The top Crypto executives testified to the US House Financial Services Committee, and warned that imposing strict regulations too fast in the United States could deter innovation, which would move outside the US, leaving us behind. They suggested that the US should become the leader in the blockchain space, adopting as quickly as possible instead of stifling progress.
The Dollar Index price went lower today, but that doesn’t change our bias. In fact, this is good because retail will think dollar has topped and should go lower, without being aware of the high timeframe direction. We might see price rally tomorrow.
With EURUSD, we have remained on the sidelines because price is being held in a consolidation to move EURGBP higher and GBPUSD lower. Once EURUSD and GBPUSD reach their respective levels, EURUSD will then be allowed to drop to the level we have been calling at the { members only } zone.
For GBPUSD, we achieved our first target on our shorts today. We will expect price to continue lower until we see changes on the HTF.
AUDUSD price is trading back to an old low at 0.71752. We will monitor the lower time frame for some potential sell ideas to form after hitting this level. Tomorrow is Thursday, and might form the high of the week and then reject. So let’s keep an eye on the price level 0.71752.
NZDUSD is currently inside a bearish order block, so tomorrow might see price reject and continue to the downside.
On EURGBP, we had a nice buy on this pair today. Price is almost at the level we have been looking for. We expect a big range day tomorrow on this pair to go for our level { members only }.
Price of USOIL is in consolidation after taking out the previous weeks high. We will continue to monitor price on oil to see if we can get a sell idea, possibly for tomorrow.
XAUUSD is still in consolidation, so we will be monitoring for a sell. Usually Gold forms a low in mid December and moves higher into February. We will look for a buy if price shows us that it is moving in that direction. Until then, we still remain bearish.
In crypto, BTCUSD is in a retracement on the daily time frame. We are still bearish, so we will look for a continuation to the downside. For now we should see price reach up to { members only }, so short term longs are allowed.
We have been able to secure some profits on MATIC since yesterday. We will continue our open position today, and will send an update should anything change. As always, feel free to secure profits along the way.
And there’s a ton more of currency, crypto, commodities and other indices left to go over, paid members get to follow along with the trader daily inside our trading portal.
Don’t miss the chance to profit with our community. Get full unrestricted access to all our traders’ daily analysis, trade ideas, and education videos by signing up today!
