NVIDIA - Short Term - We look to Buy at 236.90 (stop at 198.95)
We look to buy dips. Trend line support is located at 237.00. Previous resistance at 230.00 now becomes support. The 50% Fibonacci retracement is located at 231.50 from 116.00 to 347.00. The bias is still for higher levels and we look for any dips to be limited. Risk/Reward would be poor to call a...
Ethereum - Intraday - We look to Sell at 4455 (stop at 4616)
Price action continued to range between key support & resistance (3905 - 4868) and we expect this to continue. As this corrective sequence continues we look to set shorts on a rally at better risk/reward levels. We have a 61.8% Fibonacci pullback level of 4455 from 3923 to 4784. Preferred trade is to...
Alphabet - Short Term - We look to Sell at 2875 (stop at 2967)
Broken out of the channel formation to the downside. Price action has formed a bearish ending wedge formation. Price action has posted a bearish Engulfing Candle and is negative for short-term sentiment. A lower correction is expected. Preferred trade is to sell into rallies.
Our profit targets...
Ethereum - Intraday - We look to Sell a break of 4209 (stop at 4302)
Trading within a Bearish Channel formation. Intraday signals are bearish. A break of yesterdays low would confirm bearish momentum. We expect a significant move lower if prices manage to break the 4250 support. Further downside is expected and we prefer to set shorts in early trade.
Our...
Netflix - Short Term - We look to Buy at 564.00 (stop at 542.00)
We look to buy dips. We have a 61.8% Fibonacci pullback level of 479.00 from 700.00 to 563.00. The 200 day moving average should provide support at 560.00. Previous resistance, now becomes support at 560.00. The bias is still for higher levels and we look for any dips to be limited. Risk/Reward...
AMC - Short Term - We look to Sell at 34.12 (stop at 39.53)
We look to sell rallies. Previous support at 34.50 now becomes resistance. 50 4hour EMA is at 35.78. As this corrective sequence continues we look to set shorts on a rally at better risk/reward levels. Further downside is expected although we prefer to set shorts at our bespoke resistance levels at...
Just Eat Takeaway - Short Term - We look to Sell at 58.56 (stop at 66.36)
We look to sell rallies. Previous support at 59.00 now becomes resistance. The trend of lower highs is located at 66.36. We look for a temporary move higher. The bias is still for lower levels and we look for any gains to be limited. Further downside is expected although we prefer to set...
AbbVie - Short Term - We look to Buy at 119.00 (stop at 114.50)
Previous resistance level of 119.95 broken. A move higher has resulted in prices breaking from the previous range and confirmed our bullish expectation. We have a Gap open at 118.86 from 03/12/2021 to 06/12/2021. Further upside is expected although we prefer to set longs at our bespoke support...
Ethereum - Intraday - We look to Sell a break of 4428 (stop at 4505)
A break of the recent low at 4435 should result in a further move lower. We are trading at overbought extremes. Expect trading to remain mixed and volatile.
Our profit targets will be 4204 and 4154
Resistance: 4660 / 4700 / 4780
Support: 4500 / 4450 / 4400
Disclaimer – Saxo Bank...
Bitcoin - Intraday - We look to Buy at 56866 (stop at 55988)
Daily signals are mildly bullish. Trend line resistance is located at 58000. Bespoke support is located at 57000. We look to buy dips. We look for gains to be extended today.
Our profit targets will be 59387 and 60287
Resistance: 58000 / 59500 / 60000
Support: 57000 / 56000 / 55600
...
Bitcoin - Intraday - We look to Buy a break of 59019 (stop at 57996)
Trend line resistance is located at 58400. A break of resistance at 59000 should lead to a more aggressive move higher towards 60000. A break of yesterdays high would confirm bullish momentum. Daily signals are mildly bullish.
Our profit targets will be 61878 and 62778
Resistance: 59000...
Summary: The contagion across asset markets triggered by new covid strain concerns has hit FX in the form of classic deleveraging, as euro and yen shorts are squeezed on a reversal of recent US yield rises and safe haven seeking, while the US dollar gets a pass elsewhere because it is still safer than smaller, less liquid currencies, particularly in EM. The...
Summary: US President Biden will tap Jay Powell for a second term as Fed Chair and will nominate Lael Brainard to be promoted to Vice Chair of the Fed, a move that sent the USD modestly higher and US yields sharply higher, though some of the reaction may have been on pent-up reaction to prior developments. Elsewhere, the descent in the Turkish lira is turning...
Summary: The strong USD and now a strong JPY, together with other market indicators suggest a rather strong wave of risk aversion rolling over markets here on spreading Covid restrictions in Europe and as we await the US Fed Chair nomination announcement and wonder to what degree it matters beyond a knee-jerk reaction. Next week an interesting test for markets as...
Summary: A fresh spike in natural gas prices in Europe accelerated the relative weakness of the euro yesterday and the single currencies performance is so dire that we have to consider where to look if the market transitions to more existential, as opposed to cyclical concerns. Elsewhere, SEK has recently looked like the baby being thrown out with the bath water...
Summary: The bottom continues to fall out for the euro, which notched new lows for the cycle versus the US dollar as Covid and growth concerns weigh. Sterling is in part responsible for the weaker single currency as it has recovered all of the losses in the wake of the disastrous Bank of England meeting last Thursday on strong jobs data, the narrative and even...
Summary: The US October CPI data came in far hotter than expected at new multi-decade highs, jolting markets across the board as Fed rate hike expectations were brought forward. The US dollar strengthened across the board, and so did gold as real yields plunged on the market figuring that the Fed will remain behind the curve on inflationary risks. On that note,...
Summary: The JPY is challenging speculative positioning and rallying as global long safe haven yields have dropped sharply, particularly in the US on Friday after a nominally strong October jobs report. Elsewhere, the USD status is in focus this week ahead of the unknown, but imminent timing of the Fed Chair nomination, and sterling traders will wonder if the...
