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Ethereum: general review 22 February 2018, 12:59

Ethereum: general review 22 February 2018, 12:59 Scenario Timeframe Weekly Recommendation SELL Entry Point 819.99 Ta...

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Feb 22, 2018

Ethereum: general review 22 February 2018, 12:59

 

Scenario
Timeframe Weekly
Recommendation SELL
Entry Point 819.99
Take Profit 750.00, 625.00
Stop Loss 860.00
Key Levels 500.00, 625.00, 750.00, 875.00, 1250.00, 1125.00, 1000.00
Alternative scenario
Recommendation BUY STOP
Entry Point 885.00
Take Profit 1000.00, 1125.00
Stop Loss 830.00
Key Levels 500.00, 625.00, 750.00, 875.00, 1250.00, 1125.00, 1000.00
Current trend
This week, Ether quotes decreased, and now the instrument is traded around 820.00. In the absence of serious fundamental factors, the decline is of a technical nature.
Important news include the intention of several projects on the Ethereum platform (Cosmos, OmiseGO, Golem, Maker, Global Brain, Raiden) to create a single Ethereum Community Fund to provide grants for solving the scalability problem. Also, the UN World Food Programme is actively testing the Ethereum blockchain for the implementation of targeted humanitarian assistance. The technology allows WFP to save significant funds on bank transfers and commissions.
The discussion continues on the future of the crypto-currency. While some representatives of financial institutions call for their use and even try to regulate the process of trade, others speak about them with disdain. On Wednesday, BoE head Mark Carney noted that Bitcoin showed its inconsistency: compared with traditional money, it is not preserving capital and is not used as a means of exchange.
Support and resistance
Technically, the price went out the Murrey trade corridor, consolidating below the level of 875.00 (Murrey [3/8], the middle line of Bollinger Bands), and has the potential for further reduction to the levels of 750.00 (Murrey [2/8]) and 625.00 (Murrey [1 /8]). However, Stochastic entering into the oversold zone does not exclude the possibility of a reverse and a price increase to 1000.00 (Murrey [4/8], the upper boundary of the descending channel) and 1125.00 (Murrey [5/8]) marks.
Support levels: 750.00, 625.00, 500.00.
Resistance levels: 875.00, 1250.00, 1125.00, 1000.00.

Trading tips
Short positions may be opened at the current price with targets at 750.00, 625.00 and stop-loss at 860.00. Long positions may be opened in case of breakout the level of 875.00, and targets will be 1000.00 and 1125.00. Stop-loss may be placed at 830.00.

YM: general analysis 22 February 2018, 12:45

 

Scenario
Timeframe Intraday
Recommendation SELL STOP
Entry Point 24501.0
Take Profit 24218.8
Stop Loss 24920.0
Key Levels 24218.8, 24609.4, 25000.0, 25262.6
Current trend
Dow Jones is trading around the support level [7/8] Murray or 24609.4, after the breakdown the target will become the level of 24218.8.
The prices are under pressure of the growth of the bonds’ yield after yesterday’s publication of FOMC Minutes, which has reached the recent years’ maximum level of 2.95%. The members confirmed that in the current economic situations the regulator would continue to increase the interest rate gradually. In 2018, the economy and building market are expected to grow moderately. The investors considered it positive for USD, but it affects the stocks market negatively, so the decrease will develop further.
Today the traders are focused on HP and Hewlett Packard reports releases.
Support and resistance
Stochastic is at the level of 11 points and reflects the possibility of a correction.
Resistance levels: 25000.0, 25262.6.
Support levels: 24609.4, 24218.8.

Trading tips
Short positions can be opened below the level of 24502.1 with the target at 24218.8 and stop loss at 24920.0.

XAU/USD: drop to February lows 22 February 2018, 12:31

 

Scenario
Timeframe Weekly
Recommendation SELL
Entry Point 1323.50
Take Profit 1307.00
Stop Loss 1329.50
Key Levels 1298.00, 1300.00, 1307.00, 1309.00, 1313.50, 1316.15, 1326.50, 1330.50, 1335.0, 1345.85, 1357.00, 1361.40, 1366.00
Current trend
In early February, the price of gold, which investors perceive as a "shelter asset", was growing rapidly in view of a sharp decline of USD.
In the middle of the month, the price reached 1361.40 mark, and the market was in full confidence that it would reach the local maximum of the end of January (1366.00). However, that didn't happen: the pair first corrected downwards, and then significantly sank in view of the growth of investment interest to USD. Additional pressure on the instrument was provided by the sales of precious metal: due to the price drop, investors began to close long positions and open short ones, counting on a prolonged drop in the asset. As a result, over the past five trading days, the price of gold dropped by more than USD 44 and continues to decline.
Today, the economic calendar is almost empty, and the instrument will be influenced by trade sentiment, though the likelihood of lateral consolidation formation is high.
Support and resistance
In the short term, gold will continue to decline within the current narrow and steep channel with a target level of 1307.00, which is the local low of early February. In the future, an upward correction is expected, and after it - continuation of the decline in the asset. In the medium term, the price for an ounce may fall below the USD 1,300.
Technical indicators confirm the fall outlook: MACD indicates growth of volumes of short positions, and Bollinger Bands have revered downwards.
Support levels: 1316.15, 1313.50, 1309.00, 1307.00, 1300.00, 1298.00.
Resistance levels: 1326.50, 1330.50, 1335.0, 1345.85, 1357.00, 1361.40, 1366.00.

