USD Medium-term Trend: Bullish
On the 4– hour chart, Bitcoin is in an uptrend. The price action indicates that on April 30, the bulls fail to break the $9,200 resistance. Yesterday, the $9,200 and $9,400 were broken as the market approaches $10,000 resistance. Presently, the bulls are being resisted at the $10,000 resistance. The crypto is retracing and may reach a low of $9,500.


BTC/USD – 4 Hour Chart
4-hour Chart Indicators Reading
BTC is currently above 80% range of the daily stochastic. The price is in the overbought region. The SMAs are sloping upward as Bitcoin continues its rise. Sellers are likely to emerge in the overbought region.

General Outlook for Bitcoin (BTC)
Bitcoin has reached the $10,000 price level. The coin is gaining more bullish momentum as it is expected to hit the $10,500. However, at the moment, the bulls are facing resistance as BTC retraces. The uptrend will resume immediately after the retracement.

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USDCHF Trades Inside Triangle Range Gaining Traction for a Breakout Towards 0.9800 Level

USDCHF Price Analysis – May 15

Through the early European session, the USDCHF pair exchanged with a slight positive bias, though missing any significant follow-through buying and staying constrained beneath weekly highs. Though the level of 0.9800 remains in reach as USDCHF trades inside the triangle gaining momentum for a probable breakout.

Key Levels
Resistance Levels: 1.0231, 1.0027, 0.9766
Support Levels: 0.9669, 0.9440, 0.9181

USDCHF Long term Trend: Ranging
The pair have repeatedly faced opposition from a technical viewpoint, near the triangle’s very critical upside trendline. The price swings also, additionally, seen able to offer solid dip-buying that supports the potential for further gains. Waiting for a steady push beyond the 0.9800 marks would be prudent as well to validate the bullish bias.

The Swissy was last seen trading near the region of 0.9738 as market participants now look to the required momentum for a drive to level 0.9800. If sellers regain control and move underneath the moving average of 5 and 13, immediate support may emerge from the ascending trendline around 0.9700 level and the low-level horizontal support of 0.9669.

USDCHF Short term Trend: Ranging
USDCHF trade sideways whilst testing the 0.9766 resistance level on the pathway. The view is consolidated with the market being somewhat bumpy at present indicating little or no directional bias.

That being said, a daily closing beyond the resistance level of 0.9766 could encourage more buying and a 0.9800 level retest while a daily closing underneath the level of 0.9700 may be seen as bearish. On the contrary, a test at 0.9902 high level would seek a breach of 0.9800 level.

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Ethereum (ETH) Loses $200 Critical Support, May Encounter another Selling Pressure

Key Resistance Levels: $225, $250, $275
Key Support Levels: $150, $125, $100

ETH/USD Long-term Trend: Bearish
Ethereum has been trading above $200 after a rebound on May 7. However, the king altcoin suffered another setback after a breakdown yesterday. The coin dropped to $180 low but price corrected upward above $185. On the downside, ETH is likely to fall as there is a bearish signal. The market is heading to $180 low and if $180 low cracks, the coin will reach the low of $170. Alternatively, if bulls buy from the dips, a rebound above $180 will propel price to rally above $200.


ETH/USD – Daily Chart
Chart Indicators Reading:
The price has broken the support line and closed below it. This implies that Ether will continue the downward move. ETH is at level 46 of the Relative Strength Index period 14. This indicates that the coin is in the downtrend and it is likely to fall.

ETH/USD Medium-term Trend: Bearish
On the 4 hour chart, price breaks the support levels of $200 and $190 to reach a low of $180. The price is presently consolidating above $180 support level. Presently, the price has resumed a downward move.


ETH/USD – 4 Hour Chart
4-hour Chart Indicators Reading
The 21-day SMA and 50-day SMA are sloping downward indicating the downtrend. ETH is below 40% range of the daily stochastic but the bands are sloping upward. This is contrary to the present price action that is indicating a bullish signal.

