Last week Market Pack
Depression at the end of last week led to bloodshed in financial markets yesterday. All risk assets fell, all major currencies were the biggest beneficiaries against the USD, but JPY tried to bring it back but eventually USD / JPY closed.
During the morning trading session in Europe, the stock market plummeted, and in the wake of the next session in the US session, there was a sharp rise in speculation over Italian bonds. The influx of cryptocurrencies over the weekend has also accelerated with the fall of Bitcoin. The negative UK GDP reading for May has further accelerated depression.
Today’s information agenda
Today we have the UK Employment Report and average earnings, which is expected to increase, although not as fast as inflation. ZEW economic sentiment is expected to improve in the eurozone and Germany but is still negative. US PII (Manufacturer Price Index) inflation figures are expected to be released in the afternoon, expected to rise again and keep the FED on the Hawkish pedal.
Yesterday there was a lot of volatility in all markets, the mood of the risk changed more negatively, which accelerated the sale of risky assets. We were caught up in three trades on the wrong side of JPY because Yen suddenly took advantage of the security situation once this year and received some tough bids. But as the USD / JPY fluctuated, we adjusted for the US session.
USD / CAD – Buy a signal
USD / CAD has been trending for a month, but we saw a reversal around 1.25 last weekend and these pairs are up 4 cents so far. According to 20 SMA (gray), the risk during this operation was very low. Yesterday, my co-worker opened that average buy mark and made a profit.
USD / CAD – 60 minute chart
USD / JPY – Buy tokens
We will continue to be subject to bullying discrimination for these two years, although the rate of bullying has accelerated since March, and the low is still high, reaching its peak in 2002. Since March, inflation has risen dramatically, and the USD / JPY has moved to new highs.
Over the past three days, sellers have tried their luck, but in the end, the price has closed near highs, which is a sign of bullying. So, we will continue to be bullies on this pair and we will try to pick up the lower part this fall l0wer this week.
USD / JPY – Daily chart
Crypto Currency Update
Crypto currencies were strengthened a month ago after the next leg and traded in the region until the end of last week, making several attempts to change things from buyers. But those attempts failed, which was a signal for the crypto market. Sales resumed last week and we are seeing a lot of cryptos breaking some major support zones, going down, so the downturn continues in the crypto market.
Bitcoin It goes to $ 20,000.
Bitcoin went up to $ 65,000 in April last year, a new high of $ 70,000 before the launch of the cryptocurrency campaign and in November. But since then the trend has been weak and BTC seems to be completing its fifth wave of Elliot Wave Pattern. So, it looks like BTC is going up to $ 20,000 and we are going to look at price action around to see if it will take the lead.
BTC / USD – Daily chart
Hit the TP target as the ADA / USD fall continues
Cardano token ADA’s Cardano token showed some bullshit last week as it prepares to launch Vasil Hard Fork later this month. The profits from last week’s bullying attempt were better than most cryptos and are still trading above the resistance after the 50 SMA (yellow) rejection and bear reversal. We decided to sell ADA / USD Last week it made a profit below this average and the price went down.