FxWirePro- Currency Strength Index (4- Hour chart)- Currency pairs to watch(AUDUSD and CADJPY) for the day
FxWirePro- Bull and bear case
BTCUSD gained more than $1000 after US Fed monetary policy. The demand for riskier assets increased as the fed did not consider aggressive rate hikes in near future. It hits a high of $40050 and is currently trading around $39555.
Levels to watch- $37000. Any violation below will drag the pair to the next level to $34000/$30000.Significant demand zones are around $30000. A breach below that level will pull the BTC to $24900.
Primary supply zone -$40500. The breach above confirms minor bullishness. A jump to the next level of $41700/$43000 is possible.
Secondary barrier- $43000. A violation above that barrier targets $46000/$48300.
CCI (50) holds above the zero line in the 4-hour chart.
It is good to buy on dips around $38500 with SL around $36000 for TP of $43000/$46000.
ETHUSD recovered after hitting a low of $2969 following the footsteps of BTC. It hits an intraday high of $2953 and is currently trading around $2795.
Levels to watch- $2800. Any violation below will drag the ETH to near-term support of $2600/$2490. Major demand zones are $2300-$2150. A breach below targets $1700.
Primary - Barrier- $3045. Any breach above confirms an intraday bullishness. A jump to $3180/$3275.
Secondary barrier- $3600. A breach above that barrier targets $4000/$4500.
It is good to buy on dips around $2850-60 with SL around $2700 for TP of $3179.