The Periodical: 1st April 2022

The 40 week nominal low is established in stockmarkets and cryptocurrency, oil slumps and USDCAD is primed for a big move

Chart of the Week: USDCAD

USDCAD, as mentioned in the last Periodical, moves to a low of 40 week magnitude. This low is now imminent with an 18 month FLD cross target of 1.32 outstanding in the months ahead.

Round Up

Stockmarkets over the last two weeks have established a low of at least 20 week magnitude and most likely, according to our current phasing analysis, a low of 40 week magnitude. While the European markets have shown extraordinary amplitude at the 40 day component (see FTSE) out of the low, US markets have been slower (although still putting in a remarkable string of bullish days) - no doubt less affected by geopolitics this side of the ‘pond’. In all major equity indices price is now approaching the first 40 day nominal peak. The move down from this first significant crest of the 40 week component will reveal a glimpse of price action to come late April.

Cryptocurrency has also most likely made the 40 week nominal low. Many of the major coins, certainly Bitcoin and Ethereum, …