Weekly Forex Forecast \u2013 NASDAQ 100 Index, Gold, Bitcoin, USD

than last week, due to ongoing fear of bank contagion and the US Federal Reserve’s policy meeting which may bring yet another rate hike. This week’sUS Federal Funds Rate, FOMC Statement & ProjectionsUS Unemployment ClaimsIt will be a public holiday in Japan on Tuesday.the U.S. Dollar Index printed a bearish candlestick continuing the rejection of theThe candlestick is a bit small but has a substantial higher wick, suggesting bears are decisively in control here.

. Stock markets have been shaken by the ongoing banking crisis, but we are seeing many tech shares making big rises as US inflation continues to fall, taking pressure off the Federal Reserve to continue hiking rates as the US 2-Year Treasury Yield declined by more than 1% in about a week.

Much will now likely depend upon whether the US Treasury can restore faith that banking contagion will not spread, and what approach the Fed takes towards rates on Wednesday. Trend and breakout traders should seriously consider buying Bitcoin even just on these technical indications. The deeper reason why Bitcoin is rising is probably due to the decline in the US Dollar as a safe have due to the banking crisis, and due to the banking crisis, itself. Gold also seems to be playing a similar rose to Bitcoin now.

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