CBs, rates and make or lose trading opps 3rd week of March
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Frank what is your take on SNB (in)action next 03/21 ?
tia
For a few reasons I do not think SNB will cut despite – relatively to other jurisdictions – nice inflation/ary numbers.
As I am biased (i.e. opinionated) I am expecting to continue to be swissy negative in my trading it.
EURJPY 4 HOUR
I was asked why the dollar is not moving up with higher yields today.
My answer: Look at the JPY where weak crosses are giving other currencies, such as the EURUSD, some offset support.
So, take a look at EURJPY, which is testing the next resistance at 162.18.
161.70 is now the key support.
EURUSD 4H
Eur just couldn’t close bellow that support trend line…
This looks very bearish, and calls for at least another attempt for previous low , or near it.
I’ll give it all the way to 1.08650, and if taken out, we are on the road to 1.07950
However, if it holds, we can witness few days of Sideways to Up. Even 1.09200
I am not going to Buy it no matter what.
Sell small time frames
DLRx 102.94 – little-bitly down
10-yr 4.273%
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dlr may be up on the week but looking to take a pause here.
players’ consensus for next week FED is no change.
Probable next player interest will be FOMC’s dots. (the dots are a coded messaging system to quasi-insiders and are assumed to represent policy-makers’ expectations)
BTC 4 HOUR CHART
When something moves *in this case down) almost 6%, it is hard to give a technical view even though charts after the fact can look clear (note 2 blue AT lines signaled a potential top).
Given the way BTC trades, psychological or magic number levels might be a better guide.
In this regard, 60,000-65,000-70,000 will dictate how far this retracement goes.
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