In a Lackluster Momentum, GBPJPY Trends Within the Prior Day’s Range

GBPJPY Price Analysis – November 13

GBPJPY is trending within the prior day’s range after its unable to build on its gains recent gains as the sellers tried to take advantage and may end the day below its opening price but in a lackluster momentum.

Key Levels

Resistance Levels: 148.66, 146.57, 141.50

Support Levels: 135.49, 130.44, 126.54

GBPJPY Long term Trend: Bullish

In the daily picture, the consolidating structure from the level at 126.54 (low) remains in a formative stage with the advance from the level at 130.44 as the second stage. However, a further advance may be recorded back to the level at 146.57/148.66 resistance.

Meanwhile, for the current scenario, solid resistance from here expects to restrain the upward advance. Although, this may stay as the favored scenario for as long as the level at 135.45 resistance turned support remains.

GBPJPY Short term Trend: Ranging

On the flip side of the 4-hour time frame, the intraday bias of the FX pair stays neutral as the consolidation from the level at 141.50 is extending. Whereas a deeper plunge here may not be out of consideration.

Nevertheless, the downward momentum may be contained above the level at 135.49 resistance turned support to bring about another bounce upside where the break of the level at 141.50 may reactivate the advance from the level at 126.54 towards the 148.66 key resistance.

Instrument: GBPJPY
Order: Buy
Entry price: 135.49
Stop: 130.44
Target: 146.57

Note: Learn2Trade.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

Ethereum Continues Its Consolidation as the Bears and Bulls Reach Equilibrium

Key Resistance levels: $220, $240, $260
Key Support Levels: $160, $140,$120

ETH/USD Long-term Trend: Ranging
Ethereum had been trading in a sideways trend since August. In August, the market fell to a low at $170 and continued its fluctuations. The coin is fluctuating between the levels of $160 and $200. Neither the bulls nor the bears have been able to break the range-bound levels. Presently, the bulls have been having an upper hand as the price made unsuccessful attempts to break the upper price range.

On October 9, the bulls made a close attempt at the upper price range but were resisted. The market dropped to a low of $160. The bulls came back to the resistance line to retest the $200 price level. However, if the bulls succeed in breaking the resistance line, ETH will reach a high of $220 price level. Nevertheless, if the resistance line and the support line remain unbroken, Ethereum will continue its fluctuations.

ETHUSD-Daily Chart

Daily Chart Indicators Reading:
The pair has broken the downtrend line which means that the coin is out of the bearish trend. The 21-day and the 50-day SMAs are trending horizontally meaning that the coin is in a range-bound movement. Ethereum will rise again if the resistance line is broken and the price is sustained above it. However, the price had a false breakout in September which resulted in the price bearish move.

ETH/USD Medium-term bias: Bullish
On the 4-hour chart, the market is fluctuating between the levels of $160 and $190. In the last three months, the Ethereum price level had been stable. A range-bound trader can trade the resistance line and the support line by placing pending orders. In the upper price range, you can place a sell limit. Similarly, at the support line, you can place a buy limit. Your buy limit should have a target of $190. While your sell limit should have a target if $160.

ETHUSD-4-Hour Chart

4-hour Chart Indicators Reading
Ethereum is above the centerline 50 of the Relative Strength Index level 53 which indicates that ETH tends to rise. The moving averages are fluctuating according to the price bars indicating a sideways move.

General Outlook for ETH
The ETH/USD pair will continue its sideways move until the resistance and support lines are broken. The pair will rise since the bulls have broken the downtrend line. The coin should have buying powers at the current market price level. The market has been relatively stable in the last three months.

ETH Trade Signal
Instrument: ETHUSD
Order: Sell Limit
Entry price: $197
Stop: $210
Target: $160

Breaking Downwards, USDCHF Records Fresh Low Session

USDCHF Price Analysis – November 12

USDCHF is posting fresh session lows in today’s trading as sellers took control of the market while breaking downwards past the moving average 5 heading towards moving average 13. As it is, in the event of a further break downwards and the price momentum continues, it will open the market for CHF bids.

Key Levels

Resistance Levels: 1.0231, 1.0126, 1.0027

Support Levels: 0.9911, 0.9851, 0.9659

USDCHF Long term Trend: Bullish

Technically for the current session, the USDCHF plunged back under both resistance horizontal levels on the level at 0.9964 and 0.9929 respectively. However, in the medium term, the USDCHF outlook stays neutral as it remains within a range of the level at 0.9659/1.0231.

Meanwhile, the decisive break of the level at 1.0231 is required to display the resumption of an uptrend. Nevertheless, more consolidation and ranging may be recorded with the risk of another plunge. The FX pair’s trend is short-term downtrend, although likely a correction, as the long-term trends remain bullish.

