Big tings a gwan for DXY, A/U, A/C, XAU, BTC, ETH, TotalMC!To summarise
DXY failed to make higher highs and then had one last attempt and rejected off key levels on the monthly time frames, creating a failed higher high. It looks like it is wanting to continue its long term channel structure.
But we have to be vigilant to the downside as it could still make a higher low and push higher and break out.
We will watch for the 92 level.
A/U
Made a higher low on the macro time frames, this could be the start of a new long term up trend and this previous downtrend we were in, being a correction to the new uptrend.
We need to break 0.78250 for confirmation of new macro up trend and can trade up to this in the mean time.
Monthly looks bullish
A/C
Potential new higher low on the macro time frame! We have been making higher lows.
I am looking for a retest of the 61.80 on the lower time frames, thats creates a higher low to take longs. Up side targets are plentyful.
Something like this on the shorter frames.
Uptrend confirmed once we break these levels
XAU
Potentially in a bullflag that should break to make ATHs. This correlates with the DXY being bearish.
BTC
Technically we are still in a uptrend and have made higher lows. We have reacted off the 61.80 but need to break the 61.80 on the upside and make new highs to continue the bull market. Will be observing the 60k region. If we fail to make higher highs I am out of the crypto market.
ETH
Same again but with stronger buying pressure. We are still within an uptrend until we fail to make higher highs.
Total Market Cap
same as above but with less sales pressure.
Fundamentally, the increase of price in these assets makes sense with the current inflation narrative.
This is purely opinion and not financial advice. Most of this analysis is done on candles that have not closed yet, until we have confirmation nothing is certain!
