ONLINE FOREX BROKER
2021-09-20 • Updated
Let’s check the charts and set some goals!
The US100 index plunges as the US dollar strengthens. The US stock market will face a big correction at the end of September!
Daily chart
NASDAQ faces the correction everybody has been waiting several months. US stock index gained by more than 120% since March 2020 drop. Targets are 14600 (2,7%) and 14000 (7,1%).
Gold has always been the best safe-haven asset. This market turbulence period will not be an exception. XAU/USD already shows strength against the whole market, and we suppose this trend to continue. Targets are $1777 and $1783.
Bitcoin price demonstrates that the community does not recognize crypto as a safe haven. Bitcoin plunges by 8% on Monday. Despite this, we expect the pullback to happen during this week if Bitcoin steaks above $44 200 by the end of Monday's trading session. Target is $47 000. If it breaks, $42 850 support level and holds below it, we will see a drop with the target at $40 500.
The Crypto market usually also has a rough time in September. Bitcoin lost 12.7% in September 2021, 17.4% in 2020, 17.5% in 2018, 21.4% in 2017 and 45.4% in 2015. The main cryptocurrency increased by 13.3% and 3.95% in 2016 and 2019, respectively.
Warren Buffett, the American businessman and philanthropist, has put most of Berkshire Hathaway’s cash in short-term United States Treasury bills since they offer as much as 3.43% in yields.
US100 broke through the strong resistance trendline, following July's inflation numbers on Wednesday, which were less than analysts expected…
The views here are solely based on Technical Analysis techniques using my personal Smart Money approach. Hence, it is important to understand that the trading of CFDs comes at a risk; if not properly managed, you may lose all of your trading capital. To avoid costly mistakes while you look to trade these opportunities, be sure to do your own due diligence and manage your risk appropriately.
Even though we've only witnessed sluggish movements from the Dollar over the past few weeks, the general idea and bias still seem intact and untampered. The bullish impulse however can be seen as "searching for support".
Suddenly, the US Dollar Index fell 6.70% over the last two weeks, marking the biggest decrease in the currency since 2020.
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