Good morning traders! Monday thoughts and charts Oil, Bitcoin, Aussie
Good morning traders! Doing a short recap of events i have my eyes set on.
RBA rate statement in less than 24 hours. Most believe the RBA is going to talk down AUD. In another news, Japanese Prime Minister Abe and Donald Trump have vowed in a telephone call to take further action against North Korea. This makes my favorite instrument currently AUDJPY. If risk happens, JPY will strengthen and should the RBA talk down AUD, this makes for an excelent short.
AUDJPY key area, at 50% fib
AUDJPY daily - looking a little toppish?
Other news - the New Zealand goverment confirms second farm already had been contaminated with the horrible bacterial disease, in the old days this would be enough to move NZDUSD to much lower levels, but currently USD is in the role of the underdog, so putting a brake on this one. One eye on this instrument though (NZDUSD, NZDJPY)
WTI Oil
Venezuela's National Electoral Council has said more than eight million people voted to grant President Nicolas Maduro's ruling socialist party virtually unlimited powers with a constitutional assembly SOURCE
Also Bloomberg reports that Embargo against Venezuelan oil imports into the U.S. is off the table for now. But some kind of sanctions are coming.
Effect on oil prices can be short lived as we have hit peak sentiment in oil. Look for relief and reversals.
What else?
Bitcoin split coming tomorrow! I dont know the exact timeline, maybe someone can link it? If i had any bitcoin, i'd withdraw it from any exchange for now, just in case. The market will be here for a long time.
Trade safe everyone!
While jpy usually strengthens on risk this risk is in their backyard and could cause the opposite to happen
hehe surely i have found myself on the wrong side of the market many times int he past so all options open. cheers man
Havn't we all
BOJ has been borrowing heavily to fund share/bond buying streak for some time now:
Source: zerohedge.com
Further, guess who's the BIGGEST shareholder of the Nikkei 225?
Mind the dip:
Aussie, they will not raise or lower interest rates. Either way the Market Makers will use this as an excuse to drive the Aussie a little lower. Currently within the next few hours i am going to wait for the Stop hunt/ False move high and then sell it! :D
great sharing @furious-one now i am following you :)
Great analysis here man! I also use Fibonacci Retracement tools to calculate Bitcoin price forecasts... https://steemit.com/bitcoin/@hotsauceislethal/bitcoin-price-forecast-7-30-2017
I overlay that with the Bollinger Bands and sometimes Stochastics.
I really appreciate this article! It helps me very much!
I like this one a lot, but Aussie has burned me already trying to play resistance, and I have to let it slip.
RBA this afternoon Sydney time like you said too.
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