USDCHF Short term Trend: Ranging

On the 4-hour time frame, it’s intraday bias stays neutral initially. A likely advance is expected as long as the level at 0.9911 minor support is intact. The ranging from the level at 1.0126 may have completed on the level at 0.9851 as at present.

Past the level at 0.9978 may target the resistance on the level at 1.0027 high. A break from there may re-activate the rally from the level at 0.9659. Below a break of the level at 0.9911 will turn bias back to the downside for a retest of the level at 0.9851.

Instrument: USDCHF
Order: Sell
Entry price: 0.9929
Stop: 0.9978
Target: 0.9851

Note: Learn2Trade.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

Ripple (XRP) Pulls Back Amid Bullish Expectations

Key Resistance levels: $0.30, $0.40, $0.45
Key Support Levels: $0.25, $0.20, $0.15

XRP/USD Long-term Trend: Bearish
On November 6, the bulls made a positive move but were resisted at the $0.31 price level. This singular resistance has thrown XRP into another downward move. In recent times, the coin has been making frantic effort to break into the previous highs but the $0.30 has been a strong resistance level. The bulls are faced with the challenge to penetrate the $0.30 and $0.31 price levels.

The price tested the resistance levels but lack of buyers at the upper price level, compels the coin to fall. XRP is trading at $0.27, and if the selling pressure continues, the market will reach a low of $0.24. However, if the coin has more buyers at the $0.25 price level, the price may find support at $0.25.

XRPUSD-Daily Chart

Daily Chart Indicators Reading:
The bears have broken the support line of the channel. This signifies that XRP may further depreciate. As the support line is broken, XRP may fall to a low of $0.24. The market has fallen to level 42 of the RSI, meaning that it is below the centerline 50. Also, the coin tends to fall.

XRP/USD Medium-term Prediction: Bullish
On a 4-hour chart, XRP had its last bearish impulse on September 24 and the coin fell to a low at $0.23. It commenced a bullish move and reached a high of $0.30. XRP has been facing resistance at $0.30 in October. The bulls tested the resistance level several times before it was repelled. It appears the coin has resumed a downward move.

XRPUSD-4-Hour Chart

4-hour Chart Indicators Reading
In the same manner, the bears have broken the support line as the price fell to a low at $0.27. The price made retest at $0.28 and resumed the downward move. The 21-day and 50-day EMAs are sloping downward indicating that the market is falling.

General Outlook for Ripple (XRP)
All the indicators are showing that XRP is in a bearish momentum. There is likelihood that the coin will revisit the previous low of $0.24 if the downtrend continues. Nevertheless, as the market continues its fall, the price may find support at $0.24 or $0.25 price levels.

Ripple (XRP) Trade Signal
Instrument: XRPUSD
Order: Sell
Entry price: $0.27
Stop: $0.29
Target: $0.24

Investors Are Optimistic as Price Movement on Litecoin (LTC) Becomes Interesting

Key Resistance levels: $90, $100, $110
Key Support Levels: $50, $40, $30

LTC/USD Long-term bias: Bullish
Litecoin tested the $50 support level in September and rebounded. The bears came again and tested the same support in October and rebounded. The support level is holding as the coin commences a bullish move. In November, the coin’s bullish move has been hampered by the resistance at $64. The bulls have tested the resistance twice but could not breakthrough. We expect a breakout at this resistance.

A breakout will push LTC to a high of $80. Likewise, another movement will propel the price to reach the $100 price level. However, it may not work out easily for the bulls. If the bulls fail to overcome the resistance, the price will retrace and retest the resistance level. On the other hand, the coin will fall and retest the $50 support level.

LTC/USD-Daily Chart

Daily Chart Indicators Reading:
Presently, Litecoin is in the overbought region but below the 80% range of the stochastic. This implies that the coin is in a bearish momentum. The LTC has a bullish crossover which means the coin will rise. Besides, the price breaks the downtrend line which also indicates that the selling pressure may have ended. This has been confirmed by the Fibonacci tool that the market will fall and reverse at the 1.272 extension level.

LTCUSD Medium-term bias: Bullish
On the 4- hour chart, Litecoin had its bearish impulse on September 24 and consolidated above the $52 support level. After a month of consolidation, the price fell again and found support at the $50 price level. The new support was held as price resumed a bullish movement to the previous highs. The upward move was interrupted as the price tested the $64 price level .

LTC/USD-4-Hour Chart

4-hour Chart Indicators Reading
Litecoin is now trading in an ascending channel. The coin will rise if the price breaks the resistance line and closes above it. Likewise, the coin may fall if the price breaks the support line and closes below it. The moving averages are trending northward indicating that price is rising,

General Outlook for Litecoin
The bulls have broken the downtrend line which is a positive move for Litecoin. The price action and Fibonacci tool have confirmed that the selling pressure is over. Litecoin is expected to rise if more buyers are introduced at the upper price levels.

