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BTCUSD
Looking at this weekly chart , unless pushed by some miracle force over 100K within a week or two, Bitcoin is destined to slowly find a real footing and it might take even few months from now.
There is No some Central Bank that might intervene on some levels and all depends on what price is going to be Cheap to the Big Players.
This 74.430 is the first logical level, and if it really provides a strong support , we would be watching levels between 150 & 200 K next year.
However, there is a cheaper one – 50K – however if that would be the case Bitcoin would be on defensive quite longer…
Everything is possible when it comes to Markets, but seems to me that this is just a beginning of a big correction that might take up to two years….don’t shoot me – I am just saying what I’m seeing.
Thanksgiving holiday trading hours
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USDJPY Technical Analysis: Weakness in both currencies leads to choppy price action
Fundamental Overview
The USD weakened across the board recently following soft ADP data and a Bloomberg report saying that Hassett emerged as the frontrunner for the Fed Chair position.
The greenback was already under some pressure caused by Fed’s Williams endorsement for a December cut last Friday. The probability for a December cut is now at 76%, which generally makes it a done deal.
We won’t get much data before the FOMC meeting, so the focus will likely be mainly on jobless claims and ADP data, which haven’t been showing any strong improvement. Weak data should keep weighing on the greenback, while strong data could provide some short-term support. At the end of the day though, it’s all about the FOMC decision now and the following NFP and CPI reports.
On the JPY side, nothing has changed. The currency has been weakening since the last BoJ policy decision where the central bank left interest rates unchanged as expected with again two dissenters voting for a hike.
USDJPY daily
On the daily chart, we can see that USDJPY is bouncing near the trendline as the buyers are stepping in with a defined risk below the trendline to position for a rally into the 158.87 level. The sellers, on the other hand, will want to see the price breaking lower to pile in for a drop into the 153.50 support next.
ECB Minutes: No surprise
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Forex Market Snapshot
- Risks of trading in a US holiday thinned market have been on display with the early dollar selling not following through.
- EURUSD came within 2 pips of its first 1.1615 target before backing off. Key support is still distant at 1.1547 to keep the dip as a retracement.
- GBPUSD has backed off and dependent on 1.32 holding to keep its bid.
- Bitcoin has extended its high but so far paused just below 92K
- Looking ahead, Friday is month end when liquidity will still be thin with many in the US taking an extended holiday weekend.
Newsquawk US FX Wrap
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JPM fflips on rates
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Newsquawk US Stock Market Wrap
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Newsquawk US Market Wrap
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Robinhood Markets Inc. Stocks – HOOD
Robinhood HOOD shares surged about 11% on Wednesday afternoon trading after the fintech said it will deepen its reach into prediction markets through a joint venture with Susquehanna International Group to acquire a 90% stake in MIAXdx from Miami International, which will retain a 10%.
The venture will make Robinhood the controlling partner and give it direct access to MIAXdx, a CFTC-licensed contract market, derivatives clearing organization and swap execution facility.
Resistances: 130.25 & 135.55
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