Squid Game, Bitcoin and EUR/USD

Netflix estimates “Squid Game” will be worth ±$900M. What were you watching this weekend? We’ve been diving into more charts with early Q3 earnings and Bitcoin futures ETF launch. Lots of fun!

The Japanese yen fell for the sixth week in a row, reaching its lowest level against the dollar since December 2018, and this decline is due to the widening of the yield differential between US and Japanese bonds, as the difference between them increased from 1.13% in August to 1.50%, with the Japanese bond yields settling at 0.08 %, while US bond yields approached 1.60%.

The Federal Reserve meeting minutes showed that the 18 members unanimously voted to keep interest rates in the range of 0.00% and 0.25%, with expectations that the raise will come during 2022.

Gold prices rose to $1800 per troy ounce after inflation numbers came in higher than expected. The annual inflation rate rose to a 13-year high at 5.4%, up from 5.3% in August and beyond market estimates of 5.3%.

EUR / USD

We are coming back to Eur Usd once more. Previous analysis for the currency pair to go down to 1.1550 level was totally on point and with that, we are looking for a retracement to continue to the downside. Correct, with quite strong lows created early last week, we are remaining bearish and have two things on the table!

Longs until 1.1650 level are a thing, especially with the bounce this morning confirming the setups right of the previous week 1.15723 level showing strong support. Yet, the pair is looking to continue bearishness to attack 1.1500 and go as low as 1.1450 mid figure. Let’s see and learn!