The Dollar is holding it reign, as over $2.5 billion in crypto liquidated ahead of executive testimony from eight major crypto currency firms on December 8th. This was a first of its kind before the US House Financial Services Committee.
We remain bullish for the DXY as long as we don’t breach the 95.496 area. Although the market is slow, we still expect our target of 97.805.
EURUSD is being held in consolidation to allow GBP to drop, but we will still look for EURUSD to drop next week to ( members area ) level.
With GBPUSD, we still have our sell going. This week we will expect price to at least get to our first take profit. Fundamentals were also showing bearishness, so expect lower prices on GBPUSD.
Turning to AUDUSD, price got to the target that we were looking for. AUD might move into a consolidation allowing AUDUSD to push higher to ( members area ).
NZDUSD moved out from the consolidation and heading lower as we expecting. We currently don’t have any position on this. But expect it to drop to ( members area ).
For EURGBP, our Target remains ( members area ). We will look to find an entry Tuesday or Wednesday.
USOIL reached the 63.90 level today., and our next level is ( members area ). We going to monitor price closely as there might be a retracement.
Gold is now in accumulation phase. Usually Gold forms a low in December, so we are cautious of shorts. We will be anticipating a break in structure to go long by mid December.
Even though BTCUSD reached our downside objective, we still remain bearish. We will monitor price until Wednesday to see what it wants to move to next.
Later this week for DXY, we are getting Crude Oil Inventories and will be watching for fresh CPI data on Friday.
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