Target Thursdays: US30, EURUSD & Bitcoin reach targets!

Check out these potential profits that you may have missed from our Daily Market Analysis.

• US30 bears pocket 633 index points

• EURUSD secures all bearish targets

• Bitcoin hits 2nd profit level

 

    1) US30 tumbles into major support

• Where and when was Target Price (TP) published?

As highlighted in our Week Ahead article on Friday, March 1st:

“Should 39300 prove to be reliable resistance, this could trigger a decline back towards 38500…"

 

• What happened since TP was published?

After failing to push beyond the 39300 level, the index kicked off the new week on a negative note amid uncertainty over rate cuts with a tech-selloff on Tuesday fuelling downside losses.

 

• How much in potential profits?

633 index points for traders who shorted the US30 from its intraday peak last Friday.

The negative momentum sent prices towards the 38500 support level with more volatility on the cards due to Powell’s testimony this afternoon and US jobs report on Friday!

 

    2) EURUSD slips during ECB meeting

• Where and when was Target Price (TP) published?

This technical scenario (EURUSD) is based on the FXTM Signals that are posted twice a day (before the London and New York sessions) for all FXTM clients to follow.

It can be found in the MyFXTM profile under Trading Services... FXTM Trading Signals.

 

• What happened since TP was published?

Euro bears entered the scene on Thursday afternoon after comments by ECB President Christine Lagarde boosted bets around the ECB cutting interest rates.

Traders are now pricing in a 97% probability of a 25-basis point ECB cut by June 2024.

 

• How much in potential profits?

The EURUSD crashed through all bearish profit targets on the M15 timeframe.

Given how the entry was at 1.08895, this is equivalent to almost 20 pips of profit.

 

    3) Bitcoin hovers near all-time highs

• Where and when was Target Price (TP) published?

This technical scenario (Bitcoin) is based on the FXTM Signals that are posted twice a day (before the London and New York sessions) for all FXTM clients to follow.

It can be found in the MyFXTM profile under Trading Services... FXTM Trading Signals.

 

• What happened since TP was published?

The cryptocurrency jumped higher this afternoon, triggering the entry level at $67320.25

Bitcoin bulls have been turbocharged by massive inflows into US Bitcoin ETF’s and optimism around the upcoming halving in April.

After hitting a new all-time high this week above $69300, the path of least resistance certainly points north.

 

• How much in potential profits?

Bitcoin has hit the second profit target of $67735.23

This is equivalent to a $414.98 move from the entry price of $67320.25 which is roughly 0.6%.

US30 EURUSD Bitcoin Technical Analysis SMA