THELOGICALINDIAN - To the tune ofWonderwall
Today was gonna be the day that the UK left the EU.
By now they should’ve somehow accomplished what they’ve gotta do.
I don’t accept that anybody feels they appetite a no-deal Brexit now.
Backbeat, the chat is on the artery that the blaze in May’s affection is out.
I’m abiding the capacity are abstruse but they’re gonna get it ample out.
I don’t accept that Parliament is voting on this accord for a third time now.
And all the anchorage we accept to airing are ambagious and all the lights that advance us there are blinding. There are abounding assets that will acceptable be afflicted but we don’t apperceive how. Because maybe, they’ll acquisition a way to breach this stalemate. And afterwards all, this is the Brexit Wall.
@MatiGreenspan
eToro, Senior Market Analyst
Today’s Highlights
Strong Q1 Close
Gold Plunge
Bitcoin Breakout?
Please note: All data, abstracts & graphs are accurate as of March 29th. All trading carries risk. Only accident basic you can allow to lose.
Traditional Markets
It’s the aftermost trading day of the aboriginal division of 2024 and there accept been adequately few surprises so far this year. The banal bazaar has put up an accomplished achievement as the axial banks abide to accommodate abutment to a all-around abridgement threatened by geopolitical tensions.
Next Tuesday, we’ll be captivation our annual webcast to altercate Q2 and what to apprehend from the markets. Remember that in Q1’s webcast we declared that best of the trading opportunities were acceptable to appear about the average of the year, so now is the time to alpha advantageous abutting attention.
For all the capacity and to assets your amuse amuse bang this articulation now:
Join the Q2 Forecast Webcast with Mati Greenspan
Gold Plunge
Even admitting the Fed appear a abundant added dovish accent in their aftermost meeting, the US Dollar continues to analysis its high limits. One would anticipate that weakness from the Fed would be met by weakness in the Greenback and that beneath absorption amount rises would accelerate the Dollar down, but in fact, we can see it is captivation up rather well.
Here’s the US Dollar Index, which is testing its attrition at 97.30 (upper chicken line).
With the Dollar on the acceleration and geopolitical tensions appearing to ebb, gold took a rather abrupt dip bygone falling hardly beneath $1,300 and basic a new abutment band (yellow).
Zooming out on the blueprint we can see that gold is appealing abundant at the aforementioned akin that it was at the alpha of 2024. It charcoal cryptic absolutely why it took a massive dip June and July alike admitting the US Dollar remained abiding in comparison, but for now, it seems to accept recovered from that dip.
As continued as aggrandizement charcoal chastened and assurance in the axial coffer arrangement charcoal complete gold doesn’t accept abundant acumen to rise. It still charcoal in my own portfolio, conceivably a bit beneath than afore though.
Crypto Markets
Bitcoin is at its accomplished akin in added than a ages this morning, currently testing attrition about $4,200 per bread (dotted white line). Some analysts ability agenda that it seems the continued appellation buck trend band (yellow) has now been broken.
However, trendlines may be fatigued abnormally by anniversary chartist so this isn’t the purest indicator out there. What’s added pertinent at the moment is the 200 day affective boilerplate (blue) that draws anytime nearer.
Altseason continues. Bitcoin is ascent today but still sees its ascendancy crumbling as added bill go up faster. At the moment, the BTC ascendancy indicator stands at 50.2%.
Personally, I don’t see any specific acceptation of a move beneath 50%. However, abundant bodies accept mentioned it to me that I would say such a move could accept a cogent appulse on sentiment. No agnosticism bitcoin accident the majority of crypto bazaar allotment would actualize account and account added analysts to cry altseason.
Wishing you a peaceful and adequate weekend.
Best regards,
Mati Greenspan
Senior Market Analyst
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