Over the weekend, Donald Trump posted that he wants to move forward with a US crypto reserve.
Look what happened.
Bitcoin BTCUSD opened with a gap this morning jumping $10,000 in value.
Of course, with Bitcoin, and the current White House, anything can happen but we see the stochastic oscillator is very overbought and thinking about turning over.
Speaking of the White House and Donald Trump — the tariff king — we see the US Indices recovering.
If the tariffs against Mexico and Canada go ahead, or are postponed again, watch for volatility on indices like the S&P500, USD, CAD, Gold, and MXN.
USDMXN broke this huge double bottom late last year and we had the weakest MXN in 3 years.
Gold has rallied today and we may be seeing a bearish technical signal but be careful.
Anything can happen tomorrow and any news on Ukraine could send price action on gold in either direction.
We are seeing similar price action on silver.
We see EURAUD at resistance and the stochastic oscillator very overbought.
Both of these currencies will be in focus this week with Australian GDP on Wednesday and a European Interest Rate decision on Thursday.
