Hey folks, it’s a wrap to yet another month in the 2023 calendar, and I’m guessing you know what that means - time for another episode in the “What To Trade” series. For December, I will be mapping out trade more cautiously as the market volatility often drops
Will the Fall of USD Bring Hope to the Crypto Markets?
2022-09-21 • Updated
Last week after rebounding off the "turncoat resistance" at 108.128, the US Dollar failed to create a new high, increasing the chances of a bearish continuation. It is also important to note that while we await the Feds' decision this Wednesday, bearish pressure continues to mount on the US Dollar from the Golden Fibonacci level at 61.8% of the most recent swing low.
After bouncing off the previous Major trendline last month, Bitcoin seems to be retesting the support area again in hopes of catching a bullish momentum. BTCUSD's rise may, however, be short-lived.
USDJPY has broken below the trendline inside the Weekly resistance zone and seems to be heading to 141.555 as the first possible area of support. 139.272 seems to be the next area of support provided price breaks through the initial one at the 141 area.
Last week Friday, NZDUSD closed bullish on top of the major trendline from May 12, 2022, and seems to be getting ready for a bullish run all the way to the 50-MA at 0.61498 area. The major target in view is around the 0.61400 area.
Still within the Daily Support zone and with interest rates fundamentals incoming this week, The AUDUSD pair may be prepping for a change in the bearish momentum. So far, we saw Friday close with a Bullish rejection candle, thus, increasing the chances of a Bullish short-term rally.
USDCAD may face serious rejection from the upper trendline boundary of the wedge it is currently trading inside. The upper boundary of the wedge has the Daily resistance level as an added confluence, and we may see prices sink as far as the 1.30500 area.
The EUR/USD pair is making gains, approaching multi-month highs around 1.0960, driven by a weakened USD and Christine Lagarde's somewhat hawkish remarks before the European Parliament. Minor housing data from the U.S., specifically New Home Sales for October, came in below expectations but didn't significantly impact the pair. Lagarde, President of the...
Canada's forthcoming Consumer Price Index (CPI) data, set for release on Tuesday, is projected to show a year-on-year decline in inflation to 3.2% for October from the previous 3.8%. This potential inflation dip might offer leeway for the Bank of Canada (BoC) to maintain its overnight rate target at 5.0% in the...
The energy industry has undergone several major changes in the XXI that are becoming increasingly apparent…
In the dynamic world of financial trading, understanding the nuanced relationship between the Federal Reserve's key interest rates and Bitcoin can be a game-changer…
As the US Non-Farm Payrolls (NFP) take center stage, this month's data gains special attention, particularly after the unemployment rate took a concerning turn in the previous month. The US ADP Employment Change reveals a significant decline, with the economy adding 298K new jobs...