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Daily Forex And Crypto Signals

Bitcoin breaks below the $40,000 level. Could we now see a fall toward the $30,000-handle? Maybe, but first bears will have to pass the 36000-level.

Daily Forex Signals:

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EUR/USD

Long @ 1.1340

Short @ 1.1280

GBP/USD

Long @ 1.3630

Short @ 1.3575

DAX® (GER30)

Long @ 15810

Short @ 15720

Disclaimer: All trading ideas and expressions of opinion made in the articles are the personal opinion and assumption of MaiMarFX traders. They are not meant to be a solicitation or recommendation to buy or sell a specific financial instrument.

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Bitcoin – Potential Flash Crash Toward $30,000?

Friday’s U.S. jobs report came in with only 199k jobs in December, less than half of the projections but the unemployment rate fell below 4 percent and wages jumped last month, adding to evidence of a tight labor market. Despite the disappointing payroll growth, the drop in the jobless rate and faster wage growth may justify a quicker tightening of monetary policy. The Federal Reserve could raise rates as soon as March.

U.S. dollar bulls took a backseat following Friday’s NFP report. This week’s focus now shifts to the U.S. CPI report due on Wednesday with headline inflation expected at 7.0 percent y/y in December and core at 5.4 percent. These would be the highest readings in 30-40 years. A higher-than-expected reading could further spur hawkish Fed monetary policy bets and thus bolster the dollar trade.

Technically, not much has changed in the EUR/USD and GBP/USD since our analysis from last Monday 3.1.

EUR/USD: The pair remains trading above 1.1270 and could aim for a test of 1.14/1.1420. A break above 1.1430 could result in accelerated bullish momentum toward 1.15. However, euro bulls are facing several resistances with risks being tilted to the downside given the divergence of monetary policy paths between the European Central bank and the Fed.

GBP/USD: Sterling bulls are trying to clear the 1.36-resistance level and if this happens, we see a higher target at around 1.3670. However most recently, the pair tends to trade in overbought territory, increasing the chances of a correction toward 1.3450.

Bitcoin – Drop to $ 30,000 becomes increasingly likely after a potential break below 40,000

With the Fed withdrawing stimulus and thus removing liquidity from the system, speculative assets are coming under pressure. In other words, cryptos are more vulnerable amid the Fed’s hawkish twist. A sustained break below 40000 could increase the chances of a flash crash toward 30000. Above 53000, the sentiment changes in favor of the bulls.

Disclaimer: All trading ideas and expressions of opinion made in the articles are the personal opinion and assumption of MaiMarFX traders. They are not meant to be a solicitation or recommendation to buy or sell a specific financial instrument.

Any and all liability of the author is excluded.

Copyright © All Rights Reserved 2022 MaiMarFX.

www.maimar.co

Follow us on social media:

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Fresh Highs in Cryptocurrencies While U.S. Dollar Consolidates

Monday’s best performer was the British pound which rose towards 1.3580 amid a weakening U.S. dollar. Our long entry at 1.3520 has thus proved profitable. We continue to see a short-term resistance at around 1.3615 in the GBP/USD.

EUR/USD: Buyers were able to take some profits yesterday but the upward move was limited to a high of 1.1595. We may see a renewed test of 1.1615 today. A current support is however seen at 1.15.

In the crypto world we saw fresh record highs with Bitcoin jumping above 68,000 and ETH/USD testing the 4800-price-area. Tests of 70,000 in BTC/USD and 5,000 in ETH/USD wouldn’t come as a surprise before a pronounced correction is due.

Disclaimer: All trading ideas and expressions of opinion made in the articles are the personal opinion and assumption of MaiMarFX traders. They are not meant to be a solicitation or recommendation to buy or sell a specific financial instrument.

Daily Forex Signals:

If you are keen to know where we put Take-Profit and Stop-Loss, if we trade on a specific day or not and how we manage open positions, subscribe to our signals.

Try out our new signals for cryptocurrencies:

ETH/USD

Long @ 4830

Short @ 4760

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