The Bank of England has raised rates again to 0.25%- that’s a hike of 15bps. This could be a bullish indicator for bears on GBP, and it’s possible that the earlier months of 2022 may bring a rise to the upside against EUR and JPY.
We are liking what we are seeing on the DXY. Today price pulled back, giving us the opportunity to start looking for longs to go to our level. We will be expecting price to trade above ( members only ) between tomorrow and Wednesday. If price closes above this level, then we will see a strong move to our original target of ( members only ).
For EURUSD, we are expecting price to trade lower this week. Our target still remains ( members only ), and price is currently at a decent level for a sell, which we will be looking for tomorrow.
Turning to GBPUSD, the COT report showed us that price on GBP should be heading lower this week. Our target still remains ( members only ), and we will be looking for a sell on this pair going into tomorrow targeting ( members only ). You can also target ( members only ) as price has potential to reach that level.
For AUDUSD, the COT did not confirm our bullishness, so we will not be looking to buy or sell for the moment. However, we will use the strength of AUD to continue buying AUDCAD. We are also monitoring GBPAUD for a sell later this week., so keep an eye on these two pairs for trade opportunities.
NZD didn’t give us what we were expecting to see, much like AUD. So, we will be using the strength to trade NZDCAD while we monitor GBPNZD.
After a full analysis on EURGBP over the weekend, we believe price is currently at a junction where it can go either way. Our Smart Money Trader provided a full explanation during the live session today, so if you didn’t catch the live session, be sure to check out the replay in the past live session section for the reason why it can go both sides.
USOIL reached our target of ( members only ) today, and we think price will consolidate and then move lower again. If price does start moving lower, then we will be looking for the ( members only ) price level.
We are still bullish on GOLD. We confirmed a swing low on Friday, and moving forward we will keep looking for longs on Gold. Our targets on the upside are ( members only ) as the first target, ( members only ) as the second target, with a last target of ( members only ).
BTC continues to be heavy and we expect further drop. Our target is ( members only ), and once that target is reached, price might give us a bounce and then reach for ( members only ).
To those following our crypto moves, we’ve taken a levered long trade on LUNA, as it has broken out with momentum to the upside. We are targeting ( members only ), but we may close early depending on the price action. With negative funding rates, we believe it will squeeze further to trap sellers on the downside. With BTC and MATIC, we are still holding spot long positions and monitoring closely.
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