General Outlook for ETH
Ethereum is in a downtrend as it trades in the bearish trend zone. Price is approaching $180 support, and ETH will be weakened if the support cracks. The coin will decline to $170 and $150 if the downtrend continues.

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Bitcoin Cash (BCH) Is Consolidating, but Faces Rejection at $250 Resistance

Key Resistance Levels: $275, $300, $350
Key Support Levels: $200, $160, $120

BCH/USD Price Long-term Trend: Bullish
Today, Bitcoin Cash is consolidating above $230 but characterized by small body candlesticks. On May 8, the bulls attempted to retest the $280 resistance but were resisted. BCH dropped to $230 low and resumed consolidation. Further upward move has been resisted below $250 high. BCH will fall to $200 low if the bulls fail to break the resistance at $250.


BCH/USD- Daily Chart
Daily Chart Indicators Reading:
The 21-day SMA and 50-day SMA are sloping horizontally indicating the price consolidation. BCH is at level 47 of the daily Relative Strength Index. BCH is in a downtrend zone and may likely fall.


BCH/USD Medium-term Trend: Ranging
On the 4-Hour chart, BCH is in a sideways move. The crypto has been in a range bound movement between $230 and $250 since May 10. The bulls find penetration difficult at the $250 resistance level. There is likelihood of continuous price fluctuation until the levels are broken.


BCH/USD – 4 Hour Chart
4-hour Chart Indicators Reading
Bitcoin Cash is above 20% range of the daily stochastic. The stochastic bands are pointing downward and approaching the oversold region. BCH will resume upward move, if the lower price range holds. The coin will further depreciate if the lower price range is broken.

General Outlook for Bitcoin Cash (BCH)
The crypto is in a period of consolidation. The uptrend will resume if price breaks above the $250 resistance. The market will remain in consolidation if the levels remained on unbroken.

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Bitcoin Witnesses Mild Selloff Following a Decade-Old Address’ Transaction

The cryptocurrency community was thrown into a frenzy yesterday after an unusual 50 BTC transaction was carried out by a Satoshi-era wallet which was assumed to be dormant for over a decade. Initially, many believed that this transaction was from the elusive Satoshi Nakamoto, however, subsequent data proved otherwise. The data suggests that it was from an early Bitcoin miner or adopter.

What’s interesting to note is that the last time a transaction was made from this era of holders, Bitcoin recorded a 28% jump days later.

Satoshi is believed to own about 1 million BTC. The prospect of him/them selling this holding (in whole or part) could trigger the worst selloff in Bitcoin history and cause serious damage to the crypto industry as a whole.

Yesterday’s event triggered a sharp decline in Bitcoin which caused the crypto to shed about $500 in just an hour. This ‘mini’ selloff is believed to be an overreaction to the news, which means that Bitcoin could be in the process of seeing a steep recovery in the coming hours. Also, considering past occurrences with Satoshi-era transactions, Bitcoin is very likely to witness a massive bull run soon.


BTCUSD -Daily Chart

Bitcoin (BTC) Value Forecast — May 21

BTC/USD Major Bias: Bullish

Supply Levels: $9,500, $9,800, and $10,000

Demand Levels: $9,200, $9,000, and $8,800

The sharp decline seen yesterday—induced by the event documented in this article—has put Bitcoin in a precarious zone (below the $9,500 pivot level). BTC is trading at the $9,300 – 400 level at press time and needs to recover above the $9,550 level soon to regain its bullish momentum. Failure to recover above this line, and soon, could send BTC down to subsequent support levels.

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USD/JPY Consolidates Below Level 108, Breakout Likely

Key Resistance Levels: 111.000, 112.000, 113.000
Key Support Levels: 104.000, 103.000, 102.000

USD/JPY Price Long-term Trend: Ranging
The pair is currently in a sideways move between the levels of 110 and 108. The Yen was in an uptrend but it is facing resistance at level 108. The pair is on a downward move as a result of the resistance at level 108. The Yen may reach a low of level 106 if the selling pressure continues.


