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BluetonaFX - USDJPY Pre-NFP Market ReportHi Traders! USDJPY finally reached the psychological 150.000 level this week and is so close to reaching its apex level at 151.946. However, there may be US dollar weakness on the horizon as the US finally ended its streak of consistent positive economic data releases with a worse-than-expected ADP non-farm employment change, which has got traders very nervous about today's NFP announcement. The market has been in an ascending price channel for the past seven months and has reached a very key level at the 150 level. If the US non-farm is worse than expected, we can expect a big pullback towards the 145 area. This is also due to expected JPY strength because of rumours that the Bank of Japan is intervening in the markets to try and prevent further JPY weakness. If the US non-farm is stronger than expected, we can expect a push back above the strong resistance at 150 and move towards the apex level at 151.946, which will be a record-breaking level. The benchmark NFP number to look out for is 171K; this is the expected number. We will be back after the announcement to give a post-NFP market update. Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
by BluetonaFX
BluetonaFX - Forex Weekly RecapHi Traders! Forex Weekly Recap for 18–22 September, 2023: Fundamentals The Reserve Bank of Australia (RBA) released the Meeting Minutes of its September meeting. Key notes were: They considered raising rates by 25 basis points or holding rates at the September meeting. The economy still appears to be on a narrow path by which inflation returns to target and employment grows. They are concerned about productivity growth not picking up as anticipated and service inflation remaining an issue. The European Central Bank’s (ECB) Villeroy hinted that the ECB has currently finished hiking; other key mentions from him were: The ECB will maintain interest rates at 4% for a sufficiently long time. The current ECB rates are at a good level; it is better to be patient now. Once inflation is back to around 2%, rates can start to fall again. The Bank of Canada released the minutes of its September meeting. Key notes were: The lack of improvement in underlying inflation is a major worry. They anticipate that rising oil and gasoline prices will push inflation up in the coming months. The balance between economic supply and demand will play a pivotal role in determining future core and total inflation. The Federal Reserve kept interest rates unchanged in the range of 5.25% to 5.50%, as expected. At the following press conference, Fed Chair Powell spoke, and key notes from him were: Growth in real GDP has come in above expectations. Labour demand still exceeds supply. Expects labour market rebalancing to continue, easing upward pressure on inflation. Inflation remains well above their long-term goal of 2%. Getting inflation down to the 2% target still has a long way to go. The Fed is prepared to raise rates further if appropriate. The Swiss National Bank (SNB) left interest rates unchanged at 1.75%, which came as a surprise as the market expected a 25 basis point hike to 2%. The Bank of England (BoE) left interest rates unchanged at 5.25%, which also came as a surprise as the market expected a 25 basis point hike to 5.50%. The bank vote also came as a surprise, as the bank vote was 4-5 vs. 8-1 expected (Bailey, Broadbent, Dhingra, Pill, and Ramsden voted to hold). Key Data New Zealand Services PMI came in worse at 47.1 vs. 48.0 prior. The US Housing Starts data came in worse, while Building Permits came in better. Housing Starts came in worse at 1.238M vs. 1.440M expected and 1.447M prior (revised from 1.452M). Building permits came in better at 1.543M vs 1.443M expected and 1.442M prior. The UK CPI came in worse across the board: CPI Y/Y came in worse at 6.7% vs. 7.0% expected and 6.8% prior. CPI M/M came in worse at 0.3% vs. 0.7% expected and -0.4% prior. Core CPI Y/Y came in worse at 6.2% vs. 6.8% expected and 6.9% prior. Core CPI M/M came in