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Stimulus

BTCUSD looks heavy at this top area bringing in a buy-on-dip oppThe BTCUSD crypto looks top-heavy in the latest daily moves. I'm fundamentally long using options as my preferred strategy for entry and exit. But, it looks as if there is a lack of momentum going for the $12k level. Using options as my strategy allows me to continuously profit from micro-moves up and down as the crypto continues to waver. #BTC #BTCUSD #Cryptocurrency With the amount of money created by the Federal Government, however, the fundamentals of Bitcoin will kick in and the currency will ultimately push upwards.
COINBASE:BTCUSDLong
by ByDHTaylor
1
Gold around 1900 on firm dollar and lack of clarity on stimulus!"Confusion", "anxiety", "excitement", are just a few words depicting the market emotions and movement of yesterday. There has been a series of updates which are contributing to the market volatility. Gold is hovering around the $1900 level amidst, a firm dollar and lack of agreement on the new Covid relief bill. Also IMF released their global growth forecast report, which showed a contraction of -4.4% v/s -5.2% in June, denting the appeal for safe haven. On other hand, expectation for a Covid19 vaccine took a backseat after Johnson & Johnson and Eli Lilly and Co. paused vaccine trials, limiting some losses for gold. Global finance leaders said the world economy had escaped a coronavirus-triggered collapse so far, but warned that failure to conquer the pandemic, maintain stimulus and tackle mounting debt among poor nations could crush fragile recovery. Market participants will continue to focus on these important updates, and it is advised that a cautious approach is maintained. A $1,916 retest on the H4 today could be enough to spark buying, considering we’re coming from weekly support at $1,882. The H4 resistance at $1,941 serves as a logical upside target for longs, and somewhere fresh sellers may make a show, having noted the H4 and daily confluence. Suggestion: BUY GOLD FROM 1904-05 SL BELOW 1880 TGT 1925 ELSE SELL BELOW 1875 TGT 1850 SL ABV 1885
OANDA:XAUUSDLong
by OfficialYaMarkets
1
BTCUSD should continue with its push towards 12kI continue to watch for the move in BTCUSD upwards to $12,000. The whole reason BTC exists is because of the over-inflation of the USD after the financial crisis of 2008. The amount of money the Federal government is printing these days is going to make 2008 look silly. I am not certain as to when the next stimulus package will pass. They are talking about another $1.5T or more. That would be an additional 50% more than what was first pushed through in April. Given this, I am bullish on BTC for the long term. BITSTAMP:BTCUSD
COINBASE:BTCUSDLong
by ByDHTaylor
Gold remained steady near its three week peakGold remained steady near its three week peak on Monday as the dollar recovered some ground but the prospects of more US Coronavirus relief spending and uncertainty around next month’s presidential election put a floor under prices. The Trump administration called on Congress to pass a stripped -down Coronavirus relief bill using leftover funds, as negotiations on a broader package stalled ahead of the November 3 presidential election. Technically, Gold hovering on a support zone 1900-1920 with pivot at 1911 and support at ma50 (h4) at 1904. Upside resistance lies at 1922. For the day we advise to stay on buy on dips for upside ma200 as an initial target., a break above and settle scan rise sharply till 1936 or d ma50. A break that says a chart channel resistance breaks can leads to directly 1984-1995 initial resistance zone. Overall buy on dips is advised for the day. Suggestion: BUY GOLD FROM 1910-11 SL BELOW 1895 TGT 1920-25 ELSE SELL BELOW 1895 TGT 1880/1875 SL ABV 1915
OANDA:XAUUSDLong
by OfficialYaMarkets
Bitcoin elliot wave ABC correction next?Recently we been playing the long game, yet is it time for people to suffer? Longs have dumped today and shorts are recovering drastically, yet bitcoin trends sideways. On market close bitcoin pumped to 11300 a target I had as a mid ground or fair value of a pump to these levels, yet at the same time we created a cme gap. I know we didn't fill the last one, yet since we are so close to it wick down the candle isn't out of the realm of possibilities. News -White house released a new package of 1.8trillion dollars, yet over the weaken Nancy rejected it (probably political so the dems can run on republicans not giving enough). Has the market factored in no stimulas? Well no it factored in when trump said no stimulus, yet was greeted with we will try next week. WIth Nancy rejecting the new one it is possible on market up we could see the dump. TA -Elliot wave as you can see on the pump looks like a classic pump of the 1,2,3,4,5 elliot wave with a correction of a 1,2,3 or a,b,c on how elliot waves work. -MACD looks like it was to turn over bullish -50EMA had held us at support, yet the range of 11272 is our support line that we got inchs away. -RSI is heading to overbought and is in a downtrend. If RSI can't hit 63.88 or hold above 48.50 we are bearish. Final thoughts Taking a small short now may be the play atm for a correction, yet it is uncertain if you want to take the risk if you believe the global markets don't give a dam or you don't care about cme gaps. I'm taking a small portion of my btc to take that risk with a low risk, yet high reward play.
