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USD/CAD: technical analysis 15 October 2019, 12:43

USD/CAD: technical analysis 15 October 2019, 12:43 Scenario Timeframe Weekly Recommendation BUY STOP Entry Point 1.324...

Jul 11, 2019

Litecoin: technical analysis 11 July 2019, 10:16


Scenario
Timeframe Intraday
Recommendation SELL STOP
Entry Point 98.00
Take Profit 87.50, 75.00
Stop Loss 108.30
Key Levels 75.00, 87.50, 100.00, 112.50, 125.00, 137.50
Alternative scenario
Recommendation BUY STOP
Entry Point 114.00
Take Profit 125.00, 137.50
Stop Loss 105.00
Key Levels 75.00, 87.50, 100.00, 112.50, 125.00, 137.50
Current trend
This week, LTC quotes were corrected downwards and tested the level of 100.00 in the middle of the Murrey trading range. If the price consolidates below it, a continuation of the decline to the levels of 87.50 (Murrey [3/8]) and 75.00 (Murrey [2/8]) is likely. The key "bullish" level is 112.50 (Murrey [5/8]). Its breakout will give the prospect of returning to the middle line of Bollinger bands around ​​125.00 (Murrey [6/8]) and higher to the level of 137.50 (Murrey [7/8]). However, while this option of price movement looks less preferable since technical indicators confirm a decline. The Bollinger bands and Stochastic reversed downwards. The MACD histogram increases in the negative zone.
Support and resistance
Resistance levels: 112.50, 125.00, 137.50.
Support levels: 100.00, 87.50, 75.00.

Trading tips
Short positions can be opened after the price consolidates below the level of 100.00 with the targets at 87.50, 75.00 and stop loss 108.30.
Long positions can be opened above the level of 112.50 with the targets at 125.00, 137.50 and stop loss 105.00.
Implementation period: 3–4 days.

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