Uncharted-FX

Uncharted-FX

Let us face it. A lot of volume in Bitcoin and cryptos was Chinese money. Why? In China, to be a retail trader you need government approval. However, since the crypto markets are decentralized, Chinese retail traders could open retail trading accounts without needing government approval. Hence the large Chinese volume. They say in the big Bitcoin run up to 20k,...

Uncharted-FX

I have had this Fib on Bitcoin ever since we failed to create a higher low at 10580, with price creating a double top at around 13210. The move from there, down to 9080 seems to be the beginning of a downtrend, which requires multiple waves. The first target would be 8079, which also coincides with a flip zone (zone where price has been both support and...

Uncharted-FX

I think it is widely known that governments want to issue a digital currency. In fact, once the next crisis occurs, credit will freeze and people will not have access to their money. Enter the government. They introduce a digital currency and people will accept it because they will be angry demanding access to their money. Government can also use the "bank run"...

Uncharted-FX

So besides the deteriorating economic data (use PMI not CPI- CPI is what has already happened akin to looking at the rear view mirror in a car. PMI is looking at what IS coming akin to looking through the windshield in a car), what is another signal that a recession is coming? The yield curve and how people would rather hold money in the short term rather than the...

Uncharted-FX

So we are approaching the 31st of July, a day the US Federal Reserve is expected to cut rates. The market has already priced in a 25 basis point cut. In this post I want to discuss why the US Dollar will remain buoyed, and likely break out higher, even though the Fed cuts rates. Also why a stronger dollar exacerbates all the problems in the world. If you follow...

Uncharted-FX

The Nikkei is showing a potential head and shoulders pattern on the 2 hour chart. If we do break below the support at 21620, then we would await for a lower high which would be a retest of the break. However, ideally, would like to see a bounce and then a lower high which would make the head and shoulders pattern. Price is turning at a resistance zone (21800)...

Uncharted-FX

The Euro is getting a bounce after what the ECB has said (more stimulus, cutting rates further negative) was already priced into the markets. We have a nice EURCAD set up which may even provide an entry for next week. First of all, we had a fake out candle already. Price tried to break below the 1.4615 level, and reversed producing a large fake out wick. This is...

Uncharted-FX

There is a possibility of a USDCAD short here. I must preface, I do like USDCAD long on the 4 hour chart ONLY if we break the resistance zone at 1.3150. We are failing to do so which is why this 2 hour short set up has some traction. We have rejected this resistance zone, and on the current candle, we are clearly seeing where the sellers are indicated by the long...

Uncharted-FX

The French CAC40 has struggled to break above the resistance zone into all time new highs. The ECB has promised cutting rates further negative and more stimulus...we shall wait to see the developments, but so far the markets have already priced that in and sold off today after the announcement. The CAC40 on the 4 hour shows 2/3 market trends. We had an uptrend...

Uncharted-FX

NZDCAD had a nice uptrend with multiple waves, and then we hit the 0.8880 resistance/flip zone. From here price began to stop making higher lows, and we created a head and shoulders indicating a reversal. The 2 hour chart shows this head and shoulders much clearer. We came back to retest the neckline which could also be out first lower high in this new downtrend....

Uncharted-FX

EURAUD had a downtrend which reached a big support/flip zone at the 1.5900 zone. From here, we began to bottom, almost ranging and created what could be considered a triple bottom. We had a nice push above the near term resistance/flip zone with a nice strong green candle. After the break, we did not gain momentum. However, the recent close broke above these 4...

Uncharted-FX

We have had a recent downtrend to the 13400 zone where it looked like we could see an inverse head and shoulders to the downside. However, we failed to break below. Now we are attempting to create a head and shoulders pattern to the upside. Waiting for a break above 13700 with a nice close. Equities seem to be ready to get a boost from world central markets with...

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GBP pairs showing some strength with Boris Johnson taking over from Theresa May. If you go to the daily chart, you can see price reached the important support zone of 134.00. On the 4 hour you can clearly see the downtrend with the multiple waves of lower highs and lower lows. However, price is beginning to reverse and we have our first higher low at the 134.50...

Uncharted-FX

Oil on the Daily chart bounced at a major flip zone around the 52.00 zone, from here, we hit the 60.00 zone, a big resistance/flip zone. We rejected this zone and even broke below the previous swing, a higher low around the 56.20 zone. This means we are likely continue the down trend, which is defined my multiple swings. Price bounced and rejected the 38.2...

Uncharted-FX

We got the break of the 1.9790 zone, after a large fake out candle with a large wick took out stops. Currently we are retesting this zone. If the retest is successful, we will form a new lower high swing which will then confirm a new downtrend with a lower low. Targeting the two highlight areas to the downside.