Emini S&P 500 & Nasdaq Futures

Jason Sen DayTradeIdeas.co.uk

Emini SP 500 _ Nasdaq March contract

Emini S&P enters our selling opportunity at strong resistance from 2605 up to 2620. We are short with wide stops above 2635, expecting the bear trend to resume. An unexpected break higher however is a buy signal.
Key support at 2607/05 today so below here is more negative targeting support at 2596/95. Watch for a bounce from here on the 1st test. A break below 2590 is a sell signal initially targeting 2587/86 & 2583/80.

Nasdaq reached 6735 & reversed towards last week's high at 6645. Below 6640 is another negative signal targeting 6630 & minor support at 6620/15. Best chance of a low for the day is at 6595/6590.
Holding 6645/40 allows a recovery to 6665/70 perhaps as far as 6695/99. Gains are likely to be limited but above here 6705 retests 6735. A break above 6640 puts bulls back in control for 6647 & 6665/68.

Author

Jason Sen

DayTradeIdeas.co.uk

EUR/USD hits two-day highs near 1.1820

EUR/USD picks up pace and reaches two-day tops around 1.1820 at the end of the week. The pair’s move higher comes on the back of renewed weakness in the US Dollar amid growing talk that the Fed could deliver an interest rate cut as early as March. On the docket, the flash US Consumer Sentiment improves to 57.3 in February.

GBP/USD reclaims 1.3600 and above

GBP/USD reverses two straight days of losses, surpassing the key 1.3600 yardstick on Friday. Cable’s rebound comes as the Greenback slips away from two-week highs in response to some profit-taking mood and speculation of Fed rate cuts. In addition, hawkish comments from the BoE’s Pill are also collaborating with the quid’s improvement.

Gold climbs further, focus is back to 45,000

Gold regains upside traction and surpasses the $4,900 mark per troy ounce at the end of the week, shifting its attention to the critical $5,000 region. The move reflects a shift in risk sentiment, driving flows back towards traditional safe haven assets and supporting the yellow metal.

Crypto Today: Bitcoin, Ethereum, XRP rebound amid risk-off, $2.6 billion liquidation wave

Bitcoin edges up above $65,000 at the time of writing on Friday, as dust from the recent macro-triggered sell-off settles. The leading altcoin, Ethereum, hovers above $1,900, but resistance at $2,000 caps the upside. Meanwhile, Ripple has recorded the largest intraday jump among the three assets, up over 10% to $1.35.

Three scenarios for Japanese Yen ahead of snap election

The latest polls point to a dominant win for the ruling bloc at the upcoming Japanese snap election. The larger Sanae Takaichi’s mandate, the more investors fear faster implementation of tax cuts and spending plans.

XRP rally extends as modest ETF inflows support recovery

Ripple is accelerating its recovery, trading above $1.36 at the time of writing on Friday, as investors adjust their positions following a turbulent week in the broader crypto market. The remittance token is up over 21% from its intraday low of $1.12.