With most of the economies around the world returning to their pre-Covid19 capacity, it only makes sense that the demand for Oil will increase. The US government has also been rumored to be thinking about giving Americans a $4000 vacation tax credit to help boost the tourism industry.
USDJPY is a pair that usually sit in a range for a few days before making a big move up. Currently sitting above a important level, would look to trade it to the 109 area if it holds and build on above here.
Posted a good trading setup for Gold last week with a target for 1800 Gold. So far working out, coming up to target soon.
USDJPY trade idea for June 30th 2020. Bullish pennant, nice potential day trade.
Bitcoin has not corrected really since run up from 2020 lows of around 3800. 9200 area is a big area for Bitcoin and it has broken out of the 3 month up trend. Possible first targets are 7800. BITSTAMP:BTCUSD
With increase in Covid 19 cases the market experienced some uncertainty. Target is still June Low. ES came back into the range and then broke back down. Potential forecast for next week.
100 point move to the downside targeting June Low. E-Mini S&P futures started to break out of the range possible correction time. Need to hold below 3056. TVC:SPX
Gold possibly to $1800? With the current state of the economy Gold possibly reach 1800 a ounce soon. Gold has held above the !650-1750 range nicely. Possible breakout to the upside holding above the blue zone bullish for Gold.
Dow Jones crashed about 11,000 points, hit the .5 Fibonacci and then went about about 6,000. Points. Long term Dow Jones Forecast.
This scenario for bitcoin reminds me of a similar setup from back in February. BITSTAMP:BTCUSD
USDJPY has been ranging last couple weeks. Broke down this week from key level touched the .5 Fib retracement and recovered. As long as we stay above this level, I will have a bullish bias when trading this pair. I think in terms of a short position and flipping bias would require for a break of this weeks low and hold under the low it printed this week.
USDJPY Setup I am looking for going into next week. Price has been ranging and is currently sitting on support. Will look to add to position as it breaks 108.140 are and holds. FX:USDJPY
After a week of strong selling the Dow Jones has touched the 12 year trend line for the 3rd time. Had not had a touch for 4 years. In this Channel is a good sign. At some point I would expect a third touch of the upper trend line. No need to panic sell everything in my opinion. Just think, a vaccine is being created for Covid19, do you really think that...
Simple, if it breaks we go to 19,000. Holds and it can recover.
After massive run up in the last couple month Ethereum has not had a major correction yet and is starting to look weak, with decreasing buy volume.
Bitcoin bounced right off the .5 Fib level which also can now be viewed as the third touch on the the trend line up. Their is reason to believe more upside for Bitcoin unless it breaks this trend line. Then we would be looking at Bitcoin going back to the 7600-7800 Range.
Dow Jones showed some signs of strength in the last couple of hours of trading on Friday afternoon. Will look for buys above the blue level going into next weeks trading session. After selling off after Fed Cut Rates I expect to see some recovery next week after positive NFP release on Friday. Would like to see Gold come down to correct as well which should help...
Would Look for a potential buy once back in the Green Zone. In my opinion it will reach that level and will look to short it down to that level. Would not be buying unless it breaks the trend line or reaches the green level.