Technical Setups — Cryptos.Forex.Stocks

Crazy Cryptoverse

What a rough last week it has been for Cryptos with the digital coins wiping out the gains for the past month. The total MarketCap collapsed from $296 billion to $255 billion at the time of writing. Let’s see if Bitcoin can hold on to its Major support level of $6900 or will it negate the basing theory & move even lower. Let’s get down to the charts.

Bitcoin (BTCUSD — MT Bearish, ST Bearish)

Ehtereum (ETHUSD — MT Bearish, ST Bearish)

Ripple (XRPUSD — MT Bearish, ST Bearish)

Bitcoin Cash (BCHUSD — MT Bearish, ST Bearish)

EOS (EOSUSD — MT Bearish, ST Bearish)

Forex Markets

The move in the Dollar index signifies Greenback is all set to resume its bullish run trending closing to the previous high – maybe fourth time will be the charm. European pairs were the weakest with the Iranian Rial falling to historic lows of 100,000 against US Dollar. Bank of England & Indian central bank raised interest rates while BoJ quashed concerns of changing the loose monetary policy. Another busy week for Economic calendar next week with interest rate decisions from Australia & New Zealand, U.S & Chinese CPI, Canadian employment numbers and Britain & Japan’s GDP data.

EURO (EURUSD — MT Bearish, ST Bearish)

POUND (GBPUSD — MT Bearish, ST Bearish)

YEN (USDJPY — MT Neutral, ST Bearish)

LOONIE (USDCAD — MT Neutral, ST Bearish)

AUSSIE (AUDUSD — MT Bearish, ST Neutral)

Equity Markets

U.S. equities finished the week higher & stronger despite the continued trade spats between the two biggest economies of the World. Right now nothing seems to be stopping the American markets from trending higher on the back of another good season for earnings once again diverging from other major financial markets. Let’s talk some numbers.

U.S. — DJIA (+0.05%), S&P 500 (+0.76%), NASDAQ (+0.96%),

Europe — FTSE100 (-0.55%), DAX (-1.90%), CAC 40 (-0.59%)

Asia — Nikkei 225 (-0.83%), BSE Sensex (+0.59%), Shanghai 50(-4.42%)

S&P 500 bounced off the 20EMA to close bullish for the week aiming for the previous high staying in a bullish channel going all the way back to April. No reason to worry at this point with the support in tact around 2815 too. In other news, Sonos (SONO) cut the price of its listing to $15 a share for its IPO, below the expected range of $17 to $19 but traded as high as $23.50 before closing around $21.

Trade idea of the week to sign off on things — JBHT