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NIO Inc.
I was cautious last night with calling it higher : Pattern indicates a move Up tomorrow , with the target at 5.35
Pattern was clear, so I had to call it – but wasn’t expecting such a move 😀
Breaking above 5.50 Nio entered the upper channel – one that promises a lot
7.71 is now our target.
I would like to see Nio closes tonight above 5.50 as it would indicate another day with a big move up.
Supports: 5.50 & 5.35
XRPUSD – Ripple
Ripple still on defensive , but first sign of stabilisation is here – no new low today and it might start to bild the base for move up.
For that to happen, it first has to take out resistance at 3.0055 – that yellow line above the head
Other resistances: 3.0440, 3.0970 & 3.1450
Supports: 2.8725, 2.8515 & 2.8100
What’s hot and what’s not?
What’s hot?
The dollar is up and if it holds its gains, it will head into Powell’s speech tomorrow on a firmer note..
What’s not?
Losers in this order: JPY, CHF, EUR, GBP, CAD, AUD, NZD
US Bonds (yields up)
US stocks but consolidating
GOLD is down but consolidating
Bitcoin is down
Next up: S&P Global flash PMI (not as important as ISM but market often reacts)
See our Economic Data Calendar
With EURUSD (GBPUSD, GOLD as well) unable to shake a focus from the “50” level (1.1650), it seems like a good time to revisit this article
My Favorite Trading Secret: The Power of the “50” Level
Weekly claims miss (higher), Philly Fed miss lower, employment falls, prices rise
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