Hello dear traders,
Let's keep it simple.
Summary & trading plan:
- We perfectly called for 10450 dollars XBTUSD zone failure to hold, and we saw a strong bearish move as anticipated yesterday in our idea, targeting low 10k.
- Bitcoin is now sat on the edge of a Daily Cliff and we can see very low targets if it triggers. Please, read the detailed analysis for...
MANY of the major currencies are close to breaking their floors.
They have no real support after this collapse...
This makes the USD incredibly stong (NOT a good thing)
Only do to the fact that it is the global reserve and every other currency is in free fall...
BE CAREFULL, BE PROFITABLE!
We have been in and out of Cliffs for a while.
Recently, the stock again popped up on our scanner.
Cliffs is the oldest iron ore company founded in 1847
We did hear a rumor of a possible buyout / merger and even the potential for the company to go Private. If either of these rumors pan out, we think the stock is worth at minimum, $20 all day long!
USDJPY continues its waterfall from 113s and is below 3 major supports. Next level is 109.5x, likely moving daily RSI into oversold ranges. I would not long until it moves out of the clearly marked down-trend (light blue) that has held consistently since 114s.
Current target is 108x. But honestly, I wouldn't mind if it just cliffed itself back to the 80s like it...