The year started with everything in an upward direction.
First, BTC just went up around 20% today, from 4133 to 5080.
BTC 8000.
Also there's some news backing this too:
https://sludgefeed.com/mike-novogratz-says-institutions-drive-bitcoin-to-8000/
Next, S&P 500
SPX to 3000, is likely within this Quarter. Possibly 3200 at the end of the year.
If it fails to hold 2850, it's likely to go down.
And if it drops below 2700 this quarter, it's likely to go at 2550, or even lower than last year.
So far the direction is up.
EURUSD to 1.09 at this rate.
A correction to 1.18 is unlikely, either because trends won't support it or because EUR weakening is what ECB wants. If you add up the EU having trouble, then the EUR would still go down.
First comes 1.10750 then 1.09 .
It might go low soon, only to keep the 1.09-1.12 range for the rest of the year.
USDJPY anywhere between 109 and 115 for the rest of the year.
As for Brexit and GBP
On a hard brexit, GBPUSD might reach parity.
A closer look:
The market is in waiting mode until a decision is reached.
Considering the GBP establishment and the banks, they might go for no brexit.
Which means GBP will go to 1.40 and even 1.60 in the long term, if brexit fears are gone.
OIL at this rate to 67-70 and even higher, considering technical analysis, OPEC and not many measures to force the price down.
Gold keeps range.
If gold will go up, it will need to get out of that channel. Which is possible this year or the next.
Conclusions:
A bubble top for the stock market is likely this year.
In forex, dollar will be staying strong.
Oil is good to long short term, but long term is likely to go down.
Gold is good to long for long term, but it's a waiting game.
Cryptocurrencies show a good opportunity. Today it went up surprisingly 20%.
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