#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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#Crypto

▫️ Crypto market lost 0.5% to $2.07 trillion, failing to hold off local lows for long;

▫️ #Bitcoin remains mostly in the $59-60K range;

▫️ OpenSea, one of the largest NFT venues, has been warned by the SEC that it could be sued for securities trading.

#MarketReview

▫️ #Gold price has hit a glass ceiling near $2525, but pullbacks are getting shallower;

▫️ The price chart and RSI are forming a bearish divergence.

▫️ Gold's short-term fate is determined by the Fed Funds rate outlook, which will be influenced by the NFP and CPI reports.

#WaveAnalysis

▫️#EURGBP reversed from strong support level 0.8400;

▫️ Likely to rise to resistance level 0.8440.

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#WaveAnalysis

▫️#CADJPY reversed from key support level 105.00;

▫️ Likely to rise to resistance level 110.00.

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#Crypto

▫️ The crypto market has rolled back to a total cap of $2 trillion;

▫️ #Bitcoin is down to $57.5K, showing a downward trend;

▫️ Kaiko fears authorities in the US, China, UK and Ukraine could realise their bitcoin holdings.

#Market Review

▫️ Crude Oil -2% on the week despite a strong start, and the technical picture looks ominous.

Meanwhile, US production, drilling and economic activity are broadly normal.

Gas prices remained near the lower end of the range for the past 25 years.

#WaveAnalysis

▫️#USDJPY reversed from support level 144.00;

▫️ Likely to rise to resistance level 149.35.

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#WaveAnalysis #Race

▫️Ferrari rising inside sharp impulse wave 3;

▫️ Likely to test resistance level 500.00.

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#Crypto

▫️ Crypto market is up 2.3% in 24 hours to $2.07 trillion, recovering to Friday's levels;

▫️ #Bitcoin just below $59K, pausing Monday's gains, remains below 50 and 200-day MAs and at the bottom of range;

▫️ #Tron's correction took the price to 0.1525 from a peak of 0.1680. A legitimate fix after the rally would make one cautious in case of a failure below $0.1430-0.1480.

#MarketReview

▫️ The dollar index has recovered a quarter of its losses since peaking at the end of July;

▫️ The rally is behind falling odds of a 50bp Fed rate cut in September, but uncertainty may persist until 11 September;

▫️ Further upside targets for DXY are 102.45 and 106.0.

#EconomicReview

▫️ Swiss consumer inflation slowed to 1.1% y/y, weaker than expected;

▫️ This paves the way for the third NBS rate cut this year;

▫️ #USDCHF is back below 0.8500, where it was only stable in 2011, forcing the central bank to push the franc out of that territory.

#WaveAnalysis

▫️#USDCAD reversed from key support level 1.3450;

▫️ Likely to rise to resistance level 1.3600.

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