EURUSD BROKE GREEN DOTTED SUPPORT LINE FROM 2015 NOV LOW $1.05 . AND CREATED A DOWNTREND RED LINE FROM 2016 MAY HIGH FROM $1.16 Next test fro EURUSD IS SOLID GREEN LINE WHICH WAS CREATED FROM 2015 MARCH LOW @ 1.045
When Bitcoin breaks the GREEN DOTTED LINE & GREEN SOLID LINE Then TIME to SHORT. Next support line is the BLUE solid line around $320 zone.
I struggle to fully understand the connection here, if anything I would have thought the direct correlation between these two assets would exist. Flight to safe haven be it a cryptocurrency or an asset like gold, I would have thought the same fear drives these actions. This chart is contrary to that view / idea, here we have seen a pronounced tracking since...
With this very pronounced strengthening of the dollar, none of the commodities are immune to that, from wheat to palladium. One of the main standard to look for is how gold is reacting, and it is going through some pretty tough times. The question is, what about Bitcoin? ==> Does the money go back into the box and leave speculative investments like Bitcoin is?