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We are sharing a very reasonable trade opportunity - ADAUSDT
1- Positive trend intact with price just where we like it
2- Solid Risk-to-Reward ratio (~9% to lose, ~55% to win) :)
3- Selling interest declining as suggested by Candle formations and Volume bars
4- Patience is key
Closing above 20sma on thursday, GBPJPY managed to kiss daily kijunsen, as that was the exact high on Friday. While Yen will be sold due to risk on. GBPJPY shall manage strong bounce. Sell trend is weakening as ADX fell towards 33 & shall fall further as markets open.
While risk on will prevail on weekly open after G20, CHF & JPY will be offered by traders due to decreasing demand of safe haven for the short time. That will help GBPCHF to rally which has very bullish technical structure. RSI is rising and selling momentum is waning. Expect 1.25 & 1.26 easy targets in coming days.
After dovish fed, CHF has been the main beneficiary, USD/CHF tumbled 4 days in a row, pushing CHF high against all majors. GBP/CHF touches key horizontal support with bullish divergence on daily chart. Need to see if it forms tweezer bottoms on daily chart. Seems to rally ahead to aim daily 5, 10 and 20sma respectively.
In the past, we have posted most charts on BNB against USDT and BTC.
Now is the time to take our LONG TERM view on BNB and compare it with the biggest ALT, that is ETH.
In 2017, ETH saw price hike of almost 2000% from the level marked, actual hike was much more as it started rallying from 13 USD.
Why do we draw this comparison? A detailed note will follow on how...
Thursday EIA inventory report showed that inventories rose by 102 bcf. That is eleventh consecutive week that inventories are above their 5 year average. That pushed prices down to test previous support and making double bottom structure. Chart structure is good for bounce and signalling some gains for long positions.
Taking support at daily kijunsen which coincide with 50% retracement of current rally, you would never like to miss a buy. In a bull run RSI at 50 needs to give support and it almost kissed that level. Re buying here can provide quick profits towards 100 and recent high. Fundamentally, Brazilian Real rallied big after we spotted bottom against USD at 4.10 . Coffee...
Eyebrows are raising across the Market as Huawei reportedly approached Aptoide (The developers of Appcoins) for application store integration in their new os Hongmeng after the big Google ordeal. About Aptoide, its an alternative marketplace for mobile applications which runs on the Android operating system. In Aptoide, unlike the default Google Play Store, there...
While USD/BRL short term indicators giving clear signal of correction to downside, Coffee touches its horizontal support. Trading at dirt cheap price and taking support, price seems to explode upside for quick trade opportunity. Brazilian real seems to get strength after falling as low as 4.12 against USD yesterday, which will push coffee prices up. Technically...
Risk-off prevails as trade war intensifies. Stocks are falling and Yen demand is high. USD/JPY corrected upward early morning and touched its daily Cloud resistance to resume fall. Pair can fall towards 109 as long as it is below 110.30 area.