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Bitcoin: technical analysis 21 May 2018, 11:31

Bitcoin: technical analysis 21 May 2018, 11:31 Scenario Timeframe Intraday Recommendation BUY STOP Entry Point 8600.00...

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May 21, 2018

Bitcoin: technical analysis 21 May 2018, 11:31

 

Scenario
Timeframe Intraday
Recommendation BUY STOP
Entry Point 8600.00
Take Profit 8750.00, 8906.25
Stop Loss 8500.00
Key Levels 8125.00, 8281.25, 8437.50, 8593.75, 8750.00, 8906.25
Alternative scenario
Recommendation SELL STOP
Entry Point 8400.00
Take Profit 8281.25, 8125.00
Stop Loss 8531.00
Key Levels 8125.00, 8281.25, 8437.50, 8593.75, 8750.00, 8906.25
Current trend
Bitcoin quotes show positive dynamics for three consecutive trading sessions.
Bitcoin still can not gain a foothold above a strong resistance level in the area of 8593.75 mark (Murray [3/8]). After the re-test of this level, the course can reverse and the formation of a downward correction to the level of 8281.25 (Murray [1/8]), which also coincides with the midline of Bollinger Bands, is possible. Breakout and consolidation of the price above the level of 8593.75 will open the prospect of growth to the area of 8906.25 (Murray [5/8])–9062.50 (Murray [6/8]).
Technical indicators mainly keep the signal for purchase, while the possibility of developing a downward correction is not excluded. MACD histogram is growing in the positive zone. Bollinger Bands are directed upwards. Stochastic left the oversold zone and is directed downwards, indicating the development of downward correction.
Support and resistance
Support levels: 8437.50, 8281.25, 8125.00.
Resistance levels: 8593.75, 8750.00, 8906.25.

Trading tips
Buy positions may be opened above the level of 8593.75 with targets at 8750.00–8906.25 and stop-loss at 8500.00.
Sell positions may be opened below the level of 8437.50 with targets at 8281.25–8125.00 and stop-loss at 8531.00.

USD/CHF: general analysis 21 May 2018, 11:26

 

Scenario
Timeframe Intraday
Recommendation BUY STOP
Entry Point 1.0035
Take Profit 1.0095
Stop Loss 0.9990
Key Levels 0.9850, 0.9900, 0.9943, 0.9961, 0.9971, 0.9983, 1.0000 1.0025, 1.0040, 1.0058, 1.0096, 1.0125
Alternative scenario
Recommendation SELL STOP
Entry Point 0.9955
Take Profit 0.9870
Stop Loss 0.9985
Key Levels 0.9850, 0.9900, 0.9943, 0.9961, 0.9971, 0.9983, 1.0000 1.0025, 1.0040, 1.0058, 1.0096, 1.0125
Current trend
Last week, the pair was trading within the narrow channel around the strong psychological level of 1.0000. On Friday, the instrument lost around 50 points after the speeches of Fed’s officials Lael Brainard and Robert Kaplan. Today the pair is growing from the support level of 0.9960 and, it has restored the most part of the loss.
At the end of the last week, the questions of US-China interactions were negotiated. The parties managed to decrease the trade war possibility, and China agreed to decrease trade deficit, increasing the sales of US goods. However, the uncertainty upon American monetary policy is growing. A number of large financiers claimed that the monetary policy should be more restrained.
Today, there is a holiday in Switzerland. In the USA, Chicago Fed National Activity Index will be released at 14:30 (GMT+2). At 18:15, 20:05, 23:30 (GMT+2) the speeches of Fed’s members Raphael Bostic, Patrick Harker, and Neel Kashkari are expected.
Support and resistance
On the 4-hour chart, the instrument began to grow from the support level of 0.9960. Bollinger Bands are pointed horizontally; the price range stays restricted and stable, reflecting the further correction. The key resistance is 1.0030, the breakout of which will form a buy signal. MACD histogram is in the correction in the neutral zone, giving no signal. Stochastic is ready to enter the oversold area, the sell signal can form today.
Resistance levels: 1.0000 1.0025, 1.0040, 1.0058, 1.0096, 1.0125.
Support levels: 0.9850, 0.9900, 0.9943, 0.9961, 0.9971, 0.9983.

