Although I expect a reaction to the 98-100 range for the DXY, the algorithms are still trying to push the price down. For a healthy decline, a reaction to the 98-100 range is more effective. The main target has been selling since 2023, and every breakout continues to be a selling opportunity. The main target is the 90-88 range, but if the movement becomes more aggressive, it could reach levels of 80 and below.
The Nasdaq technology index, which refreshes its momentum every week, continues its path.
The main support remains at 22,000, with intermediate support at 23,500. Above these two levels, the rise will continue to the 24,500-25,000 range. Those expecting a decline may be a bit more cautious. The main note is that corrections should be expected rather than sharp and large declines in products that have reached new peaks. The medium-term trend remains upward, and target prices will move towards the 27,000-29,000-32,000 range.
The overvaluation of the Euro has somewhat dampened the rise in the DAX, but positive sentiment will continue above 24,000 and 23,700. I expect it to continue on its path with a new ATH like the Nasdaq.
Anyone who didn't buy the SP500 at 5,000 is probably rebelling right now :)) It has narrowed the gap with the Nasdaq and is continuing its path. There's a clear saying that small investors should be shaken off before the market rises significantly. This is what happened in April. Congratulations to those who stayed in the market. The main target is the 7,000-7,500 range; if they overdo it, the 8,000 level could also be on the agenda.
Last week, I stated that we would discuss 3,380 after 3,430, and if we couldn't break through, we would fall to 3,310. 3,430 was not broken again, and we're down $100 again. The rise will continue in the medium term, but the price hasn't made a clear breakout and is stuck in the 3,200-3,400 range. Traders can continue to implement a buy strategy as it approaches 3200 and sell as it rises to 3400.
The main support level is $3000. As long as it remains above this level, a move to 4000 is inevitable. If we fall below 3000, demand zones are inevitable.
We saw another attempt at 40 ounces of silver last week, but it was rejected again. 40 is the psychological resistance level, and it will not attempt to break through it all at once. It will provide trading opportunities between 36 and 40 for a while. We maintain our medium-term target of $50+. Furthermore, any dip represents a buying opportunity.
Technically, after Bitcoin's recent breakthrough, the mindset of "let's sell some of the remaining products" has kicked in, forcing Bitcoin into a sideways zone for a while. If the 125,000 and 127,000 levels are broken with significant volume, altcoins will have the opportunity for further movement. My main target is the 180,000-210,000 range. In the short term, support is the psychological level of 100,000.
Frankly, I still don't think the 4100-4300 range will be permanently broken for Ethereum; I expect September at the earliest. Meanwhile, the altcoins that have laggardly experienced a surge. I expect the products that experienced a single giant green candle this month to pause for a while next month, and the remaining products to develop a single giant green candle. Ethereum should continue its sideways upward movement for a while longer. Below, 3400 is intermediate support. The main support remains at $3000, and we won't touch it for a while. The first round of altcoin gains should be around 8x, and they should continue to reach that level. If the product isn't performing, it's either expired or there's a problem with the coin itself. My strategy is to close the product that performed 14x-15x at its lowest point at 75%. Let the remaining bulls continue until the end. Of course, not every product will perform 10x-15x; some will perform 25x-30x-50x. Some will also perform just 3x-5x. When the expiration date arrives, I will exit the market without mercy and let you know. The rest will be up to you.
Brent oil had maturity changes this week, and the price opened below with a gap. This means the horizontal zigzags will continue for a while. Our main direction is down; while the market expects 120, those who sold with me at 80 are happy right now. Our target price is $55, and our wide band is $55-$75. Below $55 indicates further trouble.
1.15 has been support for short traders in the EUR/USD. Expecting 1.12 without breaking this level is unrealistic.
The era of King the Cash is approaching. Therefore, additional inflows into currencies continue. We used to have a king: DXY, but now the new king is the euro. Our only requirement is that it doesn't fall permanently below 1.10, then we'll head to 1.23-1.40 and ultimately 1.60. As long as it stays above 1.15, 1.20 is the target for short traders. The 1.23-1.25 range is the level where the door will open.
Technically, the USD/JPY has been trading between 152 and 142 for some time. The strategy is to sell as it approaches 152 and close as it falls to 142. If extreme news leads to an interest rate corridor or an extreme interest rate decision, 142 will be broken, bringing the ultimate target to 130-120.
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