EURUSD 1.1851 |
USDJPY 111.52 |
GBPUSD 1.3772 |
AUDUSD 0.7485 |
USDCAD 1.2406 |
GBPJPY 153.59 |
EURJPY 132.15 |
AUDJPY 83.48 |
CADJPY 89.86 |
Silver 26.23 |
كيف تنخفض نسبة التضخم في بيتكوين تحت نسبة تضخم الذهب و ما يعني "صلابة" بيتكوين كعملة او إرادة؟
Bitcoin versus Miners Performance
As many of you know 2023 was kind to members of our WhatsApp Broadcast Group who snapped up shares in bitcoin miners, while 2024 has so far been more superior to Bitcoin than most of the miners...
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On the technical, AUD/USD has been climbing the upward channel H4 timeframe, eying on low 90 levels which coincides with 78.6% between 2008 highs/lows (see Monthly Chart). Most momentum based indicators suggesting an uptrend. On the daily, it seems price hasn't broken the daily moving average SMA.200, reversing from this point. On the other hand, the price seemed rather topsy above 8900 earlier today. Failure to breach 90 level resistance to drive it to new lows? A lot seems to depend on the risk-aversion trade... Is there much room for a short-term LONG opportunity here to ride it to 90+ levels this week?
So therefore, timing wise, I am guessing Chinese have squared bit of their positions and put fresh upon returning from long spring festival / Chinese New Year holidays. Several other market here in Asia, although much smaller than China, probably not big enough to make any impact, will be also closed for several days, but I am more interested on the cumulative lack of volume from Asia in those days of holiday overlaps pan-asia.
I haven't analyzed volume during the Chinese spring festival / Chinese New Year, and therefore, wondering whether we will have any material impact on trade with potentially thin volume.
I would love to hear views on to expect for the current forex market this major Asian holiday season. Asian indices in general trade higher just before the Chinese New Year, but these are not normal times....
Callum
As for Gold correlations, indeed, late last year was classic when Gold rallied stronger than the AUD/USD. Approx mid-Q3 and early Q4 last year, even EUR rally harder than the AUD against the US. Even at Dubai Crisis announcement on the even of Thanks-Giving last year, AUD came off a lot vs Gold. But then again, some of the equity correlations with EUR / USD also have been off in Dec/Jan timeframe but it seems like they are starting to normalize.
As for job numbers, they have been great numbers for the bulk of the time and this market reaction isn't unusual, and of-late, these upside gains in the Asian sessions could quickly vanish either in EU or US trading sessions.
I hope everyone, including myself will make money on the current rally upwards on the AUD which also helps pick up on overnight interests or off-set against the shorts, and get ready to position on those shorts.
Callum Bir
Callum
Also quote Ashraf's latest snippet from his IMT "$AUDJPY looks for trend line resists at 80.15"
There are lot of things that would favor the AUD today, including
1) the earning results of Rio Tinto.
2) China data, I don't know which way this would take the AUD, but if it is taken favourably, then it would be another major prop to the AUD.
3) Any further development from Greece bail out, at the of any EUR gains.
Callum