Hey guys,

It’s hot today...

Wow, déjà vu! Sounds pretty familiar to yesterday’s blog, doesn’t it.

The difference today is that I’m lacking the energy to go out into it, even down to the beach. Probably a stupid attitude to have, but I just downright can’t be bothered to do any sort of walking in the sun.

I’m sure you can relate to those days where you’re just not feeling it, right? It’s autumn and we’re meant to be through this.

Gah!

Market Overview

Turning attention to markets and it’s war that has flicked the risk-off switch once again.

No, not a trade war... Like an actual war. Where people get shot and indiscriminately bombed.

Yep, so I have your attention now? Okay cool.

Okay, that sort of rhetoric from the leader of one global superpower to another will generally see money flow into safe haven assets like bonds and the Japanese Yen and that’s exactly what we saw.

We also got the release of the March Federal Reserve meeting minutes, which appeared to indicate a more hawkish tone.

With the Fed already seemingly trigger happy on the rate rises, this keeps the outlook as expected for better. Add in the March CPI number beating expectations and its hawk city.

Kaw kaw!

Cryptocurrency Markets

If you read my Steemit blogs each day or follow me on Twitter, you know I like to take a market narrative and run with it. Letting the trades that come with the evolving story unfold across the blogs each day.

With USD/JPY and STEEM trades still above any intraday swing high levels that would stop us out with profit, I’ll leave them alone and today turn my attention to Dan’s baby, EOS.

EOS/USD Daily

Yep, you guessed it, we’re starting with a higher time frame level and working our way in from there.

You can see that price has bounced up off what I’ve looked at as a new floor since that low liquidity flash crash stopped there and has rallied hard since.

Price then hit that next resistance zone I’ve marked, but the momentum is all bullish so for me, the support level is still the key for me and I therefore want to be buying when I trade.

EOS/USD Hourly

Zooming into an intraday chart and you can see this juicy little, obvious block that will surely see buyers step in at once we retest.

If it holds. I buy looking for new highs. If it goes straight through, no skin off my nose.

That’s trading! ✌🏻

Return from EOS Trade Idea - Going with Momentum, Looking to Buy the Pullback to forexbrokr's Web3 Blog