worse at 0.1% vs. 0.6% expected and 0.3% prior. The New Zealand Q2 GDP came in better across the board: GDP Q2 Y/Y came in better at 1.8% vs. 1.2% expected and 2.2% prior. GDP Q2 Q/Q came in better at 0.9% vs. 0.5% expected and 0% prior (revised from 0.1%). The US jobless claims came in better across the board: Initial claims came in better at 201K vs. 225K expected and 221K prior (revised from 220K). Continuing claims came in better at 1662K vs. 1695K expected and 1683K prior (revised from 1688K). The Australian Manufacturing PMI came in worse; however, the Services PMI came in better. Manufacturing PMI came in worse at 48.2 vs. 49.6 prior. Services PMI came in better at 50.5 vs. 47.8 prior. The Japanese CPI came in mixed across the board: Japan CPI Y/Y came in worse at 3.2% vs. 3.3% prior. Japan Core CPI Y/Y came in better at 3.1% vs. 3.0% expected and 3.1% prior. The UK August retail sales came in worse across the board: Retail sales Y/Y came in worse at -1.4% vs. -1.2% expected and -3.1% prior (revised from -3.2%). Retail Sales M/M came in worse at 0.4% vs. 0.5% and -1.1% prior (revised from -1.2%). German PMIs came in better across the board: Manufacturing PMI came in better at 39.8 vs. 39.5 expected and 39.1 prior. Services PMI came in better at 49.8 vs. 47.2 expected and 47.3 prior. The Eurozone Manufacturing PMI came in mixed across the board: Manufacturing PMI came in worse at 43.4 vs. 44.0 expected and 43.5 prior. Services PMI came in better at 48.4 vs. 47.7 expected and 47.9 prior. The UK Services PMI came in mixed across the board: Manufacturing PMI came in better at 44.2 vs. 43.0 expected and 43.0 prior. Services PMI came in worse at 47.2 vs. 49.2 expected and 49.5 prior. Technicals A mixed week for the forex majors, a bad week for GBP, especially with another week of worse-than-expected data leading to more weakening for the currency. AUDUSD 1W Chart AUDUSD held strong above the support level at the yearlow low and is trading comfortably above the 0.64000 area. The market briefly went above the 0.65000 area, which has not been seen since the end of August. USDJPY 1W Chart USDJPY is quickly approaching 150. The market is now trading just above the 148 level. The 150-level line lines up perfectly with the top of the ascending channel. EURUSD 1W Chart EURUSD is still continuing to head downwards after the support break of the rising wedge. A doji candle has formed on the 1W, which signals indecision, so we must be wary of this. GBPUSD 1W Chart GBPUSD is continuing its bearish momentum after the wedge support break. The next support area is around the 1.22000 level. The key focus for the upcoming trading week will be: Monday: German IFO. Tuesday: US Consumer Confidence Wednesday: Bank of Japan Meeting Minutes, Australia Monthly CPI, US Durable Goods Orders Thursday: Australia Retail Sales, US Q2 Final GDP, US Jobless Claims Friday: Japan Tokyo CPI, Japan Unemployment Rate, Japan Retail Sales, UK Q2 Final GDP, Eurozone CPI, Canada GDP, US Core PCE We will be back with another Forex Weekly Recap report next week. Best of luck for the upcoming trading week. Trade safely and responsibly. BluetonaFX
by BluetonaFX
5
BluetonaFX - Forex Weekly RecapHi Traders! Forex Weekly Recap for 11–15 September, 2023: Fundamentals Bank of Japan's (BoJ) Governor Ueda stated that his focus is on a "quiet exit" to avoid significant impacts on the market. Other key mentions from him were: They could have enough data by year's end to determine whether they can end negative rates. The BOJ will patiently maintain an ultra-loose policy. Wage increases are beginning to push up service prices. The key is whether wages will keep rising next year. Bank of England’s Mann noted that she prefers to use Economic Rates of Return (ERR) on the side of overtightening; other key mentions from her were: If she is wrong and inflation and the economy drop more significantly, she wouldn't hesitate to cut rates. We all need to prepare for a world where inflation is more likely to be volatile. The European Central Bank (ECB) hiked interest rates by 