USD/JPY – Daily Chart
Daily Chart Indicators Reading:
The 21-day SMA and 50-day SMA are sloping horizontally indicating the sideways move. The Yen is currently at level 51 of the daily Relative Strength Index. The Japanese Yen is still in the uptrend zone and above the centerline 50. The market is currently falling after resistance.


USD/JPY Medium-term Trend: Bullish
The USD/JPY pair is trading in a bear market. Recently, the Yen moved up but was resisted twice at level 108. On May 14, A bullish candle body tested the 0.382 Fibonacci Retracement level. As the bullish candlestick tested the 0.382 retracements, the Yen will fall and reverse at 1.618 extension level. This is equivalent to level 106.


USD/JPY – 4 Hour Chart
4-hour Chart Indicators Reading
The pair is below 80% range of the daily stochastic. This implies that the market is in a bearish market. This is a confirmation to the price action which is indicating bearish signals. The SMAs are also sloping upward indicating the upward move.

General Outlook for USD/JPY
The Japanese Yen is currently in a downward move after falling from level 108. The market will fall to level 106.800 but if the selling pressure persists, the pair will reach the low of 106. Alternatively, the price will consolidates below level 108 for a breakout.

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Gold Suffers Mild Decline Following Growing US-China Tensions

Gold (XAU/USD) dipped in the early Asia trading session on Monday as growing US-China tensions continue to influence demand on the safe-haven asset.

Gold futures shed about 0.47% reaching a low of $1,724 just a few hours ago. The precious metal failed to hold on to its gains from last week’s session.

Stocks, which are generally expected to move in the opposite direction of gold, were trapped in a bout of uncertainty with Chinese stocks suffering serious losses at the open of the session.

According to reports, investors’ risk sentiment declined following China’s decision to formally table national security laws for Hong Kong and Macau as the National People’s Congress opened on Friday. This announcement caused citizens of Hong Kong to take to the streets in protest on Sunday. The protesters were met with heavy resistance from the police who fired water cannons to disperse them.

The tension between the world powers escalated after Chinese Foreign Minister, Wang Yi, said on Sunday night that the US was nearing a ”new Cold War” with China following President Trump’s threat of ‘strong action’ should the proposed law be enacted. This threat was followed by the US Commerce Department blacklisting 33 Chinese entities on Friday.


XAUUSD – Daily Chart
Gold (XAU) Value Forecast — May 25

XAU/USD Major Bias: Bullish

Supply Levels: $1,745, $1,763, and $1,797

Demand Levels: $1,722, $1,717, and $1,700

The XAU/USD was met with a soft decline to the $1,720’s level as projected last week. Gold has resumed on its upwards move to the anticipated $1,740 level. However, gold has to stay above $1,722 to confirm its bullish momentum. A break below that level could send the price down to $1,700 – $1,695 levels rapidly. Overall such reality seems very unlikely for gold in the time being.

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EURUSD Confronts a Larger Barrier at 1.1257 Level While Exiting Overbought Positions

EURUSD Price Analysis – June 4
EURUSD ‘s latest dip from a high of 1.1257 while vacating overbought positions to a level of around 1.1200 could pave way for the rally to recover. In recent days the awaited announcement of the ECB ‘s decision has risen and improved the euro – potentially putting the FX pair higher.

Key Levels
Resistance Levels: 1.1495, 1.1366, 1.1257
Support Levels: 1.1020, 1.0870, 1.0635

EURUSD Long term Trend: Ranging
After seven daily progressions in a row, ranging at 3-month highs in the previous session’s level of 1.1257, EURUSD is now under some downward pressure and falling to the sub-1.1200 area. Sellers in the pair moved in following conditions of overbought (according to daily RSI).

The pair is presently declining 0.27 percent at level 1.1203 and confronts initial support at level 1.1020 followed by level 1.0950 and eventually level 1.0870 (low). On the contrary, a 1.1257 (high) level breakthrough may aim 1.1366 (high) inching closer to 1.1458 (high) level.

