Because there will be direction on Monday, I would like to share my thoughts. Firstly, Moody's downgrade will have some impact, but there is a marginal effect, so the impact won't be that significant. Therefore, the yield on long-term U.S. bonds has slightly soared, but it will face the last drop of U.S. Treasuries, which is a good time to buy the dip.
The U.S. dollar index continues to decline, while East Asian currencies remain appreciated. Gold is expected to experience a surge due to short-term safe-haven demand.
The U.S. stock market has slightly decreased, which is a correction from the previous surge, but this correction is a good opportunity for institutional investors who missed the earlier rise to buy in. From a candlestick perspective, this movement is very similar to the trend at the beginning of 2020.
BTC and ETH are expected to create a short trap after the slight decline in the U.S. stock market, followed by an immediate rise, reaching new highs and starting the next wave of market activity.