This week, traders will eagerly await the release of the Job Openings and Labor Turnover Survey (JOLTS) report, the ADP National Employment Report, and the Labor Department’s Non-Farm Payrolls data. Chair Jerome Powell’s testimony to Congress and President Biden’s budget plan will also be interesting. Get ready to observe these this week’s TOP3 trading assets (March 6-10): BTCUSD, Tesla, and NZDUSD.
This Week’s TOP3 Trading Assets (March 6-10)
It’s going to be an inspiring week for margin traders. The most recent Job Openings and Labor Turnover Survey (JOLTS) report, which will be released on Wednesday, combined with the ADP National Employment Report, which tracks private sector payrolls, will put the U.S. labor market in the limelight the following week. The Labor Department’s Non-Farm Payrolls data for February 2023 will be made public on Friday. Also, as he does every six months, Chair Jerome Powell will testify to Congress about the FED‘s monetary policy on Tuesday and Wednesday. President Biden will show Congress his budget plan for the next fiscal year on Thursday.
BTCUSD
The cryptocurrency bulls failed to decisively breach the $25K barrier, as shown on the daily chart above, and gave way to selling. The price is anticipated to fall back to the $21,500 level, the first target for the bears.
Since the most valuable digital currency in the world is worth $22,403, pessimists might say that the market is about to crash. Even though the crypto winter is over, Bitcoin must figure out how much it will continue to price in Silvergate’s crypto failure. It also needs to think about the good economic news from China.
Read also: A Brief History of Bitcoin’s Ups and Downs
Tesla
Due to improperly attached fasteners in the second-row seatback frames, Tesla recalled 3,470 of its Model Y cars. A recall report that came out at the end of February says the problem may affect 4% of vehicles.
While this could affect the stock price short term, Elon Musk has just released a new inspiring vision for Tesla’s future.
Read also: Elon Musk Twitter Takeover. The Complete Timeline
With its humanoid robot, Tesla has shown the world the most recent version of Optimus. It was part of its 2023 Investor Day. The Tesla Bot has been in development for 19 months. It can walk, pick up things, and perform other everyday chores.
“It’s worth bearing in mind that when we did AI day, this version of Optimus didn’t walk at all,” said Musk. “So the rate of improvement here is quite significant. It’s obviously not doing parkour, but it is walking around, and we have multiple copies, I suppose, of Optimus.”
NZDUSD
Stochastic sends bearish signals on intraday time frames in preparation for the resumption of the bearish trend. The New Zealand dollar pair is moving around the 50-day exponential moving average (EMA50) and it has 0.615 as its initial goal. Suppose the price breaks the targeted level, the 38.2% Fibonacci correction for the bullish wave on the chart. In that case, the next correcting target will be 0.6020.
NZDUSD is still struggling at 0.6210 as it gives up gains for the first time in five weeks going into Monday’s European session. This illustrates the bear’s domination in the crucial trading range between the 0.6245-50 resistance confluence and the 0.6200-6190 support zone in the Kiwi pair.
These are just three of the hundreds of Forex pairs you can buy or short this week with SimpleFX. Use any leverage suitable for your risk appetite and grab the upcoming opportunities.