EURUSD Short term Trend: Bullish
On the 4-hour chart, the Relative Strength Index has fallen underneath 70, exiting overbought conditions. Momentum stays upside-down and the pair shifts between the 5 and 13 moving average. Resistance lies at level 1.1236, a necessary step on the way to the top in the last few days, leading to a new high of 1.1257 level.

The next significant level to note is level 1.1366 as seen on the daily chart. Short term support beckons at a level of 1.1183, a support line in recent days, trailed by a level of 1.1146, a high swing from April, and also a range sealer.

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EUR/CHF Approaching the Overbought Region, Sellers May Emerge

Key Resistance Levels: 1.09000, 1.10000, 1.11000
Key Support Levels: 1.05400, 1.05200, 1.05000

EUR/CHF Price Long-term Trend: Bullish
EUR/CHF pair is in an uptrend. The pair rebounded at the low of 1.05000 to resume an upward move. A correction candle body tested the 0.618 Fibonacci retracement level. This indicates that the pair will rise and reach level 1.618 Fibonacci extension level. This is at the price level of 1.07500. However, the Relative Strength indicates that the market has reached the overbought region. This pair may likely fall.


EUR/CHF – Daily Chart
Daily Chart Indicators Reading:
EUR/CHF is at level 78 of the Relative Strength index period 14.
EUR/CHF has reached the overbought region. Sellers may likely emerge to push prices down. The 50-day SMA and 21-day SMA are sloping upward indicating the bull market.


EUR/CHF Medium-term Trend: Bullish
On the 4-hour chart, the EUR/CHF pair was earlier in an uptrend. The pair has reached level 1.08055 and approaching the overbought region. The pair may be resisted at a high of level 1.08500.


EUR/CHF – 4 Hour Chart
4-hour Chart Indicators Reading
The 50-day and 21-day SMA are sloping upward indicating the uptrend. The pair is above 80% range of the daily stochastic. EUR/CHF pair is now in the overbought region. The 21-day SMA crosses over the 50-day SMA indicating the uptrend.

General Outlook for EUR/CHF
EUR/CHF is an upward move but approaching the overbought region. It is likely to reverse and resume a downward move.

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USD/CAD Reaches Oversold Region at level 1.33850, Buyers Likely to Emerge

Key Resistance Levels: 1.42000, 1.44000, 1.46000
Key Support Levels: 1.34000, 1.32000, 1.30000

USD/CAD Price Long-term Trend: Bearish
The USD/CAD pair is on a downtrend. A correction candle is testing the 0.382 Fibonacci retracement level. This indicates that the Loonie will fall and reach a target price of 2.619 Fibonacci retracement level. The target price has been achieved and the market is currently consolidating. The RSI is indicating that the Loonie is in the oversold region.


USD/CAD – Daily Chart
Daily Chart Indicators Reading:
The 50-day SMA and the 21-day SMA are sloping downwards indicating the bearish trend. The Loonie has fallen to level 28 of the Relative Strength Index. This indicates that the pair is in the oversold region and also below the centerline 50.


USD/CAD Medium-term Trend: Bearish
The Loonie is in a downtrend. The market has reached the first target and the second target of the Fibonacci tool. The price fell to level 1.33595 low and moved up. The pair corrected upward but was resisted at level 1.35000. After the retest, the downtrend is continuing. It is likely we are going to short again.


USD/CAD – 4 Hour Chart
4-hour Chart Indicators Reading
Presently, the 21-day SMA and 50-day SMA are slowing downward indicating the downtrend. The Canadian dollar is below 40% range of the daily stochastic. This indicates that the pair is in a bearish trend.

General Outlook for USD/CAD
The USD/CAD pair is in approaching the oversold region. The market is sowing a bearish exhaustion as price consolidates.

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Favorable Conditions Surrounding Gold Could Send It to $1,765 in the Near-Term

Gold (XAU/USD) remains in a consolidation range around $1,724-30 as we head into the early hours of the European session. The yellow metal has recovered well from an intraday low on the back of fresh US-China tensions.