COINBASE:BTCUSDLong
by nathanielx9
1
Weekly Review: Regaining Momentum (Read for Fundamentals)Current situation in the markets is being better than I expected. - It may lose some momentum with the time. Markets are starting to price in a stimulus agreement in the US. - Which, honestly, is still far away to happen Relationship virus – markets is starting to stabilise In the short term, what really matters now is the stimulus agreement followed by the US elections. From Tuesday, we´ll get some macro news. American macro is outpacing the rest of countries, Europe is not doing too badly and the UK is lagging behind. I believe this week will not be as bullish as the last one and with the US elections, approaching the markets will start to flatten and be more cautious.
CME_MINI:ES1!Short
by PepeMafia
ETH On That BuLLish Run?It appears institutional money has suede the market in this potential breakout from this downward trend from early Sept. Twitters CEO, Jack Dorsey bagged $50M of bitcoin, which gave the crypto market some nice price action to the upside, but it seems that was only the match that started the fire within this bullish run. It was Trump who poured gasoline on this fire by pushing forward with much need stimulus to airlines. This should be a good sign more stimulus is to come. Therefore, ETH’s 9EMA has just crossed the 200EMA, which is a strong move that means there should be some continuation to the upside. Cheers!
Long
by AB_Trading-Intelligence
EUR/USD Trading Around Stimulus/BrexitOANDA:EURUSD is near completion of it's Elliot's Wave pattern following a tough week for the Dollar. Today's action is mostly accredited to strength of AMEX:SLV and TVC:GOLD . I believe there is a correction or some consolidation due early next week with the amount of economic announcements on the US and European sides, and as Brexit new's continues to develop with apparent "rounding issues" occurring. GOLD and SLV will likely flatten out due to the upcoming debate. Also, with US Stimulus likely becoming a hot topic at the debate with rumors still floating some type of relief. In conclusion, Europe and Britains uncertain future will likely bring weakness to the Euro early in the week, and I predict the dollar to stay flat leading up to the debate and bounce with more strength in GOLD and SLV or a Stimulus package. EUR/USD could easily reach 1.915 next week as these events play out or retrace to resistance turned support from July.
by crawfordpaul
VIX Decrease Today? (Oct 9th 2020)VIX - S&P 500 Volatility Index - (October 9th-14th 2020) Just an idea about our beloved VIX going down over the next week or so. Big moves in S&P to be made this week? Bloodbath could still be around the corner... It is the month of Halloween after all... ;) Low: ~23.64-24% High: 27.05% Could get crazy with the election inbound... Thanks for tuning in :) Disclaimer, I am not responsible for any losses incurred while attempting to use my data, I hope this can prove to be some sort of learning tool for some and give insight as to how I personally come up with my own numbers. Take into full consideration this could be a completely bad forecast. Cheers
CBOE:VIX
by Hambooger
DXY $Index Cup & Handle Pattern H2 Chart Target 94.40(23.6%Fib.)INDEX:DXY Update for DXY...After "No Stimulus 'til after Election" triggers market to buy $Index(DXY). Previously, as linked ideas, I had called for a DXY bounce at beginning of September. DXY proceeded to bounce from its 2011 Long Term upwards trendline, retracing to the 23.6% Fibonacci level($94.40) of the March to September drawdown. From there I forecasted that DXY would come back to test the 14% Fib. area and the local trendline(blue dotted upward sloping). The news of no stimulus conveniently triggered "Risk-Off", subsequently turning the market to the safety of US Dollars(DXY). On the 2-Hour Chart I see a cup & handle formation. The handle retracement looks complete at 50% Fibonacci retracement, subsequently reclaiming the(blue dotted) upward trendline. The target for the measured move is back to the 23.6% Fib. area of $94.40.... Again, I maintain my stance regarding the DXY as I will copy paste my previously published analysis statement: Oct 1 INDEX:DXY I had been calling for DXY to retrace after reaching the 23.6%($94. 40 ) back to local trendline and 14% Fib. The DXY pulled back to $93.53, just shy of the 14%, as well as the local trendline(blue dotted line). Now we find DXY regaining its corrective momentum to the upside. I still contend that the 138.2%($95.39) Fibonacci extension of correction is in play, and perhaps the 38.2% Retracement ($96.04)! Perhaps the final corrective wave(call it "C" or "Y") will end in a 5 wave diagonal, not impulse? To reiterate; I believe DXY is following a similar trend as in 2016 during the election period in the USA! In 2016 $Index was able to rally through the election into early January, 2017. It was at that point that the DXY began to breakdown for one year. During this time Bitcoin (& Crypto) inversely correlated, and of course was able to rally to its ATH as the $Index found a bottom in January, 2018. From there the Dollar has rallied up until March of this year(2020), at which point the Dollar again broke down, and has found support on its Long Term trendline. I believe a similar pattern will play out, give or take a month or three, and DXY will eventually break below the 2011 trendline. Let's see how it all goes....
