Following Fed Powell's speech today, we can understand he talked US treasury bonds and the DXY inflation rate. He remarks on the US economy proposed a move of the inflation rate to the downside, i hope you understand.
Following BTC 20% weekly high, I observed a short term pullback to major resistance level(s). This pullback is required to enable major market momentum to the upside. The retest of key market levels will not only generate the required momentum to the upside, but we will also create entries for retail traders. Let's watch this pair closely.
Dogecoin been on a daily low this week, this is suspicious as we might not be seeing the real deal. With this results in bitcoin hitting major all time highs in the same. The question is if major holders are moving their coins to a more stable coin like bitcoin and ethereum. This might be a short pull back and can also result in new highs due to positive market momentum.
Observing the market carefully you will notice a change in momentum in the Gold Market. The bears are starting to keep in and the momentum shifts to the downside. The positive Us Job claims Data gave the USD some strength, This strength compared with the Gold would not be matched.
A lot of sentiment surround major USDpairs with traders assuming and thinking that the USD pairs will continue riding to the top. Major Data surrounding the market shows that the dollar is on a bearish movement. Lets watch how this pair plays out.
Based on my analysis which is subject to review, i believe there's going to be a continuation in the bearish pattern in the AUD/USD this due to the news that hit the market daily. let's see hpw this pair plays out