I took all twits of Elon Musk and placed them on the chart. It's amazing how influential he is for the bitcoin market. He boosted the price multiple times, he disappointed traders later by saying that TESLA suspended payments in Bitcoin and he basically saved bitcoin from falling below 30K. So, is it love or hate relationship?
If you would like to get a more...
The US Dollar still has a momentum behind with potential to reach 1.1700. I think we might have a strong support at 1.17, so fixing your profits before 1.1710 or 1.1715 would be reasonable.
Only short positions should be considered given the current strength of the dollar.
More explanations in the video.
After a stunning job report on Friday, the USD has further potential to gain more ground. Given the weakness in commodities, I would advise selling any upticks with TP @1.1720. EURUSD can find some support @1.17 where we have a low from March 2021.
#EURUSD forecast on August 5, 2021. A strong reversal in the US dollar yesterday following the ISM services index that came out at 64.1. We may see further appreciation of the buck today and tomorrow especially if we have strong numbers in the job report. You can see my trade setup on the video.
The NZD is the strongest currency today boosted by a stunning job report. With 3 interest rate hike expected till the end of 2021, the NZD can outperform all other currencies in the market. I like setups when we have a strong fundamental tailwind and signals from the technical charts. I bought NZDUSD and I expect it to test 0.7090. We can further expect a breakout...
There is a short-term potential to break out the triangle formation on the 1H chart. I think the upward movement could be limited up to 1.1900-1.1920. I still see this as a correction of the bearish trend.
Please note that this is a risky position. So, staying flat is probably the best!
EURUSD is trading sideways ahead of FOMC and the Euto is hovering just above 1.1755 supported by a trend line stretching from Sept 2020. The technical picture looks rather bearish. If 1.1755 breaks, this opens the way to the daily support level @1.17 and further to 1.16. However, there is nothing huge expected from the FED today as they might reiterate that "the...
High volatility of the Forex market brings traders back. What would be my advice to them?
Stay away from the market.
The economic damage is unknown
Helicopter money and bazooka bond buying can have unexpected effect
Technical levels are broken
No interest rate advantage for the $US dollar
How to trade now?
Don't trade. But if you are still...
