Bitcoin bulls are on the offensive; is a correction ahead?
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- April 28, 2025
US President Donald Trump turned up the heat on the tariff front last week, which, honestly, is becoming hard to keep track of. While it may be different not long after I publish this, as of writing, tomorrow will see the US administration impose 25% tariffs on Canada and Mexico following the 30-day reprieve. A
READ MOREXJO WEEKLY Price structure: Bearish continuation. The XJO has set a clear breakdown from the 14-month rising channel, the Index may be entering a corrective movement decline. Support at 8083 is yet to be tested, to remain bullish this level should provide a reversal signal. On price declines Index value can retest initial breakout levels,
READ MOREFebruary has not been kind to Tesla (ticker: TSLA), settling the month down 28% and stirring levels not seen since November 2024. I will keep the following analysis simple and concise. Despite the eye-watering drop in February, a daily support area entered the fray on Friday between US$264.82 and US$272.25, made up of the following
READ MORESeveral themes are at play right now, which contributed to a selloff across risk assets last week. Influenced by political shenanigans (tariffs) and the Bybit exchange breach, this sent Bitcoin (BTC) 17.5% lower versus the US dollar (USD) by the close of trading on Friday. Monthly Chart: Room to Explore Deeper Waters There is not
READ MOREBuyers and Sellers Squaring Off Between Monthly Support and Resistance Monthly resistance from 109.33 was a technical headwind I monitored on the US Dollar Index for a while, and so far, it has not disappointed me. The said resistance welcomed moderate selling in February, and although the combination of the 107.35 high (October 2023) and
READ MOREThe FP Markets Research Team scans the financial markets for you, highlighting clear and actionable technical structures. Forex: AUD/NZD Whipsaw Brewing? Daily Timeframe: The AUD/NZD cross (Australian dollar versus the New Zealand dollar) recently faded long-term daily resistance from NZ$1.1175 and probed below daily support at NZ$1.1088 (now marked resistance). The area I highlighted in
READ MOREUSD Bulls on the Ropes The US dollar (USD) – per the US Dollar Index – is on track to end February on the ropes following January’s monthly indecision candle at the resistance of 109.33. I believe USD bears have space to drive towards a ‘local’ descending support around 105.40ish, extended from the high of
READ MOREThe FP Markets Research Team scans the financial markets for you, highlighting clear and actionable technical structures. Forex: US Dollar Index Exploring Lower Levels Daily Timeframe: This week has witnessed price action regain some control from a 100% projection ratio at 106.65 (equal AB=CD support), though upside has been hampered by resistance from 107.05. Should
READ MOREWhile the UK is evading US tariffs for now, its economy continues to face a somewhat undecided future, with taxes on business set to increase in April and a lingering drag from the elevated interest rates. However, this week’s focus shifts to a rather busy slate of economic data in the UK. Regarding tier-1 metrics,
READ MOREThe Reserve Bank of Australia (RBA) will meet this Tuesday and is widely anticipated to deliver its first rate cut in four years amid easing inflationary pressures. I am ‘reasonably’ convinced that the central bank will reduce the Cash Rate this week, a belief based on inflation and growth data that delivered prints south of
READ MOREFollowing the RBNZ cutting its Official Cash Rate (OCR) by 50 basis points (bps) in November 2024, economists and investors expect another bumper 50 bp rate reduction on Wednesday this week – with an outside chance of a more minor 25 bp reduction. A 50 bp (25 bp) adjustment would bring the OCR to 3.75%
READ MOREXJO WEEKLY Price structure: Spinning top The Weekly chart of the XJO displays the Spinning Top candle showing indecision. This suggests a potential pause or reversal in the market’s current trend, indicating that traders are uncertain about the next direction. The spinning top is a clear signal of equilibrium between the buyers and sellers, reflecting the
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