1st target if we keep going up is $3035- $3140, $3160, $3170 but the markets is is fear so not much volume, so bear may jump on it if nothing happened soon this will lead to a retest one more time to the low $3000 first target $3090-3$050-$2980.
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The Bitcoin pullback has now taken a deeper turn and we have fallen back to $40k which is a key Psychological level and potential support.
A break lower here would open up $38 and $34k which is the recent lows of this year.
The market correlation with Crypto and traditional stock risk appetite is getting closer and a reversal in US stock markets should help...
AUD/USD has baffled trading breaking out of the years range to the topside last Tuesday after the RBA changed to a hawkish stance.
AUD/USD rally was reversed sharply later in the week as US yields exploded and Oil eased back on Chinese lockdowns.
Still market is expecting RBA to raise in June now so if the USD rally based on US Bond yields can stop or reverse...
Watching Bitcoin consolidate its recent rally to $48k with a pullback to $44-45k and asking the question whether SoL will outperform bitcoin in any coming rallies.
Sol is a relatively new alt coin that has surged in value into the top10 cryptos last year.
Solana is used in NFT and crypto defi space with the network becoming a favourite of new...
RBA removed the word "patient" from its statement and upgraded its inflation forecast and noted uncertainty around the supply crisis keeping prices higher for longer.
The bond market reacted immediately and now pricing in multiple rate hikes over the next year.
AUD/USD has broken key resistance and is back into the 0.7500-0.7800 range and on the way higher for...
Crypto markets have rallied nicely in recent weeks. We look at Ethereum here and hope for a nice retracement to get long around he $3200 level.
Austine Dall easyMarkets Crypto Analyst Sydney gives the review.
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Wheat has been the most volatile commodity since the war started and we have fallen back to $1000 as peace talks improved.
Similar to Oil though peace will not fix the supply/demand issues with Ukraine and Russia accounting for 30% of wheat exports.
The consolidation period is likely over and if we can get some positive price action more buyers are likely to...
Buying have reclaimed control of Gold in recent session forming support above $1900 and we have started to march higher once again.
As the war drags on and Inflation spikes Gold is a natural hedge for many investors but it has disappointed many with the large reversal but this very common and the 2nd wave of buying now could be more important.
A failure at...
AUD/JPY has led the charge higher but as we get into Friday and overbought territory then we look for pullback levels to buy from.
At some point Oil should drop or USD/JPY and this can bring us back to Y90 on AUDJPY but bigger support would be the FIB support at Y88.
As long as commodities and interest rates are high AUD/JPY is well positioned to do...
Crypto markets were on the back foot last week, feeling the pressure as governments were looking at the asset as a way around sanctions. Compounding the affect was the U.S. government ordering an executive order looking into crypto assets. Most feared this would result in direct oversight and regulation, which is indeed part of the order, but also looked into the...
FOMC Today, with 0.25% rate hike largely expected with 0.5% off the cards since the war. But the USD has bought heavily into this event and there may not be much room left for gains in the short term without a profit taking spell. Buying the rumour selling the fact is very common in trading and could be the set up here.
In regards to which pairs are in play...
The markets are keeping an eye on the RBA’s March meeting minutes for more information about its policies. Last week the RBA kept rates at a record low of 0.1%, citing the Ukraine crisis as a new uncertainty. Also, governor Lowe had previously mentioned that he wants to see a couple more CPIs reports before deciding on rates.
The RBA statement reiterated a...
With Russia-Ukraine war raging and no quick end in site we entering a new part of the trade in which oversold conditions lead to sharp short covering rallies on Positive headlines.
Now exactly what or when the headline comes is uncertain but the reaction will be over the top give the short positioning. I like to buy DAX on a positive headline vs selling Gold and...
We approach US NFP this month with USD very strong at 98 on the Dollar index. Most of the USD strength is on the back of EUR/USD selling which is at the key 1.10 level ahead of the US Jobs number.
Forecast at 400k the cleanest pair to trade is USD/JPY which will go up if strong or down if weak. But given we in uptrend on USD if the number is weak but doesn't...
Oil reversed sharply from $116 to $108 when it was reported that Iran nuclear deal could bring Iran's Oil production back into the world supply if they give up Nuclear weapons.
We had initially talked about selling $120 but it began early and now is not simple to sell these levels which are much less oversold and is a different sort of trade to a quick smash and...
Support at 10.31 was previously strongly held on the Daily time frame and was lost upon the initial market reaction to Russia's invasion of Ukraine. Upon news that Russians are finding means of avoiding the sanctions through cryptocurrency, price action surged and is aiming to reclaim this level of support in addition to the Daily 20 EMA and flip trend resistance...
Bitcoin has surged back into the limelight with a major upside move of 15% the largest in 1 year back above $40000.
We look to buy dips now on the break targeting $50k. The Russia Ukraine war whilst a negative to begin with is turning positive for crypto as sanctions prompt demand for alternative transfer of money.
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