25 basis points as expected, bringing the interest rate to 4.00% vs. 3.75% prior. At the press conference, President Lagarde highlighted the slowing of the Eurozone economy. Other key mentions from her were: Rates will remain at sufficiently restrictive levels for as long as necessary. Rates were hiked to 'reinforce commitment to our target'. The economy is likely to remain subdued in the coming months. In the coming months, inflation will fall. Key Data The UK August Payroll came in worse at -1K vs. 30K expected and -4K prior (revised from 97K): The July unemployment rate came in as expected at 4.3%, up from 4.2% prior. July employment change came in worse at -207k vs. -185k expected and -66k prior. The German September ZEW survey came in worse at -79.4 vs. -75.0 expected and -71.3 prior. The Japanese PPI came in better month over month and came in as expected year over year. PPI M/M came in better at 0.3% vs. 0.1% expected and 0.1% prior. PPI Y/Y came in as expected at 3.2% and 3.4% prior (revised from 3.6%). The UK monthly GDP came in worse at -0.5% vs. -0.2% expected and 0.5% prior. The US CPI came in better year on year and came in as expected month on month: CPI Y/Y came in better at 3.7% vs. 3.6% expected and 3.2% prior. CPI M/M came in expected at 0.6% and 0.2% prior. The Australian August Jobs Report came in better across the board. Employment change came in better at 64.9K vs. 23.0K expected and -14.6K prior. Full-time employment came in better at 2.8K vs. -24.2K prior. Part-time employment came in better at 62.1K vs. 9.6K prior. The unemployment rate came in as expected at 3.7% (same as prior). The US jobless claims beat expectations across the board. Initial Claims: 220K vs. 225K expected and 217K prior (revised from 216K). Continuing Claims: 1688K vs. 1695K expected and 1684K prior (revised from 1679K). The US retail sales came in mixed across the board: Retail sales M/M came in better at 0.6% vs. 0.2% expected and 0.5% prior (revised from 0.7%). Retail sales Y/Y came in worse at 2.5% vs. 2.6% prior (revised from 3.2%). The US August PPI came in better across the board: PPI Y/Y came in better at 1.6% vs. 1.2% expected and 0.8% prior. PPI M/M came in better at 0.7% vs. 0.4% expected and 0.4% prior (revised from 0.3%). The New Zealand Manufacturing PMI came in worse at 46.1 vs. 46.6 prior. Technicals There was a strong end to the week for the US dollar after a slow start to the week against its major counterparts. AUDUSD 1W Chart AUDUSD again tested the 2023 low at 0.63646 and found support there. There was more bullish momentum at the support level this week to take the market near the 0.65000 level, which the market has not seen in a couple of weeks. The outlook on this pair is bullish, as it looks to be oversold. USDJPY 1W Chart USDJPY is quickly approaching 150. The market is now trading just under the 148 level. The 150 level lines up perfectly with the top of the ascending channel. EURUSD 1W Chart EURUSD is still continuing to head downwards after the support break of the rising wedge. The market has now broken below the 1.07000 handle, and there is an area of support around the 1.06000 level. GBPUSD 1W Chart GBPUSD is continuing its bearish momentum after the wedge support break. There is an area of support near the 1.23805 level. The key focus for the upcoming trading week will be: Monday: New Zealand Services PMI, Tuesday: Reserve Bank of Australia Meeting Minutes, US Building Permits, and Housing Starts Wednesday: UK CPI, FOMC Policy Decision Thursday: New Zealand GDP, Swiss National Bank Policy Decision, BoE Policy Decision, US Jobless Claims Friday: Japan CPI, Bank of Japan Policy Decision, UK Retail Sales, Flash PMIs for Australia, Japan, UK, Eurozone, US We will be back with another Forex Weekly Recap report next week. Best of luck for the upcoming trading week ahead. Trade safely and responsibly. BluetonaFX
by BluetonaFX
4