Trading tips
Long positions can be opened above the level of 1.0030 with the target at 1.0095 and stop loss 0.9990.
Short positions can be opened below the level of 0.9960 with the target at 0.9870 and stop loss 0.9985.
Implementation period: 1–3 days.

SX5E: technical analysis 21 May 2018, 11:22

 

Scenario
Timeframe Weekly
Recommendation SELL STOP
Entry Point 3545.0
Take Profit 3521.0, 3502.0
Stop Loss 3562.0
Key Levels 3502.0, 3521.0, 3545.0, 3592.0, 3623.0, 3639.0
Alternative scenario
Recommendation BUY STOP
Entry Point 3592.0
Take Profit 3623.0, 3639.0
Stop Loss 3578.0
Key Levels 3502.0, 3521.0, 3545.0, 3592.0, 3623.0, 3639.0
SX5E, D1
On the daily chart, the instrument is trading in the upper Bollinger band. The price remains above its moving averages that start turning up. The RSI is forming a Bearish divergence with the price, having failed the border of the overbought zone. The Composite is testing from below its longer MA.

SX5E, H4
On the 4-hour chart, the instrument is trading in the upper Bollinger band. The price remains above its moving averages that are directed up. The RSI is about to retest the border of the overbought zone. The Composite is about to test from below its longer MA.

Key levels
Support levels: 3545.0 (local lows), 3521.0 (April highs), 3502.0 (local lows).
Resistance levels: 3592.0 (local highs), 3623.0 (local highs), 3639.0 (local highs).
Trading tips
The price keeps testing from below its previous ascending trendline. There is a chance of a downward correction, while a breakout of local highs would allow the growth to continue.
Short positions can be opened from the level of 3545.0 with targets at 3521.0, 3502.0 and stop-loss at 3562.0. Validity – 3-5 days.
Long positions can be opened from the level of 3592.0 with targets at 3623.0, 3639.0 and stop-loss at 3578.0. Validity – 3-5 days.

Brent Crude Oil: general review 21 May 2018, 11:10

 

Scenario
Timeframe Intraday
Recommendation SELL STOP
Entry Point 78.05
Take Profit 76.56
Stop Loss 78.60
Key Levels 75.00, 76.56, 78.12, 79.68, 81.25, 82.00
Alternative scenario
Recommendation BUY STOP
Entry Point 79.75
Take Profit 81.25, 82.00
Stop Loss 79.20
Key Levels 75.00, 76.56, 78.12, 79.68, 81.25, 82.00
Current trend
Oil quotes declined after the publication of the Baker Hughes report on Friday, according to which the number of active platforms in the US over the week remained unchanged at 844 units.
On Monday morning, the rate of Brent slightly adjusted upward amid the refusal of the US and China to continue the so-called trade war. In the absence of significant fundamental factors, today the price is consolidated in the mid-line of Bollinger Bands (78.90).
One of the main events of this week for investors will be a meeting of the Saudi Arabian and Russian energy ministers at the international economic forum in St. Petersburg. It is expected that the meeting participants will discuss the problems of the oil market associated with the US withdrawal from the nuclear deal with Iran.
Support and resistance
Technical indicators don't provide a clear signal. The volumes of MACD histogram are reducing in the positive zone indicating growing influence of the sellers. Stochastic lines are directed upwards. Bollinger Bands are directed sidewards, showing that the market is relatively calm and the rate movement is sideways.
Support levels: 78.12, 76.56, 75.00.
Resistance levels: 79.68, 81.25, 82.00.

Trading tips
Sell positions may be opened below the level of 78.12 with target at 76.56 and stop-loss at 78.60.
Buy positions may be opened above the level of 79.68 with targets at 81.25–82.00 and stop-loss at 79.20.