Trading tips
In this situation, short positions may be opened from the current level with the target at 1307.00 and a short stop-loss at 1329.50.

Cisco Systems Inc. (CSCO/NASD): general review 22 February 2018, 11:35

 

Scenario
Timeframe Intraday
Recommendation BUY STOP
Entry Point 45.10
Take Profit 46.50, 48.00, 49.00
Stop Loss 43.50
Key Levels 39.00, 41.00, 43.00, 45.00
Alternative scenario
Recommendation SELL STOP
Entry Point 42.90
Take Profit 41.00, 39.00
Stop Loss 44.50
Key Levels 39.00, 41.00, 43.00, 45.00
Current trend
Last week, on February 14, Cisco reported for Q2 2018. The issuer's quotes rose to a 17-year high against the background of a strong forecast for Q3 2018 above expectations of The Wall Street.
As a result of the last quarter, revenue increased by 2.7% (YoY) to USD 11.9 billion, unaudited earnings per share increased by 10.5% (YoY) to USD 0.63. In addition, the company's management announced a 14% increase in quarterly dividends to USD 0.33 per share, as well as an additional increase in the share buyback program of USD 25 billion.
During the previous week Cisco shares grew by 5.04%. S&P500 index went down by 1.58% during the same period.
Support and resistance
At the moment, #CSCO quotes are in sideways movement after a rather long rally. Technical correction is possible in the near future.
Indicators show the strength of the buyers: the price has consolidated above MA(50) and MA(200), and MACD is in the positive zone. Still, positions may be opened from key levels.
Comparing company's multiplier with its competitors, we can say that #CSCO shares are neutral.
Support levels: 43.00, 41.00, 39.00.
Resistance levels: 45.00.

Trading tips
If the price consolidates above the resistance level of 45.00, one may consider buying #CSCO. Potential profits should be locked in by orders at 46.50, 48.00 and 49.00. Stop-loss will be placed at the level of 43.50.
If the price consolidates below the "mirror" level of 43.00, #CSCO may continue to correct. The moving potential is aimed at 41.00-39.00. Stop-loss should be placed at 44.50.
Trading tips will be relevant for 3 days.

Tesla Inc. (TSLA/NASD): general analysis 22 February 2018, 11:17

 

Scenario
Timeframe Intraday
Recommendation BUY STOP
Entry Point 340.10
Take Profit 350.00, 360.00, 370.00
Stop Loss 330.00
Key Levels 302.00, 312.00, 325.00, 340.00, 360.00, 370.00
Alternative scenario
Recommendation SELL STOP
Entry Point 324.90
Take Profit 310.00, 300.00
Stop Loss 335.00
Key Levels 302.00, 312.00, 325.00, 340.00, 360.00, 370.00
Current trend
Last week Tesla informed a number of future owners of Model 3, that they might not receive ordered electrocars until 2019. Considering upcoming federal tax deductions, a part of the buyers will look at alternatives, including new Chevrolet Bolt by General Motors.
During the last week, Tesla stocks grew by 2.98% against the decrease of S&P 500 index by 1.58%.
Support and resistance
The technical picture is mixed. The price is in consolidation now. Key support and resistance levels are 325.00 and 340.00 correspondingly. Indicators do not give a clear signal: МА (50) has crossed МА (200); MACD histogram is in the positive zone. It is better to open the positions from the key levels.
The comparative analysis of the indicators of the company and its competitors suggests the neutrality of its share prices.
Resistance levels: 340.00, 360.00, 370.00.
Support levels: 325.00, 312.00, 302.00.

Trading tips
Long positions can be opened after the price is set above the level of 340.00. Closing profitable positions is possible at the levels of 350.00, 360.00 and 370.00. Stop loss is 330.00.
Short positions can be opened after the price is set below the level of 325.00 with the targets at 310.00–300.00. Stop loss is 335.00.
Implementation period: 3 days.

XAG/USD: technical analysis 22 February 2018, 10:27

 

Scenario
Timeframe Weekly
Recommendation BUY LIMIT
Entry Point 16.15
Take Profit 16.27, 16.50
Stop Loss 16.02
Key Levels 15.60, 16.15, 16.27, 16.50, 16.70, 16.80
Alternative scenario
Recommendation SELL STOP
Entry Point 16.00
Take Profit 15.60
Stop Loss 16.15
Key Levels 15.60, 16.15, 16.27, 16.50, 16.70, 16.80
XAG/USD, D1
On the daily chart, the instrument is trading in the lower Bollinger band. The price remains below its moving averages that are directed down. The RSI is about to test its most recent support. The Composite is testing from above its longer MA.

