Emini Dow Jones sold off to but bottomed exactly at the 19870/880 level by the close,

Jason Sen DayTradeIdeas.co.uk

Daily Forecast - 09 January 2017

S&PMarch

Emini S&P has held 2268/69 on the dip to allow a retest of the all time high at 2278/79. Further gains are always likely in the bull trend targeting 2291/92 & 2300/02. Bl 2270 tests first support at 2266/65 which could hold the downside. However if we continue lower look for a buying opportunity at 2259/58, with stops below 2253.

Emini Dow Jones

Emini Dow Jones sold off to but bottomed exactly at the 19870/880 level by the close, after a top on Friday at 19925. Holding here allows a retest of the March contract high at 19925/933. A break higher targets the all time high at 19968. On further gains look for 20070/980. Failure to hold above 19860 tests better support at 19830/820. Watch for a low for the day but longs need stops below 19800. Further losses target only minor support at 19765/755 before last week's low at 19710/706. A break lower this week tests good support at 19630/620. Longs need stops below 19600 however to target 19560/555 & 19520.

Author

Jason Sen

DayTradeIdeas.co.uk

EUR/USD looks to regain the 200-day SMA

EUR/USD regains some balance and trade just above 1.1600 the figure ahead of the opening bell in Asia. The pair initially dipped to the 1.1530 zone for the first time since November, always following the stronger US Dollar and the marked flight-to-safety in the context of the ongoing Middle East crisis

GBP/USD attacks 1.3300, refreshing three-month lows

GBP/USD is deep in the red near 1.3300, accelerating its downside to renew three-month lows in European trading on Tuesday. The ongoing escalation in the Iran war, combined with rising Oil prices, weighs negatively on the higher-yielding Pound Sterling as the US Dollar capitalizes on increased haven demand.

Gold bounces off lows, back above $5,100

Gold remains on the defensive, eroding part of the recent multi-day advance and managing to trade back above the $5,100 mark per troy ounce on Tuesday. The precious metal initially dropped just below the critical $5,000 threshold on the back of the persistent strength of the Greenback, higher US Treasury yields across the curve and investors' repricing of Fed rate cuts.