Market Update 2/9 – Watch this Bitcoin Level!

Market Update 2/9 – Watch this Bitcoin Level!

ByScandinavian Capital Markets

If I look at Bitcoin as nothing more than a liquid asset and apply a channel to price history then 53k (give or take) is a level to pay attention to. The level is defined by the 75 line of the channel from the January 2015 low. As an aside, the Bitcoin bottom then was 1/15/2014…one day before the SNB let the floor go on EURCHF. I bought BTCUSD that day but then sold in May 2017. Worst exit ever? The fact that I think about that now is instructive from a timing standpoint. Anyway, the 25 line was support (highlighted) from May to October last year. As per median line symmetry, the 75 line is expected resistance…which is 53,000.

Market Update: February 4

Market Update: February 4

ByScandinavian Capital Markets

EURUSD has reached the 1.1960s, which is marked by the top side of the 2008-2014 line and center line of the channel from the March low. It’s important! I’m ‘thinking’ some consolidation / bounce here before the level gives way. Recall that the rally from March is in 5 waves so a move back to the former 4th wave low at 1.1603 is suggested (as per wave guidelines…see the 4 hour chart below). Proposed resistance is now 1.2000/25. The top of this zone is the center line of the Schiff fork from the high (red line on the hourly chart…2 charts down). That line has been support/resistance for the last week.

Market Update 2/1 – Bullish USD Head and Shoulders Patterns

Market Update 2/1 – Bullish USD Head and Shoulders Patterns

ByScandinavian Capital Markets

DXY is trading right at the neckline from a head and shoulders bottom pattern. The objective from the pattern is 92.80 (magenta line) but the former low at 91.75 is a possible pausing level. Ultimately, I’m looking towards the underside of former channel support. This is near 95 and in line with the March low, former 4th wave high, and 38.2% retrace of the decline from the March high (see weekly chart below).

Scandanavian Asset Management Launches Intelligent Portfolio

Scandanavian Asset Management Launches Intelligent Portfolio

ByScandinavian Capital Markets

Investors can now choose amongst actively managed alternative investment strategies. Stockholm, Sweden: Scandinavian Asset Management, a premier asset management broker,  introduced their new Intelligent Portfolio service, offering investors a new way to participate in alternative investments such as currencies and commodities provided by institutional trading teams around the world. With access to historical performance, investors…

Market Update 1/27 – USD Breakout!?

Market Update 1/27 – USD Breakout!?

ByScandinavian Capital Markets

USDOLLAR (quarter each of EUR, GBP, JPY, and AUD) has broken above the trendline that originates at the 11/12 high. The top side of that line is now proposed support near 11684. Upside focus is the 12/21 high at 11837. The level is reinforced by the median line from the fork that originates at the January 2017 high. A longer term chart is shown below for context.