USD is knocking on the dollar of a breakout extension of it record breaking run, we up against 104 on Dollar index which is the 2017 high and we have so far rejected a few attempts since last week.
Market could be caught a little long here if US CPI falls for the first time this year when its released Wednesday US morning. A fall should help sentiment and perhaps...
Major Support Zone above long term .618 fib retracement. Range 28800-30K buying zone.
Bullish Divergence on RSI between lows.
Heavy Band of resistance close to 0.5 fib retracement - range 34350-36500.
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Gold was one of the most oversold and have seen a very sharp $50 rally overnight back to $1900 as the FED calmed fears by taking 0.75% rate hikes off the table.
We are quickly coming up to the $1900-$1910 key resistance which if we can break will take some of the downside pressure off the buyers. This key resistance also lines up with the 38% retracement and so...
AUD/USD has been belted in recent weeks as the USD bullied every major FX pair. The selling is overdone and into major support ahead of the FOMC meeting tonight.
Yesterday the RBA raised rates by 0.25% to 0.35% and we have begun the rate hike cycle with the central bank refocused on inflation.
We look for buy the rumour sell the fact USD selling tonight after...
Approaching Major Support zones 2726 - 2763 with scattered support below = Less Conservative Entry Levels
Conservative Entry Level = Break/Reclaim of the 50EMA + Trend Resistance
Price has continued to trend lower as it rejects off both the 50EMA and Trend Resistance.
Heavy Zone of resistance located further between 2940-2970
easyMarkets Account on...
Major positive announcements from the CCP today say Chinese stocks soar and the big picture outlook improve dramatically.
Covid stimulus for those companies affected by the lockdowns, cheaper share trading fees, but the big one is the end of the clampdown on the Chinese Tech sector.
Alibaba and Tencent the two biggest tech companies soared and if the government...
Zone of Liquidity/Support 37630-38320 with Trend Line Support
+ Bullish Divergence on RSI
+ Lots of scattered support in this range which price can go to (So Smaller Trade Size and Wider Stop Loss)
Resistance from 39450 and above. Keep in mind the 20EMA and 50EMA lurking under and above this resistance level which price can also reject off strongly.
easyMarkets...
USD is rallying pre the big show on hawkish FED bets ahead of the FOMC meeting May 4th. Bond market speculators have aggressively priced in multiple FED rate hikes in the coming 12 months and its going to be very hard for the FOMC to be as hawkish as the market.
The 2017 highs were seen just at the start of US rate hike cycle as well and very often we...
Tesla has successfully navigated a dangerous earning season by reassuring the market about production at the shutdown Chinese plat in Shanghai will bounce back and meet Q1 numbers.
We expect gap to 1030 resistance with break above targeting first move back to 1080.
Failure to break higher would be bearish given the market structure and a warning sign for the...
We look at the USD/JPY and its driver the US Interest rate market. We talk about the key Y130 level that may Upset the Bank of Japan and Ministry of Finance.
Japan is historically one of the biggest FX interverners but the first step is always jawbowning (Official comments of concern about the Yen)
We looking for either that or data/comments from FED members to...
Traders Thoughts
The selloff in netflix has seen nearly all the "stay at home" pandemic gains erased. But we are back at more familiar levels and much better value. Once the market finds downside support then the relief rally should be quite large.
At these levels the risks are skewed to topside with market mood towards netflix already negative anything that...
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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