I think you should fade rallies as they occur, at the first signs of exhaustion.

The euro rallied a bit on Friday as we continue to dance around the 1.06 level. The 1.06 level has been a significant amount of resistance multiple times, and it’s likely that we will continue to see sellers every time we get close there. Ultimately, I’m looking for signs of exhaustion that I can jump on,  and we could go looking to reach down to the 1.05 level.

If we break down below the 1.05 level, then the market could go to the 1.04 level. The 50-day EMA sits just above, showing signs of technical resistance, especially near the 1.0650 level. This is a market that I think given enough time will continue to try to break down below the 1.04 level. If we break down below the 1.04 level, then it opens up the possibility of a move down to the 1.02 level, followed by the period level.

The ECB has a serious problem on its hands, and that is in the form of Italian bonds. If bonds continue to spite, governments run into trouble, and the ECB can only tighten so much. They have suggested that there are a couple of quarter-point interest rate hikes coming, but that pales in comparison to what we’re going to see coming out of the Federal Reserve. In other words, it does make sense that this pair continues to draw from here. The market has been rather choppy over the last six or seven days, and at this point, I think it is only a matter of time before we get an impulsive candlestick that we can trade.

It’s not until we break above the 1.08 level that I would consider this market changing its attitude, and even then I think you have a lot of concerns. I think you should fade rallies as they occur, at the first signs of exhaustion. Ultimately, the markets continue to see more downward pressure than anything else, but the double bottom underneath could be a significant amount of support and it might be difficult to get below it. Because of this, keep in mind that the market will continue to be one in which you need to be careful with your position size, but once we blow through the bottom, it’s likely that we will go much lower and in an aggressive manner.

The recent trading sessions are characterized by the presence of a strong and sharp struggle between bears and bulls to determine the direction of gold. The price of the yellow metal is in a range between the level of $ 1857 an ounce and the level of $ 1835 an ounce. The gold market awaits strong stimuli to determine the path, and the reaction may be to the statements of US Central Bank Governor Jerome Powell, the strongest influence on the US dollar, and therefore the price of gold. The price of gold is still looking for catalysts to rise in the face of the pace of raising interest rates from global central banks.

Last week, the Federal Reserve raised the US short-term interest rate by three times the usual amount for its largest increase since 1994. It may consider another huge increase at its next meeting in July. Last week’s report on the US economy also showed that industrial production was weaker last month than expected. Markets are preparing for a world with higher interest rates, led by the actions of the Federal Reserve. Higher rates can bring down inflation, but they also risk triggering a recession by slowing the economy. It also tends to hurt the price of stocks, cryptocurrencies, and other investments.

Accordingly, testimony on monetary policy by Federal Reserve Chairman Jerome Powell before the Senate Banking Committee and the House Financial Services Committee is scheduled for later this week.

Generally speaking, two of the three largest economies in the world, namely China and Japan, do not engage in raising interest rates, unlike the US Federal Reserve and central banks in many other countries. Fears that the global economy could slide into recession if planners push forward aggressively with higher interest rates and other moves to tighten monetary policy have sent markets tumbling after stock prices surged thanks to massive support during the pandemic.

Last week, the BoJ stuck to its near zero interest rate policy despite concerns about a weak yen.

According to the technical analysis of gold: the price of gold and according to the performance on the daily chart is still in a neutral area. The tendency will be to the downside if the investors move to the support levels of 1825 and 1810 dollars, respectively. I still prefer the trading strategy for the price of gold by buying from every bearish level, especially if it moves to break the $1800 support again. The price of gold may remain under pressure until the reaction from the testimony of US Federal Reserve Governor Jerome Powell this week.

Increasing global geopolitical tensions, fears of a global economic slowdown and the suspension of the US dollar from making gains may motivate the gold price to rise towards the resistance levels of 1855 and 1878 dollars, respectively, which are levels that stimulate the bulls’ control of the yellow metal market.

Avoid all of the smaller projects unless you are willing to sit through a lot of volatility,

Fantom continues to look stagnant at best, as it hangs just above the $0.25 level, and seemingly has nowhere to be. Crypto markets, in general, continue to fall apart, so these other more exotic cryptos will continue to suffer at the hands of a complete lack of interest. At this point, it looks as if a breakdown below the $0.25 level is all but assured, and at that point, we have to wonder what happens next?

A lot of this is going to come down to whether or not there is a use case scenario for Fantom. While the ecosystem is one that has attracted a lot of attention recently, it’s worth noting that the market is down roughly 92% this year, and therefore it’s difficult to imagine a scenario where things could get worse, but the catch is that something that has fallen 92%, can also fall another 92%.

We are entering a very dark time for crypto, as this “crypto winter” is likely to be much more damaging than the last one. At this point, there are a lot of crypto markets that are going to completely disappear, because there are far too many out there chasing the same problem. In a lot of ways, it seems as if crypto is a solution looking for a problem. Furthermore, with central banks very likely to continue working with the idea of digital currencies themselves, it is more likely than not that a lot of these cryptocurrencies, at least the ones that are considered to be “money”, will completely disappear in the next year or two.

Because of this, you should avoid all of the smaller projects unless you are willing to sit through a lot of volatility, risk the reality of it going to zero, and then have a longer-term outlook. I mean, it’s possible that this market goes to the highs again, but it will need to see other ecosystems such as Bitcoin and Ethereum really start to take off before people are willing to put money toward the smaller markets like Fantom. In other words, this is essentially “dead money”, and therefore if you have the ability to short this market, that might be the play here. The question isn’t so much as where we can go, but whether or not we will be going anywhere any year.

I believe it is only a matter of time before we get an impulsive daily candlestick to see a continuation of the momentum and a market that could continue much higher.

Ethereum went back and forth on Tuesday as we continue to struggle with the idea of the $3500 level. This is an area that has a certain amount of psychology attached to it, as well as previous market action. The fact that we continue to pierce this area is a good sign, as is the fact that the pullbacks have been very shallow over the last couple of days. Nonetheless, we have not broken out cleanly, so we need to wait and see whether or not we can get some type of follow-through.

Ethereum is a market that will have a major influence on several other coins, and it is worth noting that the 50-day EMA in Ethereum has started to rally a bit, and it is getting ready to cross above the 200 Day EMA, showing a potential “golden cross” in this market. If we do break above there, the market is likely to go much higher, perhaps reaching even higher levels such as $4000, maybe even the $4500 level. Furthermore, we have also broken out of a major W pattern, which has a measured move of $4500 or so as well.

We have recently seen the merge in the Ethereum blockchain start to make headway, and it is likely that we will continue to see adoption pick up, so Ethereum should rally. There is at least some type of fundamental news to drive Ethereum higher, unlike many other coins. That being said, as blockchain operations continue to expand, Ethereum should be one of the longer-term winners, and this is a bet on decentralized applications. That has not changed, even though we recently had a major pullback. Now that we are messing around with the $3500 level, I believe it is only a matter of time before we get an impulsive daily candlestick to see a continuation of the momentum and a market that could continue much higher.

On the downside, if we were to break down below the lows of last week, that could open up the possibility of a move to the $3000 level, but that seems to be a lot less likely based on the action that we have seen recently. The market has been very bullish over the last couple of months, and I have not seen that change.