Bitcoin posted big key-reversal bar on the weekly time-frame Bitcoin is already near resistance around 9222, the January spike-low, and the trend-line from last month. A break through both of these hurdles could have Bitcoin finding a resurgence of buyers for a larger rebound to unfold back towards 11.5-12k, or better. The lower end of that targeted zone would wipe out the last leg lower from the triangle proceeding the ...
The Euro has paused to digest losses after touching the lowest level in a month against the US Dollar but overall positioning hints further weakness is ahead. The single currency appeared to mark a top below the 1.26 figure last week having broken the series of higher highs and lows set from early January. From here, a daily close below the 38.2% Fibonacci retracement at 1.2162 opens the door for a challenge of the 1.2046-70 area (50% level, ...
The US Dollar Index (DXY) appeared to be on a one-way course as it continued to aggressively fall through most of 2017 and the start of 2018. However, on January 25, after tapping 88.43, we have seen a bounce that has aligned with the global risk-off move. Now, the DXY is looking to rise for the second straight week,and a few key technical tests await the US Dollar Index at 91, the 38.2% retracement level of the October-January range followed ...
We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests Oil - US Crude prices may continue to rise. Positioning is less net-short than yesterday but more net-short from last week. The combination of current sentiment and recent changes gives us a further mixed Oil - US Crude trading bias. Traders are defined by their lack of patience in realizing a profit, which could make the historically long ...
The New Zealand Dollar turned lower as expected, breaking the rising trend guiding the currency higher against its US counterpart since early December. The plunge played out against a backdrop of risk aversion that gripped financial markets amid worries about a steep Fed rate hike cycle. Near-term support is now at 0.7186, the 38.2% Fibonacci retracement, with a break below that on a daily closing basis opening the door for a challenge ...
Recent Visitors
Archive
Go to Profile
Mark as Read