Litecoin Trade Signal
Instrument: LTC/USD
Order: Buy
Entry price: $61
Stop: $50
Target: $80

EURUSD Likely to Hold on to Its Support as Bearish Momentum Faints Slightly

EURUSD Price Analysis – November 11

In the European session, at GMT10:00 hrs, the pair is trading at 1.1032, with the EUR trading 0.13% higher against the USD from Friday’s close. And for the 24 hours to 23:00 GMT, the EUR plunged approximately 0.28% against the USD and closed at 1.1019 on Friday, amid the eurozone ongoing political uncertainty.

Key Levels

Resistance Levels: 1.1450, 1.1280, 1.1178

Support Levels: 1.0000, 1.0962, 1.0879

EURUSD Long term Trend: Bearish

The common European currency is expected to hold at support on the level at 1.1016, and a fall through could take it to the next support level of 1.1000. The pair is expected to find its first resistance on the level at 1.1055, and a rise through could take it to the next resistance level of 1.1073.

In the long term picture, the initial rebound from the level at 1.0879 is viewed as a corrective scenario. However, in the event of another advance, upside may be restricted by a retracement of the level at 1.1280 to 1.0879 at 1.1450. Although, a sustained break of the level at 1.1450 may alter this bearish pattern and bring more advancement of the correction.

EURUSD Short term Trend: Bearish

EURUSD intraday bias stays lightly on the downside in the present while it stays on its medium-term support on the level at 1.1016. A corrective rebound from the level at 1.0879 is expected to be over on the level at 1.1178 as of now. A further plunging may be seen to retest the level at 1.0879 low.

Meanwhile a break there may resume a larger downtrend from the level at 1.1178. Above its near term resistance on the level at 1.1092 may alter its intraday bias neutrality hence, the FX pair displays weakness in the short-term (as per its long term downtrend).

Instrument: EURUSD
Order: Sell
Entry price: 1.1055
Stop: 1.1092
Target: 1.0879

Note: Learn2Trade.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

GBPUSD May Register Weakness at the Beginning of the Week by Pointing to the Most Recent Lows

GBPUSD Price Analysis – November 10

The pound sterling is currently registering a continuing weakness against the USD as observed in the previous session that ends the last week of trading down on Friday at the level at 1.2775 after losing 39 pips. The sellers took control of the FX pair, as it confirmed their breakthrough in the previous low session after trading up to 25 pips below the intraday.

Key levels

Resistance levels: 1.3301, 1.3185, 1.3012

Support levels: 1.2582, 1.2195, 1.1958

GBPUSD Long-term trend: Bullish

In the long-term picture, a medium-term base was structured at the 1.1958 level, before the base at the lowest low. Meanwhile, for this scenario, the advance from the level at 1.1958 is seen as a strong consolidation from the lowest low.

However, an additional advance towards the resistance level of 1.3185 can be recorded. However, this may remain the probable scenario while the level at 1.2582 resistance stays as intact support. Therefore, the firm break of the level at 1.2582 can again shift attention to the level at 1.1958 low.

GBPUSD Short-term trend: Bearish

GBPUSD had collapsed slightly last week in the 4-hour timeframe, as consolidation from the 1.3012 level extended down. The initial bias remains neutral first and the possibility of a sustained plunge is likely.

Although the downward move may be restricted above the level at 1.2582 resistance turned support to resume its advance. At the top, a break of the level at 1.3012 may resume the advance of the level at 1.1958 to 1.2582 at 1.2195 beyond the level at 1.3012.

Note: Learn2Trade.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

Stellar (XLM) Rebounds And Continues Its Upward Move Above The Downtrend Line

Key Resistance levels: $0.09, $0.10, $0.11
Key Support Levels: $0.06, $0.05,$0.04

XLM/USD Long-term Trend: Bullish
Stellar has been struggling to break the $0.09 resistance level after price rebounded at the $0.06 support level. In September, the bulls attempted to breach the $0.09 resistance but the bulls suffered a setback as the coin dropped to the $0.06 support level. In November, the price tested the $0.09 resistance and it fell to the $0.07 support level. Today, Stellar is making an upward move to retest the $0.09 resistance level.

The market is rising and if the bulls succeed in overcoming the $0.09 resistance, XLM will rise and reach the $0.13 price level. However, if the bulls are overwhelmed at the resistance, the coin will fall or be compelled to a sideways move.

XLMUSD-Daily Chart

Daily Chart Indicators Reading:
The coin has broken the downtrend line after making a second attempt to breach it. However, the bulls are in control of price but the market trades below the $0.09 resistance level. The market has reversed at the 1.272 Fibonacci extension level as indicated by the tool.

