Tag: Technical Analysis

Company News – Tame the trend with our heatmap

Tame the trend with our heatmapDear customers!

This May is giving us not only nice weather, but also new opportunities for earning money in financial markets.

In this regard, we would like to remind you of the best tool for rapid market analysis – Forex Heatmap.

Let’s play with some examples of how you can use it as efficiently as possible.

On the map you can clearly see the following stable trends:

1. Turkish lira and Mexican peso are significantly losing against the US dollar. The indicator shows a clear inflation of these currencies since early May. You can see the trend and its the confirmation on the charts for yourself in the trading platforms. The population’s income have suffered, but at the same time it is a fighting chance to make some profits thanks to a steady trend.

2. Brent oil Is back in the saddle and shows a steady growth – the bulls are winning. The graphs in the tarding platforms clearly show the same trend for the second month in a row, and the global growth trend has formed in the middle of last year. Now is the right time to buy before there is a change in the trend!

3. Conclusions about the correct decision regarding EURUSD are quite obvious, just look at the indicator and check the situation on the charts in the trading platforms.

Tame the trend with our heatmap

Of course, the trend reflected in our Heatmap is not a 100% guarantee of success as the market often changes. Moreover, you need to carefully evaluate the load on the deposit, correctly calculate and set the stop-loss and take-profit.

However, we are sure: in order to take advantage of fluctuations in the market, it is enough to study the situation on the market with the help of our Heatmap and analyze our resources. Remember: trend is your friend! Reasonable trading in a volatile situation will definately be profitable but trading in the flat can permanently deprive you of the possible profits.

 

Technical crypto analysis based on breakout – we’re in sellers territory

XRP –

we're in sellers territory

Technical Observation

XRP is currently trading with an increasing bearish bias. So far, Ripple has successful gone below the three Simple Moving Averages 14, 52, 152. And as I said earlier, while the price is contained below these SMAs, then I expect a momentum to the lower side. I’m waiting for a clear break below $0.5500 to culminate into a possible bearish momentum towards $0.4100. As it is on the daily charts, only short positions can be recommended, however, should the price break above $0.8532, then this will be a good place to buy ripple towards $1.1568.

Trade Signal.

Only buy XRP above $0.8532

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Technical crypto analysis based on breakout – Breach below $670.71

ETH –

Breach below $670.71

Technical Observation

Ether is currently trading with an increasing bearish bias. Yesterday, Ether breached a major support line $670.71 and is still rallying below it. Unless the price again breaks above $670.71 with a big green candle, I expect a rally to the lower side with my first take profit along the 152 Simple Moving Average. If this SMA can be broken, then this will be a confirmation that the price will continue to the lower side with my next take profit being $348.90. On the other side, in case the price breaks above $670.71, then this will be a goo place to buy Ether towards $942.68.

Trade Signal.

Short ETH now towards $532.50

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Technical crypto analysis based on breakout – Buy BTC around $7,661.98

BTC –

Buy BTC around $7,661.98

Technical Observation

BTC is currently trading with an increasing bearish bias. On Tuesday, BTC lost almost 90 perfect the value it gained before the end of last week, currently the price is approaching a weekly support $7,661.98 and also last week’s lowest low. This is a potential reversal line and unless it is breached to the lower side with a big red candle, I remain optimistic that the price could bounce from it to the upper side. On its way upwards, the key lines to check for possible book profits include $9,445.84, $13,361.21. If these lines are b reached, then I expect surge towards $25,000.00 by the end of this year.

Trade Signal.

Buy BTC around $7,661.98 towards $13,361.71.

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Elliott waves crypto analysis – Wait for a buy above 0.6798

XRP –

Wait for a buy above 0.6798

Wave Analysis

During the previous trading day, ripple went a bit lower side than expected and is currently below a hourly support level 0.6798. This is a major level and as long as it holds the price below it, we expect a possible rally to the lower side. This downward rally should however be short term and may not go below the immediate supportive trend line. Thus, our recommendations is that, instead of going of short now, you could wait for another break above 0.6798 to confirm a possible rally upwards with our target still fixed at 0.9475.

Trade Recommendations:

Wait for a buy above 0.6798 towards 0.9475

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Company News – FreshForex offers huge Deposit Bonus!

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Forex Technical Analysis: Trend potential – Wait for a pullback to 110.14

USDJPY – Down

Technical observation

USD/JPY Broke above a resistance zone 107.68-107.31,it did not correct to the broken zone but instead it rose steadily towards a resistance line 110.14.Last week, price broke above 110.14 with a big green candle and is still above it rising towards the resistance line 114.28.I expect a correction of price to the just broken line for possible bullish momentum towards the resistance line 114.28 and a breakout above it for a further rise in price towards 121.13.I would advise you wait for a correction to 110.14 then buy USD around it with your take profit at 114.28 and stop loss around 108.22.Only long positions can be recommended.

