Our BTC buy activated during the live session when our short-term BTCUSD target was achieved. If you’ve been watching and waiting for BTC buy signals, then your patience was rewarded. In other important news, Governor Brainard (who has served the economy under the Administration five Presidents) has been nominated for Vice Chair of the Board of Governors of the Federal Reserve, and is ready to raise interest rates as soon as the asset purchase tapper is completed. He is calling for a baseline of three rate hikes for 2022, with potential to increase up to five. Brainard is also looking to congress to step in and act fast on a Central Bank Digital Currency to stay competitive with the Digital Yuan! Already an action packed morning, with Retail Sales coming in below expected for the DXY and our short-term BTC buy activating!
DXY is still looking bearish. Price may retrace back to the ( members only ) area, and then head back down to ( members only ). We will be looking at the equal high in the ( members only ) area as the next draw on liquidity by the end of the day, but price could still reject and go low. Since its Friday, most profits have been taken off… so we expect a bit of a rebound first. The ( members only ) monthly order block will give us lots of trade ideas on the other currencies in the coming days.
EURUSD also looks like it may reaccumulate, or do a slight pullback, so the next draw on liquidity would be ( members only )
We are waiting for AUDUSD to reach the ( members only ) level and bounce back up to the next order block at the ( members only ) upside. With DXY being bearish, we vote for a higher price on AUDUSD… so you can start looking for buys here.
NZDUSD price failed to touch the imbalance as draw on liquidity. Going into next week, it is removing confidence from buying. Look out for the ( members only ) order block for a continuation to the upside, and take partials at below ( members only ) while we see if price is willing to go higher. We identified a potential trade for next week… full details are in the recorded live session so make sure to tune in to the replay in our past live sessions section of the portal over the weekend!
EURGBP had a draw on buy-side liquidity from yesterday’s levels, and is still in the cards at the ( members only ) range.
USDCAD looks like a pullback draw buy opportunity at ( members only ) and up at ( members only ). Just remember it’s not a reversal (countertrend), so it can reject at anytime. If it gets up to those levels, look for sells to drop back down again to ( members only ) and potentially lower.
USOIL has reached target again at the ( members only ) area identified yesterday. We are neutral now for the end of the week however we explain strategies to apply if price goes either way in the recorded live session. We can still go to ( members only ), and have set the SL parameters in the live session yesterday.
GOLD is in consolidation inside the daily bearish order block right now. We are watching the DXY pullback, which would influence GOLD for a drop. We had a swing high on the H4 timeframe, and price may go down to attack the ( members only ), and maybe even down to the ( members only ) area (we explained the details in the live session).
BTCUSD has rejected at the equilibrium of the range identified. We are in a high resistance state on the Jan 10th order block. Our BTC buy activated at the break of ( members only ) which happened during the live session, so we are taking partials and profits all the up to the premium at the ( members only ) area.
For altcoins, the overall market seems to be getting dragged down by the US stock market’s underperformance. Since it’s Friday and we’re at the end of the trading week heading into weekend, we want to be on the safe side and exit our current open positions into cash. If you wish you stay in, be sure to manage your positions accordingly. As always, this is not financial advice.
Next week is a slower calendar week for the US Dollar, which could potentially steer price back up higher based on news of imminent rate hikes by the Fed. Also, the asset purchase tapering began an eight month tapering in November of 2021, which will be nearing its end by June. We can definitely expect hikes near this time or sooner if the AP tapering is sped up, based on Brainard’s post testimony comments. As your eye on the markets, we will keep a pulse on all of these and keep you informed.
And there’s a ton more of currency, crypto, commodities and other indices left to go over, paid members get to follow along with the trader daily inside our trading portal.
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