|CPI for the United States reports as expected, but slightly better than last month's. The pair on the 4H chart seems like it has found support starting in the low 1.2600s, however, price has been on a steady downtrend while Canada's currency is still heavily favored.|
|Gold finally sees a good bounce off the lowest part of the support zone making both a higher high and low. Sustaining itself above $1700 looks like we could finally see some bullishness on the metal as market fears begin to reside once again. This severe underperformance in gold and the deviation from the 200 DMA can also be looked at as an indicator to start picking up long positions in the meantime.|
After inflation fears began to reside, the market broke above the falling trend line and resistance level on the daily chart. Treasury bond yields have also have stopped their run to the upside for now which is a good sign for stocks. That long term trend line on the daily chart has shown that it's an effective level for price to find support at so that can be a new reference point if price were to fall back again.
9/24/2021 The People's Bank of China banned all crypto transactions on overseas Chinese services along with its domestic ban. Bitcoin is down over 8% today and Ethereum is down 11.48%. Our outlook I think we're seeing a lot of noise around China and their condemning of cryptocurrencies before they digitize their own. In the short […]
Let's look into the Bank of England's Monetary Policy Summary which took place on Thursday the 23rd of September, 2021. Quick Summary: BoE keeps interest rates unchanged at 0.10% BoE will maintain its asset purchasing target at £875B The vote to keep policy unchanged passed with a 7-2 vote The minutes of the MPC meeting […]
9/23/2021 The precious metal snapped three days of gains and tumbled back down to the support range from $1740s-1760s approximately. Gold is down -.56% on the day going into the opening of the NY session. Our outlook Gold will likely rise on the US indices falling, and is usually due to slowing economic growth. Because […]
9/21/2021 Bitcoin Update For the past month, Bitcoin went on a tear rising over 20% from the beginning of August. Recently, however, China and other risk-off factors have contributed to a 23% decline from the recent highs around $52,760. Now the most prominent crypto has touched these monthly lows which could be a potentially good […]