Brad Alexander
FX Large Limited
Over the weekend, Donald Trump posted that he wants to move forward with a US crypto reserve.
Look what happened.
Bitcoin BTCUSD opened with a gap this morning jumping $10,000 in value.
Of course, with Bitcoin, and the current White House, anything can happen but we see the stochastic oscillator is very overbought and thinking about turning over.
Speaking of the White House and Donald Trump — the tariff king — we see the US Indices recovering.
If the tariffs against Mexico and Canada go ahead, or are postponed again, watch for volatility on indices like the S&P500, USD, CAD, Gold, and MXN.
USDMXN broke this huge double bottom late last year and we had the weakest MXN in 3 years.
Gold has rallied today and we may be seeing a bearish technical signal but be careful.
Anything can happen tomorrow and any news on Ukraine could send price action on gold in either direction.
We are seeing similar price action on silver.
We see EURAUD at resistance and the stochastic oscillator very overbought.
Both of these currencies will be in focus this week with Australian GDP on Wednesday and a European Interest Rate decision on Thursday.
While we may offer market commentary based on fundamental or technical analysis, we do not offer trading advice and cannot be held liable for any decisions taken by viewers and readers of our material.
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EUR/USD stays defensive near 1.1350 as US Dollar looks to stabilize
EUR/USD remains on the back foot for the second consecutive session, trading near 1.1350 in the European trading hours on Tuesday. The pair weakens as the US Dollar attempts to regain stability amid the US-China trade war and growing concerns over US recession. German/ EU data are awaited.
GBP/USD battles 1.3200 after UK jobs data
GBP/USD is defending minor bids near the 1.3200 mark in the early European session on Tuesday. The latest data from the UK showed that Unemployment Rate steadied at 4% in the quarter to February while Average Earnings disappointed, weighing negatively on the Pound Sterling.
Gold price retains its positive bias above $3,200 amid US-China trade war, bearish USD
Gold price regains positive traction as US tariff uncertainty continues to underpin safe-haven assets. Bets for aggressive Fed rate cuts in 2025 keep the USD depressed and also benefit the XAU/USD pair.
XRP resilient amid looming ETF deadlines
Ripple (XRP) flaunted a bullish outlook, trading at $2.1505 at the time of writing on Tuesday. Investor risk appetite has continued to grow since the middle of last week, propping XRP for a sustainable upward move, eyeing $3.0000 psychological level.
Is a recession looming?
Wall Street skyrockets after Trump announces tariff delay. But gains remain limited as Trade War with China continues. Recession odds have eased, but investors remain fearful. The worst may not be over, deeper market wounds still possible.
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