Weekly Technical Outlook: Taking A Look At BTC/USD, NASDAQ, and EUR/NZD’s Developments

If tendencies are merchants’ mates, then Imma be your BEST good friend as a result of we’re taking a look at not one, not two, however THREE tendencies on the day by day timeframe.

Who’s up for buying and selling BTC/USD, NASDAQ, and EUR/NZD this week?

I hope you’re as a result of their tendencies (breakouts?) are to not miss!

BTC/USD Daily Chart
BTC/USD Each day Chart

Bitcoin HODLers had a VERY attention-grabbing weekend when BTC/USD dropped to the $42,300 ranges sooner than they might say “Lambo.”

BTC/USD is now chillin’ slightly below the $50Okay mark and it seems prefer it simply missed a pattern line assist. Its 200 SMA assist stays intact although!

Bearish momentum beneath yesterday’s lows may drag BTC to assist ranges like $46,000 close to the 200 SMA or the $41,500 zone that’s near a key inflection level.

If the bulls resolve to take cues from El Salvador and purchase the dip, although, then we may very well be taking a look at a transfer again as much as the $54,000 or $57,000 earlier areas of curiosity.

NASDAQ: Each day

NASDAQ Daily Chart
NASDAQ Each day Chart

Tech inventory bros (and sistahs) huddle up! NASDAQ registered its second (large) shedding week final week and now the index is buying and selling across the 15,700 mark.

As you possibly can see, its present ranges line up with not solely the 50% Fib retracement of October to December’s upswing but additionally the index’s highs again in September.

Consumers who’re ready for cheaper ranges might anticipate a retest of the day by day chart’s 100 SMA or a transparent oversold sign from Stochastic.

When you begin to see inexperienced candlesticks, nonetheless, then y’all needs to be prepared to purchase the index all the way in which to its November highs!

EUR/NZD Daily Forex Chart
EUR/NZD Each day Foreign exchange Chart

Right here’s one for the euro bears on the market! EUR/NZD simply hit 1.6700, which is correct round a damaged vary assist on the day by day.

However who wants a break-and-retest play when the present ranges additionally line up with a pattern line resistance that hasn’t been damaged since March 2020?

Development warriors who’re in for extra euro promoting can anticipate purple candlesticks or not less than bearish momentum earlier than aiming for November’s lows.

Not satisfied that the euro can lose extra pips on the Kiwi? Look ahead to a transparent break above the pattern line, which opens EUR/NZD to a retest of the 1.7100 vary resistance on the day by day.

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