ForexAnalytixPipczar

ForexAnalytixPipczar

Intraday Update: The USDCAD has hit a fresh low near the 78% retracement and is back above the 1.3663 previous support which is now risk of a false breakdown and move higher towards 1.3700.

ForexAnalytixPipczar

I could make an argument for Bitcoin rallying, but also for it to sell off. And to be frank, it has to do with more about what happens in the future in the markets. Do risk assets rally? Bitcoin would rally. Do risk assets sell off from profit taking and growth reasons? I think Bitcoin would sell off. Do stocks move down from a banking or debt crisis? I think...

ForexAnalytixPipczar

Intraday Update: Sellers are filling in ahead of the .6680 level. We can't forget the major descending trend line (dotted) from the post COVID lockdown highs comes in today around the .6660's too.

ForexAnalytixPipczar

Intraday Update: USDCAD has broken the 61.8% retracement and horizontal support today which should open up a move to the 1.3600 level again. Crude strength is giving the CAD a bid too.

ForexAnalytixPipczar

#Bitcoin bulls have been silenced overnight, and North American #crypto traders waking up a bit stunned I suppose. Keep in mind we have almost completed a range extension.

ForexAnalytixPipczar

Intraday Update: The GBPUSD bear flag pattern points to eventually the 1.2530 level, and currently we trade below the 127% extension of the last move higher and should target the 1.2583 next which is a confluence the 161% extension and 50% retracement of the April lows to June highs.

ForexAnalytixPipczar

20 June: Intraday Update: The SPX is holding channel support (thus far) with today's low at 5469, and a break of this level could expos e a move back to the 5320's.

ForexAnalytixPipczar

Intraday Update: The Swiss national Bank surprised the market once again with another rate but and the USDCHF has moved higher above descending wedge resistance, which does suggest a move back towards the .9000 level.

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Intraday Update: The SPX has reached the 161% extension of the April high/low and channel resistance. RSI is obviously overbought and divergent, but that has not mattered at all in this bull trend.

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The 10yr notes, or "ZN's" are nearing some key key resistance. The 50dma and 200dma (orange/red) moving averages have been intertwined for most of 2024 as price action has consolidated in this tight triangle for months. Considering we are at the top of the triangle and also at the 61.8% Fibonacci retracement of the 2024 range (and coming off a solid 20yr auction...

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Intraday Update: Ahead of today's retail sales data, the EURUSD has has rejected the 38% retracement and the 1.0740 level will be key resistance for the pair following the release. Strong data may put the 1.0668 trend low back in play again.

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Intraday Update: Ahead of today's retail sale numbers, the gold market is finding buyers ahead of the triangle support. A break of 2305 would put the critical 2280 level in play.

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Intraday Update: EURJPY has reached triangle resistance and the 88% retracement of the post BOJ move lower.

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Intraday Update: The USDMXN is at triangle resistance intraday. A break of the 18.60 level may expose a move back to the 18.77 level.

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Intraday Update: The GBPJPY is getting a strong reversal following yesterday's false breakout in GBPUSD. The bigger issue is the BOJ overnight, which should have any GBPJPY bulls on notice.

ForexAnalytixPipczar

Intraday Update: The USDMXN has come back to the key 18.50 level and could allow for buyers to step in near term.

ForexAnalytixPipczar

Intraday Update: Following the FOMC, the EURJPY is at triangle resistance. BOJ is at the end of the week and with the EURUSD sliding back to 1.800 longs may want to be cautious here.

ForexAnalytixPipczar

Intraday Update: The bull flag pattern in silver illustrates how important the $29 level is in Silver.