All BTCUSD targets were reached yesterday, right down to our lowest target. In addition, USOIL also hit our targets from yesterday.
Yesterdays, FOMC minutes seemed hawkish but didn’t do much to move price out of range, as the big magnet is the NFP tomorrow. Momentum and trend dynamics are on the side of the DXY.
DXY is still stuck in a tight consolidation range on the 4H timeframe, but because of the NFP on Friday, bias is still to the upside. Hold off on anything for today on the dollar pairs until after NFP.
Same with EURUSD, just the opposite of the dollar. If you wanted to do anything, you can look at the breaker on 15M for gap at ( members only )… the range still remains. There is more emphasis on a drop, and only after it will go back to the upside of ( members only ).
We are staying out of GBPUSD as it has a mind of its own at the moment. If anything, the most obvious pair is EURUSD.
For AUDUSD, we are staying out at this time, although we did identify a MMSM trigger. For today it is better to look at the NZDUSD pair.
NZDUSD is bearish to attack the ( members only ) area, and based on a 4H accumulation identifier we expect a run to the downside. You can check the breaker and gap on the 1H.
Price for EURGBP is also steady in consolidation. It is better to sit on your hands and wait to see what DXY will do, as it will affect GBP and EUR. In the long term, we are looking for a bullish closure above the ( members only ) area and then we will go long to ( members only ). For now we are focusing on short term scalps, with no long term directions yet. Trade breakers, run stops on 5M on this pair if you want to do anything.
USOIL reached our targets from yesterdays equal high, so if you were following along you could have hit both imbalances. If you see it pulling back, our next objective is to the upside at ( members only ) and you can leave a bit more room to get above ( members only ) as we had a swing low on the Monthly. Make sure to move your SL to break even on each push.
In GOLD, price did not go in our direction, but we identified the MMSM and made sure to exit our bullish positions as taught. We are seeing a short reversal here, and price should now go back to ( members only ) (based on a short time low being broken), and then would keep going to the ( members only ) level.
BTCUSD targets were hit at ALL of our levels yesterday, with BTCUSD targets achieved all the way down to our lowest low prediction. ( members only ) is the next downside objective, and if price goes for that we could bounce but still run down to a target of ( members only ).
Tomorrows NFP is the talk of the town and we are right there, as prices are indecisive and leveraged on DXY breaking out of its range. All eyes on tomorrow.
Delving deeper into crypto, yesterday’s heavy selling in the market took us down to key levels in price with no signs of a bounce from buyers. This is cause for concern, and makes us think that we may have another day of a down movement. This may be due to macro economic factors, such as the rate risk from the Fed, issues in Russia, and the equities market selling off. In these environments, huge volatile moves of 20% to 30% are not impossible. Some key levels we should mark out in BTC are ( members only )
Other key altcoin assets to keep an eye on are: $SUSHI, $CRV, $FTM, $SOL, $LUNA, $AVAX, $MATIC, $ATOM, and $ONE as well. If these assets drop another 20% or more today, it could be a good opportunity to load up your bags. Of course, this is not finance advice.
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