The S&P 500, gold, bitcoin and soybeans do chart bullish to me for next week. In contrast, the yen, euro, pound, Aussie, and crude show some bearish technical conditions for next week-quarter from monthly charts already noted. The short call spread weekly trade ideas in these is derived from bearish candlesticks in multiple time frames, volume and Fisher indicators, and range extension this week. clear. The Aussie, euro, soybeans and British pound show trending pivots for next week, and the yen (two-time frames), gold (two-time frames), Aussie, bitcoin and soybeans have range compression that also can produce wider weekly ranges than average.
Two recent criminal enforcement actions against individual cryptocurrency exchanges, including one offering to do business with a small-level marijuana business in California, indicate that federal agencies are using anti-money laundering laws as a vehicle for oversight over transactions involving cryptocurrency and proceeds from the sale of cannabis.
Some breakout setups with forthcoming trending weekly pivots are in place for the week in the euro, pound, crude oil, gold by pivot and range math, and the Aussie by daily narrowed range breaking higher. Going long the Aussie, crude and gold today (Friday) are weekly-expiration, daily candlestick trade ideas.
With four central bank meetings and some top-tier data to look forward to as well, things could get quite interesting in the markets this week. But at the start of the week, there’s not much clarity with the dollar continuing to push higher against commodity currencies but trading mixed against the European currencies.
Some trending markets, such as gold, the euro and bitcoin may continue their behavior into next week. I’m bullish-sideways for next week on all symbols I track, except the yen, soybeans and bitcoin, due to understudies. The Yen, Beans, and Bitcoin chart bearish to me. The breakout candidates for this coming week are the Euro (monthly pivots are equal to last month, plus trending weekly pivots), gold (bullish), soybeans (bearish hammer) and bitcoin (bearish).
The crypto carnage that started at the end of last year may have ended at the start of February. In recent weeks, prices have stabilized across the board as fears over the clampdown on crypto exchanges abated.