Apart from the US-China disagreements, fears over a second wave of the Covid-19 outbreak are heavily influencing the market’s risk-sentiment. The latest updates from the US indicate that there was a jump in cases from Texas while the hospitalization rate increased drastically in Oklahoma and Florida on Wednesday. However, President Donald Trump has hinted at a possible cure for the disease, which appears to have calmed the risk-off bias.

Furthermore, the India-China tussle and the Asian Development Bank’s ‘downward revision’ to the growth forecasts for 2020 are also adding pressure on the market’s trading sentiment. Many expected that the surprise rate cut by the People’s Bank of China would tame the pessimism, however, this went by mostly unnoticed.

The US 10-year Treasury yields remain in a downtrend causing the US dollar index (DXY) to remain under selling pressure thereby increasing the demand for the dollar-denominated commodity.

Although the market remains in a mixed market-sentiment state, gold could likely gain more bullish momentum in the near-term.


XAUUSD – Daily Chart
Gold (XAU) Value Forecast — June 18

XAU/USD Major Bias: Sideways

Supply Levels: $1,735, $1,745, and $1,753

Demand Levels: $1,717, $1,710, and $1,705

Gold has recovered fairly well since its recent bounce off our ascending channel baseline. Gold remains dedicated to retaking the $1,745 resistance and will likely do so soon. A surge to the $1,765 level (2020-high) is looking increasingly possible in the near-term. Meanwhile, a drop below $1,711 seems very unlikely considering the activities playing out on the global space.

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AUD/JPY Is in a Downtrend, Targets Level 72.000

Key Resistance Zones: 74.000, 76.000, 78.000
Key Support Zones: 66.000, 64.000, 62.000

AUD/JPY Long-term Trend: Bearish
The pair is in a downward move. The market was earlier in a bearish trend. A correction candle tested the 0.786 Fibonacci retracement level. It indicates that the market will rise and reach a high of 1.272 Fibonacci level. The pair is currently on a downward move as it reaches the overbought region.


AUD/JPY – Daily Chart
Daily Chart Indicators Reading:
Presently, the pair has fallen to level 55 of the Relative Strength Index period 14. It implies that AUD/JPY is on a downward move after an overbought region of the market. Sellers have emerged to push prices down. The 21-day SMA and the 50-day SMA are sloping upward.It implies that the market is rising.

AUD/JPY Medium-term Trend: Bearish
On the 4- hour chart, the currency pair is in a downward move. The market makes an upward move to retest level 75.000 and later resume the downward move. If price breaks the bullish trend line and closes below it, it will revisit level 72.000.


AUD/JPY – 4 Hour Chart
4-hour Chart Indicators Reading
The market is presently above 20 % range of the daily stochastic. This implies that the pair is in a bullish momentum. This is contrary to the price action which indicates a bullish signal. The 21-day and 50-day SMA are sloping downward indicating the downtrend.

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General Outlook for Italy AUD/JPY
The currency pair is on a downward move after retesting level 75.000. The Fibonacci tool has indicated that the market will reach a low of level 1.272. In other words, the market will reach level 72.000.


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GBPJPY Records Intense Selling for the Fourth Straight Session, Stays Beneath 132.00 Level

GBPJPY Price Analysis – June 21
In the last session, the GBPJPY cross lost some extra ground and slipped to new monthly lows while staying beneath the 132.00 level. The collapse was supported by the strongly offered tone encircling the British pound which accompanied the last session’s policy decision by the Bank of England (BoE).

Key Level
Resistance Levels: 147.95, 139.74, 136.23
Support Levels: 129.29, 123.99, 122.75
GBPJPY Long term Trend: Ranging
In the wider context, we’re witnessing price actions from 122.75 (low) level, which is observed as a sideways consolidation trend. So long the resistance level of 147.95 holds, there is a potential downside breakout in support.

A strong breach of 147.95 level may however increase the risk of a long-term bullish reversal. Then the emphasis is shifted to the level of resistance of 156.59 for validation.

