SPX traps and now what

Monica Kingsley Monicakingsley

S&P 500 gave us a trappy day, which was fine to play only in quick intraday context – trappy day sprinkled with strong tariff statements and responses, and one budding sign shown by tech to S&P 500 ratio, BTC turn up with MSTR and COIN clues (the very short-term perspective only) – all talked in yesterday‘s thorough video, thanks for the great reception of so much ground covered! Today‘s key tweet snapshot – apart from me advising you of strong risk-on turn in European stocks (DAX) in yesterday‘s article – features as well the above mentioned ratio chart. In today‘s cross-asset video, I covered as well Lutnick statements to illustrate what needs to change in the most likely scenario presented to clients yesterday, and what not. Great profitable time for swing trading clients (that‘s the daily analytics articles), and also in our intraday channel yesterday with me tracking the turns too, with Ellin‘s successes. How do you like XLK to XLF anyway?

Author

Monica Kingsley

Monicakingsley

Monica Kingsley is a trader and financial analyst serving countless investors and traders since Feb 2020.

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.

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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.