BluetonaFX - Forex Weekly RecapHi Traders! Forex Weekly Recap for 04–08 September, 2023: Fundamentals The European Central Bank's (ECB) President Lagarde noted that she is focused on inflation expectations and keeping them in check. She also noted that it will be critical for central banks to keep inflation expectations firmly anchored while these relative price changes play out. The Reserve Bank of Australia (RBA) left the interest rate unchanged at 4.10%, as expected. RBA’s Lowe gave his final speech as governor, as Deputy Governor Bullock is due to take over as the new head on September 18. Key mentions from him were: 1. It is possible that Australia can sustain unemployment rates below what they have had over the past 40 years. Interest rates influence housing prices, but they are not the reason Australia has some of the highest prices in the world. 2. The issue that defined his term more than any other was forward guidance on rates during the pandemic. The Federal Reserve's Waller changed his stance, and he’s now leaning towards a pause on the next interest rate decision. Other key mentions from him were: 1. The jobs data last week showed the job market is starting to soften. 2. Unemployment is about where it was a year ago, so change isn't that big. 3. The data will determine whether the Fed hikes again. The Bank of Japan’s (BoJ) Takata noted that he is optimistic about hitting the inflation target but remains wary of downside risks. Other key mentions from him were: 1. Japan is seeing early signs of hitting 2% inflation. 2. Japan's economy is recovering moderately. 3. There are signs of change in Japan's trend inflation as rising wages push up inflation expectations. The Bank of England’s (BoE) Bailey noted that he is expecting a "marked" fall in inflation by year-end. Other key mentions from him were: 1. Wage bargaining has surprised to the upside. 2. Many indicators are signalling a fall in inflation, which will be marked by the end of this year. The Bank of Canada's (BoC) Governor Macklem delivered his speech at their policy decision meeting. Key mentions from his speech were: 1. They are concerned that progress in bringing down inflation has slowed. 2. They are prepared to raise rates again but don't want to raise them more than they have to. 3. The longer they wait, the harder it is likely to be to reduce inflation. 4. The weakness in second-quarter GDP largely reflected a broad-based slowing in consumer spending and a decline in housing activity. 5. They will take decisions meeting by meeting. 6. They are expecting growth of 'a little less than 1%' over the next few quarters. 7. They expect headline inflation to go up in the near term before it eases. Key Data The Eurozone July PPI came in better than expected across the board: PPI M/M came in better at -0.5% vs. -0.6% expected and -0.4% prior. PPI Y/Y came in better at -7.6% vs. -7.6% expected and -3.4% prior. The Australian GDP Q2 came in better at 0.4% vs. 0.3% expected and 0.4% prior. The Eurozone's July retail sales came in mixed across the board: Retail sales M/M came in worse at -0.2% vs. -0.1% expected and 0.2% prior (revised from -0.3%). Retail Sales Y/Y came in better at -1.0% vs. -1.2% expected and -1.0% prior (revised from -1.0%). The US ISM Services PMI came in better at 54.5 vs. 52.5 expected and 52.7 prior. The Eurozone Q2 final GDP reading came in worse at 0.1% vs. 0.3% expected as the previous estimate was revised to 0.1%. The US jobless claims came in better across the board: Initial claims came in better at 216K vs. 234K expected and 228K prior. Continuing claims came in better at 1679K vs. 1715K expected and 1725K prior. Japan's July average cash earnings growth came in worse, which is some concern for the Japanese economy. Average cash earnings Y/Y came in worse at 1.3% vs. 2.3% prior. Real wages Y/Y came in at -2.5%. Household spending came in worse at -5.00% vs. -4.2% prior. The Japanese final Q2 GDP came in worse across the board: Japan's Q2 GDP came in worse at 1.2% vs. 1.3% expected and 0.8% prior (revised from 1.5%). GDP growth annualised came in worse at 4.8% vs. 5.5% expected and 3.2% prior (revised from 6%). The Canadian Jobs Report came in better across the board: Employment