The forex, commodity and crypto markets have been going bonkers during their intraday sessions over the last couple weeks. There are some clear signs of final distribution and trend changes coming. A good amount of this change has to do with the strength of the US Dollar, but there should be some nice short-term weakness in the greenback. What has been fun to observe is that cryptocurrencies have been responding in a very sensitive way to the US Dollars moves, almost as sensitive as any forex USD pair.

 

ETHUSD

There was a beautiful bounce off two Gann angles earlier this morning/afternoon that have propelled Ethereum back above the 1 hour cloud and both the Conversion and Base lines. The lagging span is current trading within the candlesticks. This is the definition of an impending breakout zone (if we can get a breakout!). The entry zone is not far above us, sitting at 616.53.

Entry: 616.53

 

BTCUSD

This is such a close area, it’s almost a tease. Right above the current price – about 200 bucks away – is the breakout into a new angle range which also turns into the lagging span crossing above price and giving us the final entry zone we need to long on Bitcoin. It’s such a close, close, area right now. If the DXY (dollar index) experiences more weakness during the Sydney and Tokyo sessions, we could see a big breakout.

Entry: 7788

 

XLMUSD

Very similar to Ethereum and Bitcoin, Stellar has an impending breakout in the Ichimoku system. What makes the breakout zone different than the prior two charts is the proximity of its breakout zone and how close that breakout condition can happen. In all actuality, Even a few cent drive higher would trigger a long condition with the lagging span crossing above price.