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Stocks and crypto have been moving largely in tandem, and are currently having a rebound against the larger downtrend.
How long will this rebound last, and when will the downtrend continue?
Stay tuned on our “Daily Trading Signals” Telegram channel to find out!
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For our weekly market wrap, we go through some of the trade calls and analysis from last week, which gives us valuable insights for the week ahead.
We cover 3 main markets with a total of 200+ counters, so we will never run out of trading opportunities:
- Forex, CFDs, commodities, bonds
- US stocks, ETFs, global stock indices
- Cryptocurrencies, crypto indices
By covering a broad range of markets, we can focus our attention (and capital) on whichever market currently gives the best returns.
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Forex & Commodities Market Highlights
With oil and commodities on an uptrend, it is no surprise the commodity-linked currencies are at the top.
Name: British Pound / Canadian Dollar
Analysis: The strong downtrend continues after a small pullback. We can try to continue riding the trend.
EP: Current price, or on pullbacks
Name: Australian Dollar / Japanese Yen
Analysis: There was a nice pullback to the support level in the form on a large bull flag.
Though it is a bit late because price has moved quite a bit from the flag breakout point, we can still look to enter on pullbacks.
EP: Enter on pullbacks
Stock & Bond Market Highlights
Just writing Global Macro Investor over the weekend and as ever, I like to share a few insights.
The narrative on Twitter is that tech is dead. The reality is that the Nasdaq has just reverted back to trend – 150 week moving average 1/ pic.twitter.com/JpEi0754Si
— Raoul Pal (@RaoulGMI) May 30, 2022
Product: US Stock Index
Name: NASDAQ 100
Analysis: The rebound is pretty strong, and on this 4-hour chart, it has formed a double bottom, broke out, and formed a bull flag at the breakout point.
We can consider taking a short-term trade by going long now with a tight stoploss.
EP: Current price
Click here to receive all these signals in real-time for only $67 a month! You will get 5-10 signals a day, and even taking just 1 trade the whole month can easily cover the fee, so what are you waiting for?
Good luck, and may next week bring more excellent profits!
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Spencer is an avid globetrotter who achieved financial freedom in his 20s, while trading & teaching across 70+ countries. As a former professional trader in private equity and proprietary funds, he has over 15 years of market experience, and has been featured on more than 20 occasions in the media.