Starbucks Corp. (SBUX/NASD): general analysis 21 May 2018, 10:51

 

Scenario
Timeframe Intraday
Recommendation SELL STOP
Entry Point 56.40
Take Profit 55.50, 54.50, 54.00
Stop Loss 57.50
Key Levels 54.00, 55.50, 56.50, 57.50, 59.00, 60.00
Alternative scenario
Recommendation BUY STOP
Entry Point 57.55
Take Profit 59.00, 60.00
Stop Loss 56.50
Key Levels 54.00, 55.50, 56.50, 57.50, 59.00, 60.00
Current trend
Starbucks reported the new expansion to the Chinese market, planning to increase the number of outlets from existing 3300 to 6000 by the 2022 year. Every year the company will open 600 new coffee shops in the country. It is also expanding its collaboration with Alibaba Group, increasing the list of goods and services for internet sales. In addition, next month Starbucks will release the new line of old tea and coffee in China.
Earlier in May, Starbucks sold its rights to sell bagged tea and coffee in Switzerland to the food industry giant Nestle for 7.15 billion USD.
During the last week, Starbucks decreased by 0.19% against the growth of S&P 500 index by 0.51%.
Support and resistance
The stocks are moving sideways. The technical picture is mixed. The instrument is testing the local support and resistance levels of 56.50 and 57.50 correspondingly. The correction can develop further. The indicators’ signals are mixed: the price consolidated below МА (50) and МА (200); MACD began to grow. It is better to open the positions from the key levels.
The comparative analysis of the indicators of the company and its competitors suggests that its shares are underpriced.
Resistance levels: 57.50, 59.00, 60.00.
Support levels: 56.50, 55.50, 54.00.

Trading tips
Short positions can be opened after the price is set below the level of 56.50. The closing of the profitable positions is possible at the levels of 55.50, 54.50 and 54.00. Stop loss is 57.50.
Long positions can be opened after the price is set above the level of 57.50 with the targets at 59.00–60.00. Stop loss is 56.50.
Implementation period: 3 days.

Johnson & Johnson (JNJ/NYSE): general review 21 May 2018, 10:44

 

Scenario
Timeframe Intraday
Recommendation BUY STOP
Entry Point 125.55
Take Profit 127.00, 128.50, 130.00
Stop Loss 124.00
Key Levels 121.00, 123.00, 125.50, 129.00, 132.00
Alternative scenario
Recommendation SELL STOP
Entry Point 122.90
Take Profit 120.00, 119.00
Stop Loss 124.50
Key Levels 121.00, 123.00, 125.50, 129.00, 132.00
Current trend
Johnson & Johnson is relaunching the Johnson's Baby product line. Since 2011, sales of childcare products have fallen by 20% to USD 1.9 billion in 2017. At the same time, the revenue of this segment in the US in Q1 2018 decreased by 14% compared to last year's figure. New products are designed with a bias for the use of natural ingredients.
During the previous week Johnson & Johnson shares decreased by 2.36%. S&P 500 index went up by 0.51% during the same period.
Support and resistance
There is a classic reversal formation in the issuer  — divergence of price and MACD indicator, for quite a long time. Technical correction is possible in the near future. At the moment, the #JNJ shares are consolidating. Indicators don't give a clear signal: the price consolidated below 50(MA) and 200(MA), and MACD histogram is close to the zero mark. Positions are to be opened from key levels.
Comparing company's multiplier with its competitors in the industry, we can say that #JNJ shares are neutral.
Support levels: 123.00, 121.00.
Resistance levels: 125.50, 129.00, 132.00.

Trading tips
If the price consolidates below the resistance level of 125.50, corrective movement is expected. Potential profits should be locked in by orders at 127.00, 128.50 and 130.00. Stop-loss will be placed at the level of 124.00.
If the price consolidates below the support level of 123.00, one may consider selling #JNJ. The movement potential is aimed in the area of 120.00–119.00. Stop-loss should be placed at 124.50.
Implementation period: 3 days.