GBPJPY Short term Trend: Bearish
GBPJPY’s decline from the short term high level of 139.74 stretched to as low as last week’s level of 131.90. A recent trend implies a corrective recovery from level 123.99 has been accomplished with 3 phases to level 139.74. This week’s initial bias stays on the downside with support level 129.29.

A strong breach there will affirm this bearish scenario and open the way for low-level retests of 123.99. On the positive side, to signify the finalization of the collapse, a breakage of 136.23 minor resistance level is required. Alternatively, in the circumstance of recovery, further collapse is anticipated.

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USD/JPY Retests Level 107.000, Resumes Downtrend

Key Resistance Levels: 111.000, 112.000, 113.000
Key Support Levels: 104.000, 103.000, 102.000

USD/JPY Price Long-term Trend: Ranging
USD/JPY pair is currently on a downward move. The green correction candle body tested the 0.786 retracement level. It indicates that the Yen will fall to a low of 1.272 extension level. After reaching the target price, the market will reverse. However, the reversal will not be immediate.


USD/PY – Daily Chart

Daily Chart Indicators Reading:
The 21-day SMA and 50-day SMA are sloping downward. The market is now in a downtrend. The Yen has fallen below a 20% range of daily stochastic. It indicates that the market is approaching the oversold region. Buyers are likely to emerge when the pair reached the oversold.

USD/JPY Medium-term Trend: Bearish
The USD/JPY pair is currently on a descending channel. The price is testing the 12-day EMA on the upside. The Japenese Yen will fall if resisted by the 12-day EMA. The market will fall and reach a low of level 106.000.

4-hour Chart Indicators Reading
The SMAs are also sloping downward. The pair has fallen to level 44 of the Relative Strength Index. It indicates that Yen is in the downtrend zone and likely to fall.


USD/USD – 4 Hour Chart
General Outlook for USD/JPY

The pair is presently retesting the 12-day EMA. Perhaps, after the retest, it will make a downward move. As long as the price bars are below the EMAs, the market will continue to have a downward movement.

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Gold to Hit $1,800 Mark as Inflation-Hedge Assets Gains Appeal: TD Strategists Declare

Gold remains range-bound around the $1,770 level for the better part of the European session and even now as we approach the close of the session. Meanwhile, strategists at TD Securities have opined that the yellow metal will likely surpass the $1,800 mark as inflation-hedge assets gain popularity.

According to the strategists, gold is on the brink of a breakout as recent price action continues to strengthen investors’ view of gold’s role switching from just a safe-haven asset to an inflation-hedge product. They added that the whole “maturity spectrum” of inflation breakevens are still considered to be below policy objectives. This means that declining rates should extend further support for gold to take the $1,800s in the near-term.

They ended by citing that recent changes in the Federal Reserve’s template strongly suggest that inflation-hedge assets like gold could continue to grow in popularity.


XAUUSD – Daily Chart
Gold (XAU) Value Forecast — June 29

XAU/USD Major Bias: Bullish

Supply Levels: $1,779, $1,790, and $1,800

Demand Levels: $1,765, $1,758, and $1,745

Gold remained in a consolidation range throughout today’s trading session considering there were no significant fundamental catalysts today. We can observe a descending trendline on our MACD indicator. A break above this line will be a healthy signal that gold has regained its bullish steam and we could see it go for the $1,800 yet again.

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EUR/CHF Resumes Uptrend, Targets Level 1.07000

Key Resistance Levels: 1.09000, 1.10000, 1.11000
Key Support Levels: 1.05400, 1.05200, 1.05000

EUR/CHF Price Long-term Trend: Bullish
EUR/CHF pair is in an uptrend. A correction candle body tested the 0.382 Fibonacci retracement level. It indicates that the market will reach a low of 2.618 extension level. EUR/CHF’s first target will be at level 1.618 Fibonacci extension level. The second target will be at level 2.618 extension level.


