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Nofatigue

CRYPTO CRIPPLED?Bitcoin bounces off $25246.29 which is the new resistance. Btc is down -60.74% since march 21th & I currently see it dropping another 100% in the coming months the way the chart is structured currently. Rising US yields are applying a visible downside pressure on the pricing of cryptocurrencies. The latter hints that this alternative asset class may not be immune to the rising interest rates and a tighter monetary policy environment globally. We could see the downside pressure building stronger in the medium run, and cause a bit more bleeding as the Fed walks towards concrete tightening. There is also the fact that higher energy prices make crypto mining more expensive. So that’s also a fundamental reason that prevents Bitcoin from being a safe haven asset in the actual environment.
BITSTAMP:BTCUSDShort
by xavierNF
OMG what happened to Aussie.Analysts at MUFG Bank, point out that hard landing fears and a hawkish Swiss National Bank (SNB) favor further Swiss franc outperformance. According to them, the Swissy should continue to benefit from the SNB’s desire to dampen upside inflation risks both through faster rate hikes and tolerating a stronger currency. “The CHF has been the top performing G10 currency so far this month as it has strengthened sharply against both the EUR (+2.2%) and USD (+1.5%). It has regained upward momentum against our equally-weighted basket of other G10 currencies after a period of consolidation at higher levels between July and August. The CHF’s renewed upward has once again coincided with an abrupt hawkish repricing of SNB rate hike expectations similar to in June.” “Market participants are increasingly confident that the SNB will continue to play catch up with major central banks and deliver a larger 100bps hike in the week ahead (Thurs) to combat upside inflation risks. There are currently 86bps of hikes priced in. The SNB has also become more tolerant of currency strength since their last policy meeting in June as it provides another channel to help dampen upside inflation risks.” “The CHF appears well positioned to extend its recent advance especially against other high beta G10 currencies.”
Short
by xavierNF
5
BOLD GOLD SOLD!Gold has been suffering the last few month due to a very hawkish Fed trying to get inflation under control. Gold topped out on march 8th 2022 & is down -17.6% since then. The US CPI YOY came in yesterday at +8.3% beating expectations of 8.1% , the CPI ex food & energy also beat expectations coming in at +6.3% vs a 6.1% consensus. This fueled a rally in the USD as the market expect a 0.75% bps rate hike or maybe even more, in return Gold an the commodity currencies fell. On the 4HR chart a bear flag has formed, you should wait on a break and close below the bear for possible selling opportunities towards $1622.99-$1600 per OZ a -4.6%- (-6%) move from market current position.
TVC:GOLDShort
by xavierNF
5
KIWI ON SALE!Like I previously mentioned in my other published idea title BOLD GOLD, because of the hawkish fed and raising inflation The USD is stronger than most if not all G7 currencies. As a result commodities & commodity currencies across the board is selling off such as the NZD & AUD, they may be the weakest currencies crossed w the USD. Last week I sold this pair at 0.61875 and took profit at 0.59986 a -3.05% move (-189 pips).This week I reopened a sell position w some of the profits from the trade I closed out last week at 0.60697 and at the present moment market is down -1.24% (-75 pips). My current take profit is 0.58793 ( -190 pips) but the market can definitely pull lower if the USD strength persist as I suspect it will, at least until the next rate decision on the 22nd of this month. If or when NZDUSD breaks & close below the 4 month trend line found on the D1 I can definitely see this pair heading towards 0.57000 a -4.8% (-287 pips) move from market current price. Lastly, in less than 1 hour the USD PPI YOY & PPI ex Food & Energy numbers will be released , the consensus is 8.8% & 7.1% respectively, a surprise higher than a expected number could fuel another USD rally, a lower than expected number can cause a temporary retest. Let me know your thoughts in the comments.
Short
by xavierNF
4
CAD WEEKLY REPORTOANDA:CADJPY Last week we saw CAD move +109 pips & as you can see on the charts i banked +81 pips out of that move. To give you'll some perspective on why i expect more CAD bullish moves in the near term , as we all know the fed is determined to get inflation to average above 2% and low interest rates for the next 3 years. To achieve that a lot more money would bacially be needed to be thrown into the economy , with that said with the stimulus package upon us that would be help the fed with their 3 year plan. So as a result we'd see a lot more bullish moves in CAD along with BTC , OIL , GOLD , SILVER , S&P 500 , just to name a few. On friday CAD erased all of its gains against the JPY forming a beautiful double bottom above my optimal trading zone , which is a good place to reload your bullish positions. I would advise to wait until we get a break & close above 80.000 just above the 100 & 200 SMA before entering. If it goes that way we could see price test the monthly highs around 80.606 , +85 pips or +1.07% from its current price. Let me know what you think in the comments....
Long
by NapoleonHil
4
USD/CNH REPORT!FX:USDCNH USDCNH drops below 6.6917, down 0.39% intraday. China will not only overcome the coronavirus pandemic but will also aim to become the world's largest economy which could be favouring USDCNH bears. ( China's communist party 2020 GDP to exceed 100 TRILLION YUAN) A clear break of the one week old support line could drag USDCNH prices towards the monthly bottom near 6.6275. Meanwhile a 13 day old resistance line at 6.7325 can probe buyers even if they manage to cross previous support, now resistance around 6.7025. let me know what you guys think....
Short
by NapoleonHil
S&P WEEKLY REPORTTVC:SPX Last week we saw S&P slowly declined back towards 3423.0 around my support levels even though we were getting fairly positive news regarding the stimulus package. I think that's because of the uncertainty around it being passed by congress before election, but im very much still bullish on the S&P. It's currently ranging between 3477.7 (Resistance) & 3423.0 ( Support) , in the upcoming week if we could see some progress between nancy pelosi & Mcconnel we could see a breakout of the current consolidative zone to the upside & head back to september monthly highs around 3578.4 which is +124 pips or +3.59% higher than it's current price. Nancy pelosi is set to speak on cnn this afternoon & hopefully she can deliver some positive news to kick start the trading week on a positive note , i'll be watching for any additional information. With that said i'd wait until we could get a daily close above 3477.7 ( Resistance) before entering any long positions . Let me know what you guys think down below in the comment..... I wish you'll a productive trading week.
ULong
by NapoleonHil