BTCUSD DAILY

Market Update 12/5 – Crypto Ideas after a Wild Weekend

ByJamie Saettele

That 11/10 reversal nailed the high. From high to low, BTCUSD dropped 39%. The low over the weekend was at the center line from the channel that originates at the 2015 low. 53000 has been a key level since September and I’m watching for resistance at that level. With the low at the center line however, watch for support at 45000-46000. An aggressive bearish target on a break of the center line is 23000. The longer term picture is below.

USDOLLAR 4 HOUR

Market Update 12/2/2021 – More USD Bearish Signs

ByJamie Saettele

We got a prediction headline. The following is courtesy of the WSJ. Whether Omicron Wreaks Havoc or Not, the U.S. Dollar Is a Buy

Prediction headlines indicate extreme confidence in the direction of the trend. This is the same psychology that led to Powell capitulating on inflation. I’m extremely bearish the USD. Whether or not we get a spike higher following NFP is a complete guess but pay attention to this short term channel in USDOLLAR. A break below would serve as the ‘all clear’ that the USD is about to dump.

AUDJPY DAILY

Market Update 12/1 – Nasdaq Levels and AUDJPY Setup

ByJamie Saettele

AUDJPY is the ultimate risk barometer. As usual, it’s WAY ahead of the equity market (the equity market is always the last to know). Price has reached the median line of the fork that originates at the May high. This is a good spot for a bounce and 82.40 is well-defined for resistance. This is the 25 line, which was support on 11/10. Ultimately, a downside objective is near 74 (see below).

DXY 4 HOUR

Market Update 11/30 – More USD Topping Evidence

ByJamie Saettele

The DXY high is right on the trendline that was pointed out last week (see chart below for the full picture)…we may have just seen a major top. Trading wise, I’m looking towards 93.30/50 with 95.20s as a possible bounce level. The lower zone is channel support. That will be the big test. If DXY is a bear then 96.20s should provide resistance.

USDJPY 4 HOUR

Market Update 11/29 – Massive Yen Reversal in Play

ByJamie Saettele

USDJPY reversed sharply last week and high was 115.52! Near term downside focus is 112.20s and 114.50s sticks out as possible resistance. This is the 61.8% retrace of the decline from the high along with the 25 line of a short term fork. The 75 line provided support (so far) so resistance at the 25 line would make sense.