#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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#Crypto

▫️ Crypto market plunged below $2 trillion, losing 4.8% on the day;

▫️ #Bitcoin fell to $55.5K on Wednesday morning, likely targeting $54K;

▫️ #Ethereum fell to $2380, risking a retest of $2100.

#MarketReview

▫️ Stock market volatility has risen again, with the S&P500 down 2% and the Nasdaq100 down over 3%;

▫️ The #SP500 is consolidating near the 50-day MA, a break below which opens the way to 5150 (-7%);

▫️ The #Nasdaq100 is already below its 50-day MA and technically open to 18200 (-4%).

#EconomicReview
▫️ Eurozone PPI have risen sharply in the past two months;

▫️ Business activity indices, however, point to weakness in manufacturing and growth only in services;

▫️ ECB unlikely to reconsider rate cuts as price rises have more to do with tariff wars than an overheating economy.

#WaveAnalysis

▫️#GBPJPY reversed from resistance level 192.40;

▫️ Likely to fall to support level 188.00.

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#WaveAnalysis

▫️#WTI crude oil broke key support level 71.40;

▫️ Likely to fall to support level 68.00.

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#Crypto

▫️ Crypto market continues to tread water around $2 trillion despite a calm in stocks;

▫️ #Bitcoin loses 9th out of last 11 days, faces increased pressure in Asian session;

▫️ Kaiko points to BTC oversupply due to MtGox payouts and government sell-off.

#EconomicReview

▫️ US job openings fell to a 3-year low, but that's above 2019's peak;

▫️ ADP noted employment growth of 99K jobs, slowing after returning to the 15-year trend;

▫️ Weekly jobless claims have been falling steadily since July.

▫️ The labour market is not weak enough for an emergency rate cut

#WaveAnalysis

▫️#Gold reversed from support level $2475;

▫️ Likely to rise to resistance level $2535.

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#WaveAnalysis

▫️#AUDUSD reversed from support level 0.6700;

▫️ Likely to rise to resistance level 0.6800.

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#Crypto

▫️ The crypto market is once again cheaper than $2 trillion, failing to push back from that mark;

▫️ #Bitcoin slipped below $56K despite several bounces, a weaker dollar and a stronger dollar;

▫️ Mining profitability hit a record low, leading to a 15% fall in public miners' capitalisation.

#Market Review

▫️ In the FX market, safe havens have returned to early August extremes;

▫️ #USDJPY is back near 142, forming a death cross;

▫️ #USDCHF was in uncomfortable territory for the NBS, forcing further rate cuts;

▫️ #USDCNH has moved into the safe haven category.

#WaveAnalysis

▫️#EURCAD reversed from pivotal support level 1.4900;

▫️ Likely to rise to resistance level 1.5100.

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