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RidetheMacro| AUDUSD Crawls downwards 📉AUDUSD Key Points The Focus will be on the Australian Dollar this week with the Reserve Bank of Australia (RBA) expected to make a major decision on its cash rate. Additionally, the government will release its Annual Budget. As of Friday’s close, market consensus was evenly split on whether the RBA will adjust the cash rate in October or November. A 50/50 consensus usually means no rate cut. Rather than another full 25 basis point cut, it seems most market participants are anticipating some version of “micro easing” such as lowering the official cash rate from 25 bps to 10 bps this month or next. “Consequently, financial markets are now anticipating a roughly 50% chance the RBA will cut the official cash rate before the end of the year,” according to Brian Reid, Treasurer of Newcastle Permanent. For weeks, investors had been pricing a rate cut to 0.10%, based on forecasting from Westpac. But that changed last week with Westpac economists now forecasting November instead, at the November 3 meeting. until the Next time. Ridethemacro
Short
by Ridethemacro
All eyes on the DOWToday I'm talking about the DOW cause there is a strong correlation between Bitcoin and the Global Markets atm. The DOW has made significant gains after a brutal last week, yet are we out of the woods? News -Presidential debates will take over the market until after the election TA Now Lets start of simple and wanted to say I wanted to show the 5min time frame but trading view said no, so I'll try to do my best to describe what I see even though with the high volatility that is about to happen the 5min time frame is what investors should be watching up too the election. -As of now the Dow has created a lower high after breaking out of our brutal downtrend, yet BTC took hits but is ultimately going sideways with higher swings of volatility depending ona .02% in the DOW. At the same time the DOW is creating lower highs which will result in more selling pressure going into the election. -You can see some blue circles, these repest similarties in past and present price action. This could result with a 200+ point move in the DOW, with give a 500+ point correction hitting a PT of 27696 roughly high and a 27138 low, with more movement lower next week -MACD is trending up looking for more bullish price action. -RSI is overbought showing the market could be nearing its end of a short term bull run Final Thoughts Best play is to take profit when you are in the green and don't be greedy. A recovery during heated debates could cause damage on short term trading accounts or looking for quick gains. Also quick note alot of rumors are going around that Oil will dump pretty soon and will happen before the market dumps, so watch for futures in Oil.
U
by nathanielx9
Trump-Biden event fails to impress Dollar bullUS dollar index sinking for a second consecutive session Tuesday, Gold extended gains. From the weekly timeframe, bullion is attempting to regain some status above support at $1,882, after missing channel resistance-turned support, etched from the high $1,703, by a hair. On the daily timeframe, room is seen for buyers until shaking hands with resistance at $1,911.With price approaching resistance on the H4 timeframe: the double-bottom take-profit target at $1,903, traders are likely to seek intraday bearish themes, despite the yellow metal trading decisively higher since 2016.The combination of $1,903, H4 resistance at $1,916 and daily resistance from $1,911 might be sufficient to tempt sellers into the market today. Breaking $1,916, on the other hand, may ignite further buying (in line with the current uptrend) and force H4 resistance at $1,941 and daily channel resistance, taken from the high $2,075, into play.
OANDA:XAUUSDLong
by OfficialYaMarkets
Crypto & Precious Metals. Biden jobs pledge. Growth in markets.Bitcoin picked up a bid while I was finishing the first video. I used the opportunity to discuss a notion that Joe Biden's plan would create 7 million more jobs than Trump, according to one economic forecast. I also look at Bitcoin, Litecoin, Chainlink and Ethereum again to discover that Bitcoin is outperforming the rest as it rose by $150 at the weekly open. I discuss the legend John Bogle, his views on investing and taking a small risk by investing rather than holding money is necessary to become truly wealthy. the money may be worth more in the first two years but then after being patient more than most begin to return far greater sums than they would earn from a regular job. #Bitcoin #BTC #Ethereum # Eth #litecoin #ltc #Chainlink #link #Band #Silver #XAG #Fibonacci #fibs #Chaikin #Money #Flow #Bollinger #Bands #Moving #Averages
BITSTAMP:BTCUSD
by DanBee78
1
Likely Bearish Scenario for the following monthsIf we're before a yet unconfirmed bearish phase, this is a likely scenario. You can trade within the bearish channel. A minimal market run-up usually always follow the days prior a new POTUS election. I think we can expect markets continue to fall whether Trump or Biden get elected. It will only stop falling until long-term Bitcoin channel bottoms are hit. This is hit or miss, don't take this a financial advice. I post to see if my prediction ability is on point or too far off. Cheers.-
BITSTAMP:BTCUSD
by Juanjo_LP
ELECTION DROPI changed my price target on SPY to ~$367. Yesterdays price action was way too strong into the close for this market to drop yet. Nobody cared about Powells speech. Nobody cares about EVERY stock in the market being overvalued by a minimum of 2x. We are continuing the ride up the wall of worry. IWM still has not completed its 100% retrace which WILL happen. I am noticing stocks all over the board developing extremely bearish patterns and parabolic moves to the moon. Post election, if trump wins, I anticipate the market to continue this ridiculous pattern. Biden wins, i expect a minimum of a 20% drop in the market.
AMEX:SPY
by ncontelmo
HOLD THE PHONE... ES to 4000+ by November ???In short, I am no longer short. The recent additional QE measures and absurd position of the Fed to continue to expand it's balance sheet with no regard of the consequences tell me a few things. A. The fed and talking heads know that they have pretty much convinced THE HERD that blowing a bubble inside of a bubble is not only logical, it's our saving grace. B. That this will end badly but, not yet. If you look back to the '29 crash that was also fueled by a careless debt-fueled cycle, you will see that prior to the main collapse, there was one last blow the top off-pump... That is what I believe began on March 23rd and will continue through the election. Nothing that has happened this year has been a surprise to the powerful elite. The real Bull/Bear battle here is political in nature, nothing maters but staying in control. I believe we are in an impulse 5 wave and will break ATH in the ES in the next 5 weeks. We are collecting under the top end of the all-important megaphone pattern and I believe we are about to breakthrough. After reaching ATH, matching the NASDAQ's pattern, then we will get a nice retracement to the top side of the megaphone pattern. From there a weaker and potentially very powerful bearish pattern. Perhaps a H&S pattern like BOEING's chart prior to the Feb breakdown. If Trump loses the market, he loses his base and the election. Therefore, there is nothing this "team" won't do to keep the party going for another few months. They have made that very clear and it's only 20 weeks away. I can see it now... Donny loses the election with markets at ATH's. like 4150 in the ES. Crazy numbers... He waves goodbye and signs his name on the V shape recovery he promised. Then, with the country in Biden/China's hands, we will see the epic collapse of our bloated state. 156% valuations to GPD might look small by November. ... or maybe we get rejected here and tumble, however, last I checked the money machine is still working. Food for thought or comment: What would happen if Biden wins and tries to clawback corporate tax cutes? Can he do that? What if the US's credit rating is downgraded internationally? What happens if we are no longer the reserve currency?
CME_MINI:ES1!Long
by Andimolz_
1