XLM/USD Medium-term bias: Bullish
In November, the price is making a series of higher highs and higher lows as it moves up to test the $0.085 resistance level. The price fell to a low of $0.07 and resumed another bullish move.

XLMUSD-4-Hour Chart

4-hour Chart Indicators Reading
Stella is trading in an ascending channel as price makes a false breakout and falls back to the channel. Also, the market is trading in the bullish trend zone of the RSI period 14 level 66. This indicates the coin is rising.

General Outlook for Stellar
Stellar has recovered as it breaks the downtrend line. This implies that the bulls have an upper hand above the bears. The price of XLM is above the EMAs which indicates that the price is rising. However, if the price falls below the EMAs, this will portray a negative sign as the bears will resume selling pressure. Nevertheless, a sustained bullish momentum will propel the price to reach the previous highs.

Stellar Trade Signal
Instrument: XLM/USD
Order: Buy
Entry price: $0.077
Stop: $0.065
Target: $0.09

EOS Begins a Gradual Rally; Can It Reach the Resistance Level at $6?

Key Resistance Levels: $5, $6, $7
Key Support Levels: $3, $2,$1

EOS Price Long-term Trend: Bullish
EOS is in a bullish move but it is encountering penetration at the $3.70 price level. The market pulls back and continues to trade below $3.70. EOS has made concerted efforts at the resistance so as to move up the price ladder.

Previously, the bulls have successfully prevailed over the downtrend line as the coin moves up. Similarly, if the current resistance level is surmounted, the coin will move up again to either $4.60 or $5 price level. Nonetheless, if EOS fails to move up, the coin will fall and find support at $3.20.

EOSUSD - Daily Chart

Daily Chart Indicators Reading:
The RSI period 14 levels 58 signify that EOS is falling and approaching the sideways trend zone. EOS is at the point of a bullish crossover which means that EOS may rise. The downtrend line has already been broken as the market went up. It is unlikely for the selling pressure to resume and price fall below the downtrend line. If it does price may retrace to a low of $ 3.20.

EOS/USD Medium-term bias: Bullish
On the 4-hour chart, the EOS fell to a low of $2.60 in September and October to resume a bullish move. In September, the market went up but was resisted and it dropped to another low at $2.60.

At this low, a trend line is drawn to establish the level of price movement. The uptrend is said to be continuing if the price makes higher highs and higher lows. Nevertheless, if the market falls and breaks below the trend line, the uptrend is said to be ended.

EOSUSD- 4-Hour Chart

4-hour Chart Indicators Reading
EOS is below 40% of the stochastic indicator signifying that price is in a bearish momentum. The EMAs are trending upward suggesting that EOS is rising.

General Outlook for EOS
EOS is in a bullish market. At a low of $2.60 in September the bull market was short-lived as it was terminated at $3.20 price level. The bulls embarked on another bullish move in October but faced another resistance at $3.70 after breaking the initial resistance at $3.20.

As already indicated in the price analysis, EOS may move up, if it takes care of $3.70 price level. However, on the 4-hour chart, if EOS pulls back and breaks below the trend line, the market will drop again.

EOS Trade Signal
Instrument: EOSUSD
Order: Buy
Entry price: $3.40
Stop: $2.50
Target: $6.0

EURJPY Bullish Recovery Expected to Ease out and Continue in a Symmetrical Line Downwards

EURJPY Price Analysis – November 8

The European common currency had a bullish rebound versus the Japanese yen in the last session while testing the horizontal zone on the level at 121.11. Meanwhile, the pair’s exchange rate may likely continue to fluctuate and lose strength within this session. The potential target next may be at the level at 119.11.

Key Levels

Resistance levels: 127.52, 123.37, 121.47

Support Levels: 119.11, 117.08, 115.86

EURJPY Long term Trend: Bearish

EURJPY exited the prior session on the level at 120.76 after recording a gain of 15 pips and in the present session the FX pair is trending up to 40 pips lower after the open, the market momentum managed to stay on its support during the session whereas it may end the day below its opening price.

Additionally, the decisive break of the level at 120.35 support may affirm this scenario and may allow further plunge past the horizontal support zone. And reactions from here may determine whether the medium term has reversed. Presently, a further rebound is expected so far the level at 117.08 support remains intact.

EURJPY Short term Trend: Ranging

On the 4-hour time frame, the intraday bias in EURJPY stays neutral for consolidation below the level at 121.11. A lower retracement may be recorded, but a downward zone may be restricted by the level at 119.11 near term support.

Although on the upside break of the level at 121.47 may resume the advance from the level at 115.86 to 117.08 past the level at 121.47 to 122.32 resistance next, however, while still in a long-term downtrend, the short and medium-term outlook is ranging.

Instrument: EURJPY
Order: Sell
Entry price: 120.35
Stop: 121.47
Target: 119.11

Note: Learn2Trade.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results