EUR/CHF – Daily Chart
Daily Chart Indicators Reading:
EUR/CHF has fallen to level 51 of the Relative Strength Index period 14. The pair is now in the uptrend zone and above the centerline 50. The 50-day SMA and 21-day SMA are sloping downward which indicates the previous trend.

EUR/CHF Medium-term Trend: Bullish
On the 4-hour chart, the EUR/CHF pair is in an upward move. The pair fell to level 1.06306 and resumed an upward move. The price is approaching level 1.07000 which is a resistance level. The pair will continue its upward move if that resistance is breached. Otherwise, the pair will be repelled.


EUR/CHF – 4 Hour Chart
4-hour Chart Indicators Reading
The 50-day and 21-day SMA are sloping upward. It indicates the uptrend. The pair is above 60% range of the daily stochastic. EUR/CHF is in a bullish momentum. The market is approaching the overbought region.


General Outlook for EUR/CHF
EUR/CHF pair has resumed an upward move after falling to the low of level 1.06306. According to the Fibonacci tool, the uptrend will reach the high of level 2.618 extension level. In other words, the pair will rise and reach the high of 1.14486

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AUDUSD Continues Trading Beneath 0.7000 Level

AUDUSD Price Analysis – July 9
The AUDUSD pair retreated to level 0.6950 after failing to rise above 0.7000 level earlier in the week. Despite the growing number of confirmed infections with coronavirus in the US, increased optimism about a vaccine allows market sentiment to remain upbeat.

Key Levels
Resistance Levels: 0.7205, 0.7064, 0.7031
Support Levels: 0.6938, 0.6777, 0.5906

AUDUSD Long term Trend: Bullish
In the wider context, the medium- to long-term bottom recovery from 0.5506 may be a reversal of the long-term downward trend from 1.1079 (high) level. A further rally on the horizontal resistance now at 0.7310 level may be seen to be high.

This will stay the default case as long as it is now at 0.6777 level above the ascending trend line. Continuous trading underneath the ascending trendline would then shift the emphasis back to a low level of 0.5506.

AUDUSD Short term Trend: Ranging
For the moment, the intraday bias in AUDUSD stays neutral. Price activity from level 0.7064 is interpreted as a pattern of correction. Until the pattern ends, one more fall is predicted. On the downside, for a support level of 0.6777, below 0.6938 minor support level would transform bias to the downside.

A break there targets a retraction of 38.2 percent from 0.5506 to 0.7064 at 0.6462 rates. Nonetheless, a sustained break of 0.7064 level would restore the entire surge from 0.5506 level instead.

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EUR/GBP Is in a Downward Move, Targets Level 0.8900

Key Resistance Levels: 0.9200, 0.9400, 0.9600
Key Support Levels: 0.8800, 0.8600, 0.8400

EUR/GBP Price Long-term Trend: Bearish
The EUR/GBP pair is presently falling after retesting level 0.9000. The downtrend has been ongoing since June 29. The price has broken below the bullish trend line. This is an indication that the selling pressure may continue on the downside.


EUR/GBP – Daily Chart
Daily Chart Indicators Reading:
The pair is at level 48 of the Relative Strength index period 14. This implies that the market is in the downtrend zone and below the centerline 50. The 50-day SMA and 21-day SMA are sloping upward. It indicates the present upward move.


EUR/GBP Medium-term Trend: Bullish
On the 4-hour chart, the EUR/GBP pair has been on a downward move. The pair was resisted at level 0.9050 as the market dropped to level 0.8950. The price corrected upward to retest level 0.9000 twice before resuming the downward move. The downtrend is likely to continue.


EUR/GBP – 4 Hour Chart
4-hour Chart Indicators Reading
The 50-day and 21-day SMAs are sloping downward indicating the downtrend. The pair is below 20% range of the daily stochastic. It indicates that the market is approaching the oversold region. In the oversold region, buyers are likely to emerge to push prices upward.


General Outlook for EUR/GBP
The EUR/GBP pair has fallen and reached level 0.8960. The selling pressure is ongoing as price approaches the oversold region. The market may fall and reach a low of 0.8900.

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