WHAT’S HAPPENING IN THE FOREX MARKET?
Everywhere was pretty quiet yesterday and then came the FOMC that turned things around.
Back to back Dollar weakness is helping the majors, Gold and Bitcoin with decent volatility.
Bitcoin is definitely on steroids this week, seems there’s no stopping the crypto. It’s now making new highs as the 2017 highs has now been taken out. Definitely should act as Support now and would wait for a pullback to go long.
Not sure it’s advisable to Short the BTC anytime soon even though it needs to rest (exhaustion).
On the flip side, the Bitcoin crypto is where the Sellers want it to be. Not sure if that makes sense but just look at it now, $22,000 with over $3,000 movement from this week.
The question is, “How much higher can it go this week?”
(It definitely has to take a breather after yesterday’s outburst)
Lots of breakouts from yesterday is what we have been waiting for, now we wait for pullbacks for continuation.
Protect your account accordingly by using Stop Loss & proper Risk Management