XAG/USD, H4
On the 4-hour chart, the instrument is trading in the lower Bollinger band. The price remains below its moving averages that are directed down. The RSI is trying to turn up to retest its longer MA. The Composite is breaking down its longer MA.

Key levels
Support levels: 16.27 (local lows), 16.15 (November 2016 lows), 15.60 (December 2017 lows).
Resistance levels: 16.50 (local highs), 16.70 (January lows), 16.80 (March 2017 lows).
Trading tips
The price is approaching a strong support in the region of 16.15. There is a chance of an upward rebound, while its breakdown would allow the fall to continue.
Long positions can be opened after the price rebound from the level of 16.15 with targets at 16.27, 16.50 and stop-loss at 16.02.
Short positions can be opened from the level of 16.00 with the target at 15.60 and stop-loss at 16.15.

NZD/USD: general analysis 22 February 2018, 09:58

 

Scenario
Timeframe Intraday
Recommendation SELL STOP
Entry Point 0.7300
Take Profit 0.7250
Stop Loss 0.7330
Key Levels 0.7200, 0.7230, 0.7250, 0.7280, 0.7305, 0.7330, 0.7360, 0.7380, 0.7400
Alternative scenario
Recommendation BUY STOP
Entry Point 0.7370
Take Profit 0.7420
Stop Loss 0.7340
Key Levels 0.7200, 0.7230, 0.7250, 0.7280, 0.7305, 0.7330, 0.7360, 0.7380, 0.7400
Current trend
Yesterday in the evening after FOMC Minutes release, the volatility on the market rapidly grew. USD strengthened against all the main currencies due to the growth of 10-year government bonds’ yield to 2.95%.
NZD is weakening against US currency, but the pair is quite stable – the instrument is trading above the level of 0.7300, despite the slowing of the growth of Credit Card Spending index, which reached 4.6% against 6.3% in the last month.
Today the traders are focused on Initial Jobless Claims release in the USA at 15:30 (GMT+2) and New Zealand Retail Sales publication at 23:45 (GMT+2).
Support and resistance
On the 4-hour chart, the pair is going down along the lower border of Bollinger Bands. MACD histogram is in the negative zone, its volumes are gradually increasing, and the signal line crosses the zero line and the histogram’s body downwards, giving a signal to open short positions.
Resistance levels 0.7330, 0.7360, 0.7380, 0.7400.
Support levels: 0.7305, 0.7280, 0.7250, 0.7230, 0.7200.

Trading tips
Short positions can be opened at the level of 0.7300 with the target at 0.7250 and stop loss 0.7330. Implementation period: 1–3 days.
Long positions can be opened at the level of 0.7370 with the target at 0.7420 and stop loss 0.7340. Implementation period: 3–5 days.

USD/CAD: the dollar is strengthening 22 February 2018, 09:55

 

Scenario
Timeframe Intraday
Recommendation BUY STOP
Entry Point 1.2710
Take Profit 1.2769, 1.2800
Stop Loss 1.2650
Key Levels 1.2500, 1.2566, 1.2621, 1.2647, 1.2704, 1.2735, 1.2769
Alternative scenario
Recommendation SELL STOP
Entry Point 1.2640
Take Profit 1.2550, 1.2500
Stop Loss 1.2700
Key Levels 1.2500, 1.2566, 1.2621, 1.2647, 1.2704, 1.2735, 1.2769
Current trend
USD showed steady growth against CAD. Moderate support for USD was provided by strong data on the dynamics of business activity in February.
According to preliminary estimates from Markit, in February the index of business activity in the services sector grew from 53.3 to 55.9 points.
The focus of investors is on December statistics on retail sales in Canada, which is due at 15:30 (GMT+2). Experts forecast that the former growth rates will remain at 0.2% MoM, but sales without cars may fall sharply from +1.6% MoM to +0.3% MoM.
Support and resistance
Bollinger Bands in D1 chart demonstrate stable growth. The price range is widening but does not conform to the development of the "bullish" trend yet. In this regard, it is worth looking into the possibility of correctional dynamics at the end of the current trading week.
MACD indicator is growing preserving a moderate buy signal (the histogram is above the signal line). There is an opportunity to maintain the existing long positions in the short term, whereas for the opening of new transactions it is better to wait for the appearance of additional signals.
Stochastic maintains a confident upward trend but has already approached its maximum marks, indicating overbought USD and signaling in favor of development of corrective decline.
Resistance levels: 1.2704, 1.2735, 1.2769.
Support levels: 1.2647, 1.2621, 1.2566, 1.2500.


Trading tips
To open long positions one can rely on the breakout of the level of 1.2704, while maintaining "bullish" signals from technical indicators. Take-profit – 1.2769 or 1.2800. Stop loss – 1.2650. Implementation period: 2 days.
The rebound from the level of 1.2704, as a resistance, followed by breakdown of 1.2647, may become a signal to start correctional sales with targets at 1.2550 or 1.2500. Stop-loss — 1.2700. Implementation period: 2-3 days.

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