NZDUSD DAILY

Market Update 12/9 – Tracking AUDUSD and NZDUSD Closely

ByJamie Saettele

NZDUSD has lagged AUDUSD on this bounce, which is interesting because AUDUSD reached it’s key level (.6990) but the key level for NZDUSD is slightly lower at .6700. Recall that this is the 38.2% retrace of the rally from March 2020 and the line off of lows since March. The November 2020 low has been reached at .6756 but I love the confluence at .6700. Watch for a possible non-confirmation with AUDUSD and NZDUSD. This would occur if NZDUSD drops to a new low but AUDUSD makes a higher low. This non-confirmation tends to occur at turns. .6860 remains an important overhead barrier.

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.

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.

BTCUSD 4 HOUR

Market Update 10/27 – BTCUSD Warning Equities?

ByJamie Saettele

BTCUSD is off 13% since the top last week. If price drops under the short term lower channel line near 56830 then weakness will be considered impulsive and ‘waterfall’ weakness would be on the table. Watch for resistance near 61850. The weekly chart is shown below. This looks ‘toppy’ to me. Yes, ‘toppy’ is an official technical term. Former trendline support has provided resistance on the way up, a doji candle formed last week, and the rally failed after taking out the prior high. Seems bearish. Finally, is BTCUSD trying to tell equities something (see 2 charts down)