XAG/USD: silver prices are consolidating 21 May 2018, 10:27

 

Scenario
Timeframe Intraday
Recommendation BUY STOP
Entry Point 16.35, 16.45
Take Profit 16.55, 16.60
Stop Loss 16.30, 16.24
Key Levels 16.00, 16.09, 16.20, 16.33, 16.44, 16.51, 16.66
Alternative scenario
Recommendation SELL STOP
Entry Point 16.17
Take Profit 16.00
Stop Loss 16.33
Key Levels 16.00, 16.09, 16.20, 16.33, 16.44, 16.51, 16.66
Current trend
On Monday, silver prices are falling within the correction after a moderate growth since the middle of the last week. The investors are waiting for the new drivers to appear.
The further growth of the instrument is prevented by quite steady positions of the US currency, which is strongly growing against its main competitors. On the other hand, silver is supported by the development of the political and business crisis in Italy, which, according to experts, can affect the market more than the Greece crisis did.
Today the traders are focused on Chicago Fed National Activity Index release at 14:30 (GMT+2), FOMC Member Bostic speech, and FOMC Member Bostic speech.
Support and resistance
On the daily chart, Bollinger Bands are moving flat. The price range is narrowing, reflecting the mixed trade character of the recent days. MACD is slightly going down; keeping a weak sell signal (the histogram is below the signal line). Stochastic is still reversing upwards and does not almost react to today’s downward dynamic appearance.
It is better to wait until stronger signals of the further upward dynamic development in the short or very short term.
Resistance levels: 16.33, 16.44, 16.51, 16.66.
Support levels: 16.20, 16.09, 16.00.


Trading tips
Long positions can be opened after the breakout of the levels 16.33–16.40 with the target at 16.55 or 16.60 and stop loss 16.30–16.24.
Short positions can be opened after the breakout of the level 16.20 downwards with the target at 16.00 and stop loss 16.33.
Implementation period: 2–3 days.

EUR/USD: the euro is declining 21 May 2018, 09:45

 

Scenario
Timeframe Intraday
Recommendation BUY STOP
Entry Point 1.1810
Take Profit 1.1900, 1.1945
Stop Loss 1.1750, 1.1740
Key Levels 1.1688, 1.1711, 1.1741, 1.1800, 1.1860, 1.1900, 1.1945
Alternative scenario
Recommendation SELL
Entry Point 1.1733
Take Profit 1.1688, 1.1650
Stop Loss 1.1800
Key Levels 1.1688, 1.1711, 1.1741, 1.1800, 1.1860, 1.1900, 1.1945
Current trend
EUR continues to decline against USD, updating local lows of December 18, 2017.
The data on the EU trade balance released on Friday turned out to be positive: its surplus rose from 21.0 to 21.2 billion euros. However, much more pressure on the single currency was provided by news from Italy. Representatives of "Five Star" and "League" political movements, which yesterday announced the formation of a coalition government, published its program. It runs counter to the current EU policy and calls for a revision of the budget rules and canceling of sanctions against Russia. Also, the new government proposes to abandon the pension reform, which was supposed to raise the retirement age, and demand that the EU countries write off part of the national debt.
Today, the pair is trading downwards but the activity is moderate as most European markets are closed due to national holidays. Investors will focus on EU financial stability review which is due at 10:00 (GMT+2).
Support and resistance
Bollinger Bands in D1 chart are directed downwards. The price range is expanding but it’s not wide enough for "bearish" trend.
MACD is going down keeping a weak sell signal (located below the signal line).
Stochastic is close to its minimum levels, which indicates overbought EUR in the short term.
A correction can start in the short term at the beginning of this trading week.
Resistance levels: 1.1800, 1.1860, 1.1900, 1.1945.
Support levels: 1.1741, 1.1711, 1.1688.


Trading tips
Long positions may be opened if the instrument rebounds from the level of 1.1741 followed by the breakout of 1.1800 mark. Take-profit — 1.1900–1.1945. Stop-loss — 1.1750–1.1740.
A breakdown of the level of 1.1741 may be a signal to further sales with targets at 1.1688 or 1.1650 marks. Stop-loss — 1.1800.
Implementation period: 2-3 days.

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