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Bitcoin has recently seen a relief rally, along with other risk-on assets such as stocks. However, it is necessary to be extremely careful as it is possible that it was profit taking from traders who were short before the end of the week. The situation remains extremely volatile and uncertain. Nevertheless, the technical support at 30K should be extremely hard to...

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The EURSGD pair might show a bearish hidden divergence soon, please wait for confirmation from MACD cross though. The last hidden divergence worked admirably well as indicated on the price chart. The horizontal yellow lines are showing area of support, very much respected as of recently. On the fundamental side, the ECB, while increasingly hawkish, is...

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NZDJPY is now showing a reversal pattern in the form of a bullish divergence on both MACD and RSI. On pure technicals, a long position makes sense. We're also in an area of support. What could be a downside risk are fundamentals. Uncertainty about the Russia-Ukraine conflict, the inflation and central bank rising interest rates (which have resulted in a broad...

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Fundamentals: -High inflation (bearish because tightening from FED expected). -Bad employment numbers (bearish, ADP report yesterday). -Concerns about Ukraine (bearish). -Any comment from FED members might move the market and the buy the dip mentality could also resume the uptrend. -Watch the NFP release, if bad, it's a tricky situation for the FED as they...

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Bitcoin has been recently reacting along the macro, risk-off picture painted on traditional markets. Very similar movements are seen on the SP500 due to escalating fear of heavy tightening from the FED and the possibility of conflict in Ukraine. Bitcoin is currently deeply in oversold levels (along with American stocks) and is reacting accordingly with a bounce....

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The EURUSD pair has been in a very steep downtrend but recently consolidated from oversold levels. The hidden divergence might be signaling a good entry for a bearish continuation. Fundamentals also favor a bearish bias (ECB dovish vs FED hawkish). Careful about the next strong support though (green lines).

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Textbook bearish hidden divergence on GBPUSD to continue the downtrend towards the next support (previous low). Fundamentals are overall neutral.

romjpn

The Japanese yen has seen very rough days lately, constantly weakening again its major pairs such as the USD but also GBP. The GBPJPY pair is currently at a very interesting level that everyone else is probably watching. There's a very strong resistance up there and maybe it's time for the global JPY bear trend to take a breather. Wait for a momentum...

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Swing trade idea. Resistance in yellow as well as next support. Fundamentals are neutral but uncertain. The UK seems to give into the Omicron hysteria. Australia might have higher commodities price as a tailwind but is also taking extremely coercive measures, bordering on totalitarianism to supposedly curb the virus spread. Both countries are therefore at risk...

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Bitcoin fundamentals might be mixed in 2022. On the positive side, inflation is at a very high level, El Salvador and billionaires are buying the dip(s) and other countries are considering laws to make it legal tender. There's a very constant and positive maturing process and this will act as a tailwind. Nevertheless, don't go all in just yet. Bitcoin is still...

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COVID camps and extreme divisive policies against unvaccinated people is depicting a government that is trending towards totalitarianism, markets know this and are reacting accordingly. The US dollar is in a much better place with constitutional rights preserved so far and many states preserving their economic activity and social cohesion. There's no horizon in...

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NZDUSD is timidly bouncing off a key support but seems to be determined to go down among a very uncertain global economic situation. New lockdowns, new travel restrictions, more and more unrest and riots, mandatory vaccinations, camps... This is decidedly a climate that would favor risk-off behavior. A clear daily close below this support level would trigger a...

romjpn Updated 

EURCAD is trading in a solid uptrend and I expect more upside. This is a swing trade position. Take 50% off trade at 1:1 RR then leave it running until TP.

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A hidden divergence is shaping up on this pair for a continuation swing trade. Sell when the WaveTrend indicator will cross down (red dot).

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My collection of indicators is indicating a bearish continuation move. On the fundamental side, the market is awaiting what Powell will say during the symposium to see if they can continue the never-ending party they're having with unlimited cash. This is a risk for this trade as AUDJPY can reflect the balance between risk off and risk on. Nevertheless, the...

romjpn Updated 

FX:GBPUSD is showing bearish movement on the daily chart. My collection of indicators are showing a bearish signal. Therefore, a swing trade has been opened.

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A simple setup on GBPNZD hourly.

romjpn

The CHF has been absolutely smashed against a lot of currencies, notably the "risk on" ones like EUR, GBP, CAD and so on. But also against safe haven currencies like the USD and to a lesser extent, JPY. Such moves are relatively rare and usually trigger a fairly deep correction. Fundamentals are bullish mid to long term (risk on + dovish SNB that wants a weaker...