change came in better at 39.9K vs. 20.0K expected and -6.4K prior. Full-time came in better at 32.2K vs. 1.7K prior. Part-time came in better at 7.8K vs. -8.1K prior. Technicals Due to the very strong data out of the US this week, the US dollar strengthened against its major counterparts. AUDUSD 1W Chart AUDUSD tested the 2023 low at 0.63646 and went below it by a few pips, but there was a lack of momentum to take it further down. The market is currently holding near the new low and is still nearing its 2022 low at 0.61702. A hold at this area, and there is still a possibility of a possible retest of the triangle trendline support break. USDJPY 1W Chart Another strong week for USDJPY, as the pair is now comfortably above the 147 handle. The psychological resistance level of 150 looks to be the next big target level. EURUSD 1W Chart EURUSD has continued to head downwards after the support break of the rising wedge. The market has now reached the 1.07000 area and had a small bounce just above the 1.69750 area. The demand zone is around the 1.05000–1.05050 area. GBPUSD 1W Chart GBPUSD is continuing to look bearish since the ascending channel break. The market looks to be in a retracement wave; there is a demand zone around the 1.22750–1.23000 area. The key focus for the upcoming trading week will be: Tuesday: UK Labour Market Report, German ZEW Wednesday: Japan PPI, UK GDP, US CPI Thursday: Australia's Labour Market Report, ECB Policy Decision, US Jobless Claims, US PPI, US Retail Sales Friday: NZ Manufacturing PMI, Eurozone Wages Data, US University of Michigan Consumer Sentiment We will be back with another Forex Weekly Recap report next week. Best of luck for the upcoming trading week ahead. Trade safely and responsibly. BluetonaFX
by BluetonaFX
2
8/3: Daily Recap, Outlook, and Trading PlanRecap The last newsletter discussed the potential for bearish seasonality in August for SPX. This was timely as volatility was unleashed shortly after the newsletter was sent out. The catalyst for the volatility and selling was the US credit downgrade, which triggered a loss of critical multi-day support. This led to the most eventful evening session of 2023, followed by more daytime volatility. Markets Overnight 🌏 Asia: Mostly down 🌍 Europe: Down 🌎 US Index Futures: Down a bit 🛢 Crude Oil: Up 💵 Dollar: Down slightly 🧐 Yields: Up strongly 🔮 Crypto: Down World Headlines The timing and reasoning of the Fitch Treasuries downgrade is being questioned, limiting the downside which was much worse when S&P Global downgraded 11 years ago. Key Structures The core pattern containing the entire consolidation since the July 19th high was a broadening formation, also called a megaphone. This pattern broke down yesterday and will need to reclaim support to trigger any sustained squeeze upward. The next major support down below 4553 is 4508-15. This is the support of the large, purple ascending triangle structure we broke out on July 12th. Support Levels Supports are: 4531-33 (major), 4527, 4516 (major), 4509 (major), 4497-93 (major), 4486, 4475, 4467, 4455 (major), 4441-46 (major), 4431, 4424 (major). Resistance Levels Resistances are: 4543, 4531-33, 4551-53 (major), 4560, 4565, 4575 (major), 4584 (major), 4592, 4599,4606-08 (major), 4613, 4620, 4624-26 (major), 4634, 4644, 4653, 4666-70 (major). Trading Plan For the bull case today, there is no short-term bull case until a resistance reclaims. For now, this is 4551-53 and reclaim there would trigger back to 4575, likely dip there, then probably back to 4605. The bear case today begins on the fail of 4531. One could short this 4527 or so with target of 4509-16. Wrap Up These are level to level traders markets and they are prime conditions. The focus will be on reacting to the action and not making predictions. If a prediction had to be made, it would be a backtest of 4553, perhaps a sell to 4509-16, then a rally from there. Disclosure: This is not financial advice and is for informational purposes only. Please consult a professional financial advisor before making any investment decisions.
