ADA (Cardano) has stabilised above the fibonacci golden pocket zone (between 50-61.8% retracement. Technically the pair is holding support, which also lies around the significant $2.000 mark. We anticipate upside out of this zone into fibo extension around $3.600.
ADA is set to release smart contracts late Q4 – early Q1 2022.
XAUUSD has enjoyed trading above the 1700 figure for a considerable amount of time. I anticipate price will move back into the 1500's.
Price has similar price action.
The daily moving averages remain in a bearish cross.
Commercial shorts on gold futures are aimed to weigh the precious metal down, as manufacturers look for cheaper gold prices.
USDCHF is forming a wedge after a 6 month long bear market. The 50 and 200 day moving averages have now given a bullish cross and upside looks promising as the US has had a strong economic recovery from Covid19.
Earlier this year Japara health care (JHC, bottom chart) had a take over bid, pushing the stock to higher prices, outperforming REG. The stock is typically highly correlated, and with the deviation from the mean I'm looking for a return back to the mean. I will be going long REG and potentially taking a short on JHC for a reversion.
ETHEUR is holding strong above the 200 day moving average, around the 61.8% fibo level. The pair is still bullish and with Bitcoin still being adopted by the mainstream masses the crypto market is set to boom.