Zanzibar_Trading

Zanzibar_Trading

🔹The DXY chart above shows the US-German 10-year bond spread, an important metric which typically guides the pair. 🔸The interest rate differential suggests the dollar is overvalued or the euro is undervalued as the last time the bond spread was 1.87% the index traded at the 102.25. The price at the time of writing is 105.75. 🔹There is scope for the dollar to...

Zanzibar_Trading

🔸"Bitcoin price just bottomed at $54,000" is that true? let's find out. 🔹The Bitcoin Dominance has been inside a triangle pattern since April 15. Both sides of the pattern has been hit 3 times and the support line of the tri angle is protected by the 200 MA. 🔸A breakout above the pattern could send it to 56.43%, 57.21% and 58.36%. At the same time A bullish...

Zanzibar_Trading

🔹The French election resulted in a surprise with the left-wing New Popular Front gaining the most seats in the National Assembly. 🔸This has led to a hung parliament, creating potential governance challenges for Macron's party. French financial markets are slightly lower as traders await details on the new government. 🔹French borrowing costs are expected to rise...

Zanzibar_Trading

🔸Ripple price is currently sitting at $0.4329, the lowest it's been in the last 3 months, the pair fell below the triangle pattern from $0.6135 to $0.4206, a 30% drop compare to Bitcoin's 16% rise during the same period. 🔹Much of the bearish momentum was in the result of The SEC rejecting Ripple's request to reconsider the $2 billion penalty, maintaining...

Zanzibar_Trading

🔹The USDJPY pair is currently trading at 161.300, experiencing quiet low amount of volatility. 🔸Despite the low volatility, a Japanese official intervention is possible if prices break higher. Retail trader data indicates 21.98% of traders are net-long, with a short-to-long ratio of 3.55 to 1. 🔹The contrarian view to crowd sentiment suggests USD/JPY prices may...

Zanzibar_Trading

🔹After a volatile week for the Pound in the aftermath of the UK general election, the pair jumped from 1.261 to 1.283, 1.8% increase in one week. 🔸UK inflation reached the BoE's 2% target in May for the first time in nearly three years. Core inflation fell from 3.9% to 3.5%, and services inflation fell from 5.9% to 5.7%, still high for the BoE. 🔹BoE may wait for...

Zanzibar_Trading

🔹Over the last week BINANCE:SOLUSDT price has increased by 20%, pushing the price above the 200 MA ($137.98). Surge in SOL's price is linked to excitement over potential spot Solana ETFs. 🔸VanEck and 21Shares submitted applications for spot Solana ETFs to the SEC. SEC has 240 days to decide on the spot Solana ETF applications. 🔹Analysis of DApps and on-chain...

Zanzibar_Trading

The BINANCE:BNBUSDT pair experienced a fall in price from $580 to $455 between July 3 and July 5, a 20% decrease in price following the Mt. Gox releasing $9 billion worth of BTC resulting in over $100M of leveraged positions getting liquidated. The bears pushed the price into the oversold territory which is the reason for the price rebound to $530. If the 200...