CME_MINI:ES1!
by spytradingpro
8/2: Daily Recap, Outlook, and Trading PlanRecap After the ES rallied and trended cleanly for +390 points from June to mid-July, the last two weeks have been characterized by a grinding summer chop. Despite testing the 4609 level six times in the last week with two failed breakouts, the ES has remained stubbornly resistant. Markets Overnight 🌏 Asia: Down 🌍 Europe: Down 🌎 US Index Futures: Down a lot 🛢 Crude Oil: Up 💵 Dollar: Up slightly 🧐 Yields: Up 🔮 Crypto: Down World Headlines United States government debt loses it’s AAA rating as Fitch downgrades US Treasuries from AAA- to AA+ Key Structures The core pattern containing the entire consolidation since the July 19th high is now a broadening formation. This structure, called a “right angled, ascending broadening formation”, has support roughly at 4560 and resistance roughly at 4660. Support Levels The major support levels are at 4599, 4592-89, 4570-73, 4562, 4548-50, 4493-88, 4445-50, 4410-15 and 4403. Resistance Levels Resistance levels are at 4608, 4614, 4618, 4623-26, 4648-4652, 4661, 4682-88, 4706-08, 4717, 4726, 4736, 4750 and 4760-65. Trading Plan Given the current unpredictable chop, trading will be done very seldomly. If we do get some upside today, 4623-26 is considered strong and likely has one final sell off before any breakout. The bear case would begin on the fail of 4592-89. Wrap Up We remain in a period of low predictability chop and the focus will be on executing the above trade plan. If 4589 fails, it's short to 4570-73, bounce, then probably lower down to 4550. Disclosure: This is not financial advice and is for informational purposes only. Please consult a professional financial advisor before making any investment decisions.
CME_MINI:ES1!
by spytradingpro
6/1: Daily Recap, Outlook, and Trading PlanRecap Over the past few weeks, a pattern has emerged where Thursdays and Fridays see a violent squeeze, followed by a "hangover" state in the first few days of the next week. Both last week and this week so far have followed this pattern. We are currently in the sub-4200 congestion zone after yesterday's dip, having retraced about 60% of last week's rally. The Markets 🌏 Asia: Mixed 🌍 Europe: Up 🌎 US Index Futures: Up slightly 🛢 Crude Oil: Up slightly 💵 Dollar: Down 🧐 Yields: Down 🔮 Crypto: Down a bit Trading Plan 💪 4193 - 4185 is support 📈 Next minor is 4212, then 4221 📉 Pullback if 4185 fails is 4167, then 4145 Key Structures The purple triangle backtest has a support level of 4147 and a resistance level of 4190. Resistance is now around 4221 on the small white channel. A new leg up to break the weekly high would begin if this area could be reclaimed. Support Levels 4193 (major), 4185-88, 4176, 4167-70, 4160, 4146, 4137, 4125-28, 4112-15, 4099 (major), 4084, 4070-75, 4062, 4048 (major), 4036, 4030 (major) Resistance Levels 4200-05 (major), 4213, 4221, 4230, 4240-43 (major), 4247, 4263, 4274 Trading Plan Expect a more complex trading session today, with possibilities for both long and short setups. The 4190 triangle level was reclaimed at around 4194, offering some long exposure opportunities. However, trading in the 4185-90 zone requires skill and a strong real-time sense of action due to its messy and well-tested nature. An alternative is to test around 4185, then spike back up to 4192 for an entry. Potential knife catch long locations include the 4160 and 4146 levels if there is a leg down. Wrap Up Yesterday's session was complex and future sessions are likely to follow suit. After the easy trend last week, it's time to be strategic. Focus on reacting, with a loose lean as follows: as long as 4193-85 holds, a push back to 4213 and 4221, followed by another dip, is possible. If 4185 fails, a correction may be needed, possibly down to 4160. Disclosure: This is not financial advice and is for informational purposes only. Please consult a professional financial advisor before making any investment decisions.
