Get the Forex Forecast using fundamentals, sentiment, and technical positions analyses for major pairs for the week of May 23, 2022 here.
that the best trades for the week were likely to be:Short of BTC/USD following a daily close below $28,800. The price closed Monday at $28,681 but ended the week 2.33% higher from there.
but now seems to be having little effect beyond weighing on global stock markets and keeping the price of Wheat relatively high. Of course, there are other fundamental factors weighing on stock markets,There is a risk-off sentiment gripping markets, but it is expressed mostly in falling stock markets and bearish action in cryptocurrencies, with the market currently treating these as the major “risk” assets.
Cryptocurrencies continue to look very weak, but it is notable that Bitcoin buyers are stepping in when Bitcoin threatens to break down below $28,607. It should be said the price action is weak, and there remains a serious and immediate danger of strong falls in major cryptocurrencies.
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