Market situation 5/12/2022

MARKET_WATCH Crypto

Starting this week on the same path as the last week meaning that the drivers of the traditional market remain a focus on the inflation KPI and the ability of the US stock market to exit from the bear market that started last year at the same period.

 

๐Ÿ‘‰ Looking at #SNP500 the daily chart shows the index at key graphical resistance and close to 4110 resistance to breaking in daily close to confirm the exit from the corrective pattern = this is the key element to watch to maintain a bullish scenario for the next week on Risky asset class (3650 and 3880 key support for a direct upside break)
 

FjNRo7JXgAIB601.jpeg

 

๐Ÿ‘‰ #USD Weakness is also important in the global macro picture, and here we can also be confident with a further USD weakness looking at #EUR/USD chart

 

1,0260 daily support for direct test of 1,07 area then 1,002 to watch for a larger rise towards 1,0850
 

FjNSxguXwAMASnH.jpeg

 

FjNS1XRWIAAHsP6.jpeg

 

๐Ÿ‘‰ 10Y breakeven (St louis) is more mixed this week a head of the next Jerome Powell decision (fed) = rate hike expected at 0,75 but more comment from FOMC members shows a possible 0,50 rate hike for next Fed Meeting.


 

๐Ÿ”The market should stabilized (SNP500) in an ascending range to be ready to kick off in case of more dovish comment from Powell.


 

 

FjNTfI2WIAA8SWM.jpeg

 

๐Ÿ‘‰ US10Y Yiled remains under pressure below 3,90% a head of the Fed meeting which is also align with a further risk appetite mood on risky asset class.


 

FjNT8VtXkAIaNkC.jpeg

 

๐Ÿ‘‰ #ETH & #BTC align with SNP500 still oriented to the upside with the BTC resistance at 17200 bypassed this week end. Both of them are now pushing up to be align with recent SNP500 recovery (= FTX bad mood absorbtion) 

๐Ÿ‘‰We should not see a direct beak of 1350/1450 upside break of ETH without a bypass of 4110 on SNP500


 

I recommend to stay prudent once this resitance is being reached because crypto market will not break alone those key resitance, crypto need the traditional market validation first to maintain the current recovery dynamic.


 

๐Ÿ”First support to watch on #ETH at 1260 and 1200


 

FjNUpqAXoAAsRLd.png

 

๐Ÿ”First support to watch on #BTC at 16900 and 16400


 

FjNU4iPWQAEuDvX.jpeg
 

Don't hesitate to reach our Telegram ''Market Minds'' Group to follow our expert insights => https://t.me/MarketMindsTeam

 

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Disclaimer: 

 

The information contained in this site is for educational purposes only to help you make the best decisions and does not constitute investment or financial advice. Please do your own research before making any investment decisions. None of the information contained in this site constitutes, nor should it be construed as, a suggestion, offer or other solicitation to engage in or refrain from engaging in any purchase, sale or other investment related activity. Cryptocurrency investments are volatile and high risk in nature. Don't invest more than what you can afford to lose.


 

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