CME_MINI:ES1!
by spytradingpro
EURUSD ANALYSIS/MARKET REPORTOANDA:EURUSD Looking at EURUSD as it is currently on the 4HR timeframe, no doubt we've been on a long paused of price continuing the uptrend that started on 14th Jul where we seeing price on a wide consolidation between 1.0097 - 1.0275. However, price can't range forever which has brought the report to us from our analysis that: we may continue to see further rise in price action breaking out of the range to hit our zone spotted around 1.0347 - 1.0407 as at the time of this analysis, then we have possibility of price falling drastically from the zone as we believe its a strong price level price action may choose to respond to in continuing the Downtrend we've been playing on the Daily Timeframe. ADVICE FOR TRADERS For Intraday traders looking for trades opportunity in the currently situation in the market, we'd strongly advice to wait on the spot of price reversal to a structure level looking down at either 1hr or 30mins to spot LONG position as price pushes to our strong reversal level. Also, swing traders may wait on price getting to our strong reversal level to hold SHORT positions as price falls.
by Ahmed_Loyal
Cryptocurrency Market And Bitcoin Monthly Extreme RetrospectiveA new monthly market close happened and now it is important to tell you what can happen in the coming months with the cryptocurrency market. We already advance you will not be extremely positive, but at least through us you will know the absolute truth that some work teams hide from you. Low Volumen Capital Are Coming The closing of the month had the lowest capital inflow volume than the previous months. According to coinmarketcap.com we are starting with less than a total market capitalization of approximately $201.5 Billion dollars. That means more money is coming out of what is coming. Without demerit that the last volume recorded in the last 24 hours was $62.9 billion. Extreme Panic Feeling In addition, the fact that after the last sale of future contracts made by financial institutions, the market went into a panic and most sentimental indicators point to capital outflow. At this time in the market, most researchers are not confident with the game of the institutions that we had referenced in our latest conspiracy theory. The Card Game Continues The saddest thing of all, is that the games to find the perfect checkmate to the king will continue in the coming months. The purchase and sale of future contracts by the big players will continue. That is why before the Bitcoin halving we must be attentive to the next monthly closures of the market. Therefore, we cannot forget that the game changed. It is no longer just Altseason, also the futures market with each passing day takes more strength. Elliot Waves Are Hard To Tell Sometimes we have criticized Elliott’s theory. But this time, we must use it to alert that we are really on a corrective wave for the market in general and mainly for Bitcoin.We still don’t know exactly how far the price will go. For now, and when this article was written, the price of Bitcoin was negotiated around $7320. But seeing the monthly market close, the price on the last candle made a fairly long shadow that crossed to the EMA21 on the monthly chart, very close to $6320. At this point we have two theories: (1) the price can make a pullback to return very close to $ 9210; (2) or close very close to the EMA50, close to $5050, breaking one of the main high trend lines, which we theoretically believe that the price will come after the next sale of future contracts. But don’t feel scared. If our calculations are not badly done we are in a C wave according to Elliott’s theory and next year 2020 we will have the beginning of a large shock wave that we know will start after halving. Real Fibonacci Retracement Bitcoin starts a new month below 60% (Fibonacci gold line) of the Fibonacci retraction. With that we conclude that we are really still months of price correction and that everything can happen in reference to highs and lows. Once again we have to tell you that the graphics do not lie and therefore it is important to learn that this game is not just a matter of price and feeling. Gann’s Projection That Makes Us Feel Safe While Elliott and Fibonacci keep us in a climate of extreme fear, Gann shows us that we are in a very important support with the price around $7350 and that in the coming months we will be able to have a re-accumulation. Remember that applying Gann’s theory we can see exactly the supports, resistances, points of interaction and the main lines of high trend and the main lines of low trend. If we look closely, Bitcoin closed at a very important interception point for the market. Spatial Geometry That Shows The Truth It is evident now that, and using a bit of mathematical geometry, we have a Cypher Pattern in the monthly chart and that although many people want a new bullrun this year, we will really have to wait for the price correction to end. The squares in the graph mean periods of re-accumulation and price lateralization. So if you want to know the exact