Main Trading Ideas on Commodity and Stock Market for 16.08.2018

LTCUSD

Litecoin is trying to make a strong bullish pattern “inverse head and shoulders” with a neck at $57.70. It is left to bounce from $52.50 support to finish the pattern. And it will be not only a reversal sign for the coin. Litecoin is still oversold on the 1-Day chart. There is bullish engulfing on the 4-hours chart and bullish convergence on 4-hours and Daily timeframes. So we will buy Litecoin after breaking the neckline with a profit target of $70 resistance.

EURUSD

We have a strong reversal sign in EURUSD. Yesterday there was a “rising star” candlestick pattern on the daily chart. And currency pair growing for the current trading session. If today’s candlestick closes on the bullish side, it will confirm reversal sign.
So we will increase our long position in EURUSD with a profit target at 1.1430.

So our targets for:
LTCUSD – $70
EURUSD – 1.1430