Dollar safe haven is activated.
We remain bullish as DXY price only retraced back to the 95.800 zone as was expected, we aim for continuation to 97.813.
EURUSD is rejecting from Nov 20th bearish order block, so we expect price to keep sliding down at least to the 1.11874 low. We can look for potential sell ideas, but be aware that it looks like price may try to accumulate here and pull out of the down trend. If you look at the weekly chart you will see the 1.11694 area of accumulation. Don’t expect any big continuation to the downside.
GBPUSD remains bearish and we are holding on to the 1.32000 as the downside objective.
AUDUSD should remain sideways for now just to allow AUDNZD to continue higher. We will not be trading on this pair and instead focusing on NZDUSD.
EURGBP continuation to the upside 0.85253, we marked zones for you to copy that are available on the live session chart.
With NZDUSD we went down to the 0.68062 level and remain bearish targeting the 0.67856 – 0.67698 area.
USOIL might drop back down to 67.05. If it does, then 61.55 looks like a good bear target (keep in mind Oil goes back down every October). We are going to make sure that USOIL doesn’t breach the 74.19 high, a good stop loss zone if you are also bearish.
We are bearish on Gold, and expect the 1769 area in a bearish continuation. We have some imbalance zones that can be filled at the 1743 level as well!
Smart Money is expecting another BTCUSD drop to 52788.26 and target the 50469 – 49548 range of previous accumulation. Similar to Smart Money’s analysis on how Ethereum traded into a downside order block, so we are seeing price heading to at least the 3912 area, and then take out 3750 (these are areas of accumulation). We can then assess to see if price wants to rally back up or not.
In the world of crypto portfolios, there is still no clear sign of direction in the market and we believe it is probably best to stay on the sideline and wait for more data. Overall, we are cautiously bullish and not bearish yet. Last week we decided to take profits on some of our spot position earlier this year. The main goal was to secure some wins and build a larger cash position that we can deploy later, if an opportunity presents itself. Until we see a clearer direction in the market, we’ll be sitting on our hands.
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