GOLD has rewarded bulls by reaching the first targets, and we’ll be watching for it to keep climbing higher for our next upside target. What a nice gift for the holidays!
The DXY stayed in a trading range during the festive period. This is a sign of potential bullishness going into the new year. Seasonally, the DXY goes up during the first quarter. Expect higher prices on DXY to our targets.
We are bearish on EURUSD, because EUR remained in a consolidation during the festive period. We should see a reversal to go lower to the 1.11688 level.
Turning to GBPUSD, we see that the British Pound is within a bearish order block. Looking at the seasonal tendencies, there is a drop that takes place during the month of January. We would see some weakness going into the 31st of December, and we’ll be looking for lower prices on GBP.
For AUDUSD, we may see it stay in a consolidation or be bullish during the month of January. We might see this pair stay strong, so we will not be selling this pair. However, we will use the strength to sell GBPAUD and EURAUD.
Looking at NZDUSD, we find that it might also stay in a consolidation or be bullish during the month of January. We might see this pair stay strong, so we will not be selling this pair. However, we will use the strength to sell GBPNZD and EURNZD.
EURGBP looks like it’s going to attack the liquidity below ( members only ). Once the liquidity has been grabbed, we might see a potential reversal, so look for a sell with target ( members only ).
Checking on USOIL, generally Oil makes a low in January, and then goes up until June. Looking at the current price, we might see it retrace going into the new year. We will be looking for a sell idea tomorrow or Thursday. Keep an eye on the swing low on the hourly chart. If that low breaks down, then look for a sell targeting ( members only ).
We’re still bullish on GOLD, which reached our first objective of ( members only ). We are now looking for the next upside objective of ( members only ).
There was a Santa Claus rally on BTC, but it was not sustained as price was too heavy. We should see price now drop to ( members only ) and ( members only ). Any pullback is subject to a sell.
Several other crypto assets to keep watch on are: ( members only ). These are all good assets to apply dollar cost averaging on during the pullbacks, with the expectation that we will see bullishness in the new year as investors look to buy back into their positions.
Speaking of the new year, we’re hopeful that that the CDC’s changes to isolation time for those testing positive for COVID will bring renewed optimism to the markets in the New Year. While we all watch for what unfolds, please stay safe out there as we prepare to ring in a New Year of profits for everyone!
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