Finally Time for Bitcoin? | Forex Market Mondays
I'm Michael Nauss, CMT. I run Stats Edge Trading — three systematic strategies tested across 25 years of data including every drawdown they survived.
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Educational content. Not investment advice Welcome back to Forex Market Mondays! In today’s post, I’ll cover key Forex pairs like USD/JPY and GBP/USD, as well as gold and Bitcoin. These levels, derived from backtested statistics and our ongoing strategy refinement process, help guide my trades for the week. For full access to these levels and more, join StatsEdge Pro.
Key Forex Pairs to Watch
USD/JPY: Testing the 200-day moving average. Historically, breaks below this level have led to notable moves lower. I’ll be watching for a breakdown as it approaches this mark.
GBP/USD (Cable): We’re near the crucial 1.130 level, which has been a solid support/resistance zone. If we reclaim this area, a stronger bullish momentum could follow.
AUD/CAD: I’m eyeing a continued pullback into a lower wedge boundary, a setup that could present a potential buy opportunity for the Aussie.
Gold: Looking to see if gold pulls back to recent highs for a buy. Alternatively, if it continues rallying to around $2,814, I’ll consider short opportunities based on the system's overextension criteria. I’ll monitor the price action for signs of exhaustion before entering.
Crypto Focus: Bitcoin
Bitcoin’s potential bull flag pattern remains a highlight. If it can break above $16,900, I may add to my position, and again if we surpass $17,100. I’m focused on buying breakouts rather than dips here, as Bitcoin has shown explosive movements upon breaking significant levels.
For more in-depth insights and real-time alerts, check out www.statsedgetrading.com and start your trading week with the confidence of tested strategies.