Technical levels

Resistance levels

R1.111.49

R2.112.22

R3.114.1

Pivot

110.35

Support levels

S1.109.61

S2.108.47

S3.106.6

Trade signal

Wait for a pullback to 110.14 to buy USD with your take profit at 114.28 and stop loss around 108.22.

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Forex Technical Analysis: Trend potential – Wait for a correction to 1.3816-1.3696

GBPUSD – Flat

Technical observation

GBP/USD broke below a support zone 1.3816-1.3696 and is still pretty much below it.I expect a retracement of price to the zone and a rejection of it within it for bearish movements of price towards 1.3302 and a breakout below it for further bearish movements of price towards the lowest key line 1.2705. I would advise you wait for a correction to the zone the short GBP within it with your take profit at 1.3302 and stop loss around 1.4144.Continue short with GBP/USD after a breakout below 1.3302 with your ideal target at 1.2705.Long positions can only be recommended above the zone 1.3816-1.3696.

Technical levels

Resistance levels

R1.1.3569

R2.1.3668

R3.1.3825

Pivot

1.351

Support levels

S1.1.3411

S2.1.3352

S3.1.3194

Trade signal

Wait for a correction to 1.3816-1.3696 to short GBP/USD with your take profit at 1.3302 and stop loss around 1.4144.

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Forex Technical Analysis: Trend potential – Short EUR/USD withn1.2235-1.2147

EURUSD – Up

Short EUR/USD withn1.2235-1.2147

Technical observation

After breaking down below a support zone 1.2235-1.2147,EUR/USD is rallying down towards a support line 1.1443,I expect a pullback of price to the just broken zone followed by a rejection of it within the zone for bearish movements of price towards 1.1443 and a possible breakout below 1.1443 for a further decline in price towards 1.0803.Wait for a correction to the zone the short EUR within it with your take profit at 1.1443 and stop loss around 1.2513.Remain short with EUR after a breakout below 1.1443 with your ideal target at 1.0803.Long positions can only be recommended above 1.2235-1.2147.

Technical levels

Resistance levels

R1.1.1928

R2.1.2086

R3.1.2333

Pivot

1.1839

Support levels

S1.1.1682

S2.1.1592

S3.1.1345

Trade signal

Short EUR/USD withn1.2235-1.2147 with your take profit at 1.1443 and stop loss around 1.2513.

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Weekly analytics- Forex Technical Analysis: Trend potential – Wait for a correction to 890.56 to short Platinum

Brent weekly

Wait for a correction to 890.56 to short Platinum

Technical observation

On the weekly chart above, after breaking up above a resistance zone 62.35-60.83, Brent corrected to it twice as a support then rallied up towards a resistance line 80.16.Last week, it could not penetrate above it and so was rejected, short term traders can short Brent now form the resistance line with your take profit at 60.36, while long term traders can wait for a breakout above 80.16 and a correction to it to long Brent as the general trend for Brent on the chart above is upwards. In case price breaks below 62.35-60.83, wait for a correction to it before you short Brent with your ideal target at 45.33.

Trade signal

Wait for a breakout above 80.16 and a correction to it to buy Brent.

 

             Gold weekly

Wait for a correction to 890.56 to short Platinum

Technical observation

The general trend for Gold is downward, price has been retracing at a key resistance zone 1366.46-1351.22 several times for the past weeks, currently price is below the zone and I expect a correction to it and a rejection within it for possible bearish momentum towards 1203.98, In case Gold is not rejected and breaches clearly above the zone with a big green candle, wait for a pullback to it then long Gold with your ideal target at 1483.03.If you had already sold Gold, I would advise you remain in the trade, If you had not, remain flat and wait for either a correction to 1.366.46-1351.22 to sell gold or a breakout above it to buy Gold.

Trade signal

Remain flat.

 

                Platinum weekly

Wait for a correction to 890.56 to short Platinum

Technical observation

Just like Gold, Platinum has also been trading on a downward trend with several retracements at a resistance zone 1039.87-1023.40, Recently it had been rallying down towards a support line 890.56 and last week’s candle broke below it, right now platinum is below it and I expect a correction to the just broken line followed by a rejection of it from the line for possible bearish momentum towards778.13 and a possible breakout below it for a further decline in price towards 599.40.My advice, wait for a correction and a rejection form 890.56 then short Platinum from it with your take profit at 778.13 and  stop loss around 963.83.

Trade signal

Wait for a correction to 890.56 to short Platinum.

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