#WaveAnalysis

▫️#AUDUSD approached key resistance level 0.6795;

▫️ Likely to rise to resistance level 0.6865.

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#WaveAnalysis

▫️#Gold reversed from key support level 2475;

▫️ Likely to rise to resistance level 2535.

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#Crypto

▫️ Crypto cap has reached $2.25 trillion. - highest since early August. Sentiment index at 56 (greed);

▫️ #Bitcoin broke above its 50- and 200-day averages on Friday, and now the important task is to stay above;

#Toncoin consolidates near 200-day MA ($5.66) after a 15% drop on Durov arrest. The next major support levels are $4.3 and $2.5.

▫️ #Ethereum ETFs continue to see outflows approaching 0.5 billion since launch.

#Market Review

▫️ German Ifo Business Climate Index declines for 4th month, but slightly better than expected;

▫️ EURUSD paused near a 13-month high, retreating above the 200-week average.

▫️ The pair may move towards the 1.20 area in the coming months due to a weak dollar rather than a strong euro.

#MarketReview

▫️ The Dollar Index closed last week at its lowest level since July 2023, entered oversold territory on the RSI and touched the 200-week average;

▫️ The combination of short-term profit-taking by sellers and the normalisation of Fed expectations sets the stage for a rebound to the 101.7-102.5 area.

#WaveAnalysis

▫️#WTI crude oil reversed from a strong support level 72.40;

▫️ Likely to rise to resistance level 78.00.

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#WaveAnalysis

▫️#EURCAD reversed from the long-term resistance level 1.5115;

▫️ Likely to test support level 1.5000.

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#Crypto

▫️ Crypto cap fell 1.6% to $2.21 trillion following unimpressive stock market performance;

▫️ #Bitcoin pulled back below $63K, losing 1.4% in 24 hours and retreating below 200-day MA;

▫️ #Ethereum ran into resistance near $2800, previously a key support level.

▫️ #Toncoin approached $5 overnight, losing unevenly but on higher volume - a bad sign.

#Market Review #WTI

▫️ US oil production is back to a peak of 13.4mbpd, but drilling activity remains subdued

▫️ The price of WTI has encountered resistance above $77, where key moving averages (200 and 50-day, as well as 200 and 50-week) pass.

▫️ If pressure intensifies, the price may not find meaningful support until the $70-71 area, with the next support level at $64.

#EconomicReview

▫️ German GDP confirms more than two years of stagnation, losing 0.1% in 2Q24

▫️ Consumer climate index falls as economic expectations and propensity to spend worsen

▫️ #EURGBP back near 2-year lows, losing 2.2% in 3 weeks

#WaveAnalysis

▫️#USDCHF broke key support level 0.8450;

▫️ Likely to fall to support level 0.8330.

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#WaveAnalysis #KO

▫️Coca-Cola broke the resistance zone;

▫️ Likely to rise to resistance level 72.00.

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#Crypto

▫️ Cryptocurrency cap plunged 6% overnight;

▫️ #Bitcoin dipped below $58K at one point, consolidating below the 200 and 50-day MAs;

▫️ #Ethereum was below $2400 at the peak of its decline, threatening to head towards $2100;

▫️ The number of cryptocurrency millionaires exceeded 172K (+95% over the year).

#MarketReview

▫️ Nvidia's quarterly report, due after the close of trading on Wednesday, is important to the markets given the company's size and influence in recent quarters;

▫️ The options market is pricing in a 10% price change after the report, but we think the price will continue to move in the same direction;

▫️ In a bullish scenario, the price could rise to $220 from the current $127, while in a bearish scenario, the price could fall to $90.

#WaveAnalysis

▫️#EURCHF broke support level 0.9400;

▫️ Likely to fall to support level 0.9250.

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#WaveAnalysis

▫️#EURAUD falling inside impulse wave (1);

▫️ Likely to reach support level 1.6260.

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#Crypto

▫️ Crypto market cap has virtually unchanged overnight at $2.09 trillion;

▫️ #Bitcoin has found support on dips below $58K, but only a rise above $60K will indicate that this is not just a bounce, but growth;

▫️ #Ethereum has lost 4.2% market share over the year to 14.6% and is in danger of riding off into the sunset.

▫️ The political coin category (PolitiFi) has almost ninefold growth in capitalisation by 2024, against double the growth of all meme coins.

#Market review

▫️ Germany's #DAX40 returned to all-time highs faster than its peers, surpassing 18900.

The dip in early August fuelled buying appetite and triggered a classic technical correction.

▫️ The DAX40 is potentially heading for 19500 or higher to 21500.

#EconomicReview

▫️ German inflation slowed to 1.9%, weaker than expected, putting pressure on the euro.

In the US, revised data lifted the estimate for Q2 GDP growth to 3.0%.

▫️ Initial and continuing jobless claims were slightly better than expected but strong by historical standards.

#WaveAnalysis

▫️#EURUSD reversed from long-term resistance level 1.1150;

▫️ Likely to fall to support level 1.1000.

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#WaveAnalysis #DJI

▫️Dow Jones index broke resistance level 41280;

▫️ Likely to rise to resistance level 42000.

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