date of the start of the next bullrun, we will say that it will be after the close of the second period of the year 2020. A future Of Hope For now we hope that the price of Bitcoin in the month of December will return very close to $ 10,000, and then follow the downward trend that is clear with Elliott’s theory. For this scenario then we have some points that we must highlight and that will be the probability of the beginning of the next Elliott wave: (a) the price returns very close to $10,000, with a sales sequence with closing to the EMA21; (b) the sale of future contracts can continue, the trading volume can continue to fall and the price of Bitcoin can close very close to the EMA50 around $5050; and (c) follow the downward trend in the traced retraction channel and start the new Elliott wave very close to $5950. On the side of the main indicators, MACD will have in the coming months a crossing móvil average and with RSI pointing 52 points, we can say that we are in a period of calm and leaving the few of the oversold area. See the next story. With Love, Rubikators Team. Read More Here www.publish0x.com Join us in Telegram t.me
BITSTAMP:BTCUSD
by rubikavinsider
TESCO SHARES TO ROCKET TOMORROW?Hi fellow traders! Tesco really has to potential to move either side tomorrow! Hopefully to the upside however, considering its sale growth, over past consecutive quarters. Tomorrow, Tesco PLC are going to be releasing their full year results tomorrow (10th April 2019). This could give the potential for this stock to spike upwards. Investors will be keen to see if Tesco has held onto its constant quarterly sales growth amongst fierce, competitive market conditions. Although Tesco (the UK's largest supermarket) has been losing its market share in the UK to German discount supermarkets, such as Lidl and Aldi where it has had its market share drop 0.2% to 27.4%, and Asda (2nd largest supermarket in the UK) plans on merging with Sainsbury's (3rd largest supermarket in the UK), Tesco has had its sales rise by 0.5% in the 3 months to March 24 2019. This paves the way for investors to potentially have confidence in the brand, as it has seen a rise in sales and the Asda and Sainsbury's merger has not been confirmed by the UK's Competition and Markets Authority. This means the potential future loss of market share by Tesco should not impact its share price tomorrow hopefully. One of the other main issues Tesco faces however is the question of why management chose to cut up to 9000 jobs, closing fresh food counters, but this should not be as interesting as hearing nice rises in sales and profits! Moreover, Tesco acquisition of Booker Group, a wholesaler in the UK has been going well and should have increased their purchasing power in the market, giving them the opportunity to raise their profit margins or reduce prices and have higher sales from this, as they are able to benefit from bulk-buying. It has also entered a buying agreement with Carrefour, a French supermarket group. This should look to help the group financially and increase its dominance of its brand worldwide if the transaction goes through, another potential positive outlook for investors. From the results in October 2018 for quarterly results, Tesco's CEO claimed they were on track to deliver their medium-term ambitions set in October 2016 which were to: - reduce costs by £1.5 billion - generate £9 billion from operations from retail - improve Tesco group's operating margins to 3.5%-4% by 2019-2020 Also, if tomorrow's talks with regards to Brexit is positive and there is a reduced chance for a No Deal Brexit as Theresa May obtains an extension, this should look to benefit the LSE, placing hope in investors for any potential financial turmoil for the UK. This should also let investors realise that Tesco and other supermarkets are not at risk of any major political/financial issues. If these targets are closer to being fulfilled, this should easily let the share price rise. Note: The red regions signify resistance regions, and the green, support regions. I would look for this stock to rise in value. My targets are as follows: TP1: AROUND 238.00 TP2: AROUND 240.00 TP3: AROUND 244.00 Additionally, looking at this stock from a technical perspective, an ascending triangle has been forming (as drawn on the chart), paving the way for a breakout and some positive price action! Unfortunately, if the report tomorrow is not well for Tesco, it could look to drop to the following regions: TP1: AROUND 228.00-229.00 TP2: AROUND 223.00 TP3: AROUND 216.00-218.00 Finger's crossed I am right tomorrow! If you read it to all the way down here, thanks for showing some support to this article! Tell me where you think Tesco will be heading next! Comment below all your ideas about the future of Tesco! Buy or Sell and why? Additionally, drop me your charts/ideas for it, that'd be great so I can see where you are coming from. I'm a new guy to the FX, Stocks & Crypto market, and I'd appreciate any help people may offer! Please drop a follow/like! I need reputation points!
LSE:TSCOLong
by TheFinancialTRDR