TrackRecordTrading

TrackRecordTrading

With last year’s high of 13750 within reach after last week’s run up in BTC/USD, a test of all time highs close to 20000 seems only a matter of time. Fundamentally, with BTC gaining traction among tech companies and old school macro guys such as Paul Tudor Jones, dips in the weeks can only be seen as opportunities especially in an environment of relentless money printing.

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With EUR strength likely to lead to verbal intervention from the ECB, and the direction of the USD being uncertain for now, EUR/SGD could be the way to express the view of SGD and Asian currency outperformance in the weeks ahead. EUR/SGD looks set to break below the daily Ichimoku cloud. If 1.5950 breaks decisively, the move can quickly accelerate to test the lows...

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With the looming US Presidential elections, and the recent mixed messages from the Federal Reserve, the direction of the USD is unclear for now. Wait for more clarity before choosing a side. Could the USD downtrend be coming to an end? The charts of many currencies vs the USD are quite inconclusive on where the USD is headed in the near term. Charts do not always...

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More lockdowns will mean more work-from-home arrangements and more social distancing measures. Usage of video conferencing for work and for social purposes will continue to rise. Despite the recent weakness in Tech Stocks, Zoom Video is testing its all time highs again. With surging Covid-19 cases and the threat of lockdowns looming in various countries, this...

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With the agreement of the fiscal deal for the Eurozone, things are starting to look more positive for the monetary union. The much unloved EUR could finally have some good days in the months ahead. EUR has pierced through the bottom of the monthly Ichimoku cloud. Should it succeed to close above the cloud in the months ahead, things should start getting...

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Chinese economy recovering strongly should benefit the AUD in the longer run, and once Abe’s successor is elected, BoJ’s ultra-easy monetary policy will likely be reaffirmed — paving the way for eventual JPY weakness. AUDJPY has closed above the weekly Ichimoku cloud and broken above resistance at 0.7680–0.7700 convincingly. Buy on dips for a test above 0.8000...

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With the Chinese economy strongly recovering, and the PBOC being one of the rare few central banks which is not printing like there’s no tomorrow, the outperformance of the CNH is just beginning. USDCNH has closed below the weekly Ichimoku cloud convincingly. Any pullbacks to 6.93–94 will be a good opportunity to get short for a test of 6.70 and below!

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With cold weather coming soon to the Northern Hemisphere, Natural Gas could be getting interesting as the failing shale oil industry will eventually cause supply to be reduced. Natural Gas Futures closed convincingly above the weekly Ichimoku clouds for the first time since early last year. Dips will be supported and a test above 4.00 is possible in the weeks ahead.

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With the Reserve Bank of New Zealand (RBNZ) explicitly expressing their intention to weaken the currency and willing to contemplate negative interest rates and purchasing foreign assets if required, the NZD is likely to continue on a weakening path. The Reserve Bank of Australia (RBA), on the other hand, expressed their wish to see AUD lower but would not say...

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Things are getting interesting with various cryptocurrencies breaking higher. As cryptocurrencies become more mainstream and more progress is made in development of various use cases, the prices will creep steadily higher. Breaking above last year’s high of 364 convincingly, ETH/USD seems poised to test 600 and above.

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Bitcoin continues to gain credibility as time passes. Less than 2 weeks ago, the US Bank Regulator officially allowed US banks to provide fiat bank accounts services to cryptobusinesses and provide custodial services for cryptocurrencies to their clients. With more legitimacy, cryptocurrencies as an asset class will continue to grow, and Bitcoin being the most...

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We started the month with the Silver chart and we will end the month with the Gold chart. With this strong break through the previous all-time high, the FOMO that will soon grip the market will be yet another driving force that will push the price ever higher. Money printing that never stops is the dominant force for prices to continue higher into the...

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AUD/USD is probing above the weekly Ichimoku cloud. A close above would be a first since early 2018 and could mean the start of an uptrend that may test 0.8000 eventually. With the economic recovery in China gathering pace, and infrastructure building projects bound to be implemented by China, US and various other governments around the world to support the...

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This is the 2nd month in a row that I am starting the month with a monthly chart of Silver. The multi-month trend is strong and it is starting to gain momentum. The path ahead in a world of incessant money printing is lined with silver and gold. Do you have enough of it?

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China A50 Index breaking aggressively to new highs may be a signal that the melt-up in risk assets is just beginning. With the mainstream press and banks issuing buy recommendations on the stock market, the frenzy is likely to push this even higher - 19,500 is within sight!

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AUD/USD has broken to new lows below 0.6660. With the world economy likely to be significantly impacted by the Covid-19 situation, a test of 0.6000 seems likely from both the fundamental and technical perspective.

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With US and China likely to have found a temporary truce in their Trade War till the APEC meeting in Nov, and USDCNH trading into the daily Ichimoku cloud, the time to re-visit a short in USDCNH may soon be at hand!

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The retracement of AUD/NZD in recent weeks after the aggressive Ichimoku cloud has brought it back to levels that will soon provide a good risk vs reward opportunity to get long.