Performance – xMetaMarkets.com / Online Innovative Trading Facility Fri, 08 Jul 2022 00:09:16 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.1 /wp-content/uploads/2022/07/cropped-Logo-menu-32x32.png Performance – xMetaMarkets.com / 32 32 ETH/USD Forecast: Ethereum Sees Lackluster Performance /2022/07/08/eth-usd-forecast-ethereum-sees-lackluster-performance/ /2022/07/08/eth-usd-forecast-ethereum-sees-lackluster-performance/#respond Fri, 08 Jul 2022 00:09:16 +0000 https://excaliburfxtrade.com/2022/07/08/eth-usd-forecast-ethereum-sees-lackluster-performance/ [ad_1]

Ultimately, this market goes lower.

  • Ethereum was very quiet on Wednesday as with very little in the way of momentum. 
  • The market has been consolidating for a while
  • We are going to simply trade back and forth between the $1250 level above, and the $900 level underneath.
  • As the market continues to go back and forth, it looks as if we are either trying to build a bit of a base, or we are getting ready for the next leg lower.

The Next Leg Lower

At this point, I suspect that the next leg lower is probably going to be the most likely outcome. Because of this, the market is more apt to simply grind away until we get some type of fundamental reason to get moving. If we were to break down below the $900 level, then it opens up the possibility of a move down to the $500 level. The market could get down there rather quickly on some type of bad news, not the least of which would be a strengthening US dollar which seems to be all but a formality at this point.

If we were to break above the $1250 level, then it’s possible that we could go to the 50-day EMA which currently sits at the $1500 level. After that, the $1750 level is the next target, which we have broken down from. I highly doubt that we can get above there, and I think that as long as we have a strengthening US dollar and a tightening Federal Reserve, it’s difficult to imagine that some of these more risk appetite-sensitive assets will do well. In fact, Ethereum is going to get smoked as long as money is not willing to take a significant amount of risk as this is about as risky as it gets for most institutions.

Fading rallies continue to work from what I can see, especially as Ethereum 2.0 drags on, as we have no real catalyst for the market to go higher. However, the Federal Reserve will eventually change its tune, and when it starts to talk about loosening monetary policy, it’s at that point that crypto, and by extension Ethereum, could get a bit of a push to the upside. Ultimately, this market goes lower.

ETH/USD

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EUR/USD Forecast: Lackluster Performance on Monday /2022/07/05/eur-usd-forecast-lackluster-performance-on-monday/ /2022/07/05/eur-usd-forecast-lackluster-performance-on-monday/#respond Tue, 05 Jul 2022 23:35:43 +0000 https://excaliburfxtrade.com/2022/07/05/eur-usd-forecast-lackluster-performance-on-monday/ [ad_1]

It’s difficult to get bullish on this pair anytime soon.

The euro initially tried to rally against the US dollar during Monday trading, but gave back almost all of the gains in yet another sign of weakness. Monday was Independence Day in the United States, so obviously volume was a major issue. The fact that the euro could not capitalize on the lack of American trading probably says more than I ever could about the overall direction of this market.

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Bond yields in America continue to climb and outperform the European Union. Because of this, the pair is more likely than not to continue going lower. I will continue to fade rallies, as I see so much in the way of noise above. The 1.06 level looks to be extraordinarily resistive, while the 1.08 level is essentially the “ceiling in the market” at the moment. We would have to break through all of that for me to start to explore the idea of a trend change.

On the downside, the market clearly has been negative for some time, and we have broken through the bottom of the 1.04 level couple of times, so if we were to make a “lower low”, that would be nothing but negative for the euro going forward. I do believe this will happen given enough time, with the euro looking to reach the 1.02 level, followed by the parity level sometime later this summer. With the ECB doing everything it can to keep the economy limping along, it’s very unlikely they will be able to do more than a token interest rate hike or two. At this point, the consensus is that they may do 50 basis points. On the other side of the equation, you have the Federal Reserve which hass already promised yet another 100 basis point rate hike, so it will continue to make US bonds much more attractive, most certainly above the European Union.

Ultimately, the direction of this pair is probably in the hands of the Federal Reserve than anybody else, but we also have external factors such as the war in Ukraine, the lack of energy in Europe, and the fact that there is such a huge dichotomy between all of the member states as far as where they are economically. With that in mind, it’s difficult to get bullish on this pair anytime soon.

EUR/USD

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