TVC:DXY
by TheFreeCryptoPress
October 7 PlanAlongside news that President Trump halted relief talks with Democrats until after the election, markets fell apart, retesting the prior week balance and the VWAP anchored from the September highs. Since the cash close, markets have recovered substantially off their overnight lows alongside comments Trump could send $1,200 checks to Americans. The action has been constructive and we're now sitting right on top of a major high-volume concentration that denotes recent value and should allow responsive sellers favorable entry if there has been an actual change in conviction. Auctioning through the high-volume area and recovering the SOC (Scene Of The Crime) would increase the odds we test the 61.8% retracement (i.e., $3,440). Overall, remaining above the $3,370 high-volume area is bullish. Below $3,370 is bearish. This will likely be a go, no-go level in today's trade. Note: Prior to the sell-off, the market was showing signs of a balance-area break-out, piercing through the "Ledge". The fact that it was building value north of the ledge gave initiative longs confidence to discover higher. Given that the news event brought us back into range, there's potential that the responsive participants auction price lower to the other end of balance, near the $3,320 area (i.e., a boundary of the low-volume area which denotes upside directional conviction). Defense of the low-volume area is paramount. Should price probe into and auction through the area, then a likely target would be the recent $3,198 swing low.
CME_MINI:MES1!
by Physik
Trump abandoned stimulus talks, Gold fell to one week lowGold prices on Wednesday hovered near a one-week low hit in the previous session, after U.S. President Donald Trump halted new stimulus talks, bolstering the dollar. Prospects for more aid for Americans struggling through the COVID-19 pandemic and U.S. airlines seeking to avert a wave of layoffs crumbled on Tuesday when Trump ended negotiations until after the November election. U.S. and European central bankers called for renewed government spending to support families and businesses as the battle against the coronavirus triggered recession enters a newly critical phase, giving some support to gold on lower levels. Economic calendar is fairly light today on data front, although market participants will keep an eye on the FOMC minutes scheduled later in the day, wherein comments from the fed governor will be in focus. Holdings in SPDR gold Trust, the world’s largest gold backed exchange traded fund, fell 0.32% to 1271.52 tonnes on Tuesday. Technical: H4 resistance at $1,916 held back buyers, with the candles settling the session just north of H4 support coming in at $1,871. Daily price also receded lower from resistance at $1,911, aided by trend line resistance, extended from the high $2,075. Shaped in the form of a bearish outside day reversal, the daily chart reveals scope to approach support at $1,841. While both the daily and H4 timeframes eye lower levels, traders might want to take into account that weekly price remains circling a support level at $1,882. In addition to this, the trend in this market has faced decisively north since 2016. Sellers are likely monitoring H4 support at $1,871 today, as a push through here shines the spotlight on H4 support at $1,835, which sits just under daily support at $1,841 (the next downside target on the daily timeframe). Consequently, a H4 close below $1,871 could trigger bearish scenarios, while a decisive rejection from $1,871 suggests the pendulum may swing in favour of weekly bulls off support at $1,882.
OANDA:XAUUSDShort
by OfficialYaMarkets
AAL Wedge NASDAQ:AAL and other airline stocks may see a boost this week with talks of relief for the companies. My target for AAL is 15.60 for the day leading up to earnings. I believe that stimulus could quickly take shares up and shift the downward momentum that airlines have faced over the past three months. Furthermore the wedge that is forming is supported with a few bullish catalysts, MACD cross, 50 SMA approaching the 100 SMA for an upward cross, and a strong increase in volume on a move to a higher high.
NASDAQ:AALLong
by crawfordpaul
Gold glittering on positive stimulus hopes...new month new levelGold prices Gold declined after a back-to-back advance as the first American presidential debate disappointed the market by giving no clarity regarding their policies and stances. If USD is to weaken as the stimulus package accord seems far away, gold could make its way back. Technically holding above 1880 and close abv 1889 could rise again to test immediate resistance at 1900 and 1905. Buying on dips is suggested.
OANDA:XAUUSDLong
by OfficialYaMarkets
2
Transports: Consolidating during market downturnTechnical 20sma is being supportive, but it is recommended to keep your stops somewhat below the average. A close below $190 would be a bearish warning. The broad market has been taking a downturn over the past week. The Transportation industry has been consolidating, showing relative strength over the rest of the market. Fundamental While the white house cannot get it together to pass the fiscal stimulus, transportation could be a gainer as it is likely they will spend on Infrastructure.
CBOE:IYTLong
by dorfmanmaster