Dax holding strong resistance at 15220/260

Jason Sen DayTradeIdeas.co.uk

Dax, EuroStoxx, Ftse

Dax 30 June shot higher from strong support at 14940/900, through first resistance at 15110/130 but holding strong resistance at 15220/260.

EuroStoxx 50 June longs at strong support at 3900/3890 are working as we hit 3960/3970 before a test of 3990/4000 highs.

FTSE 100 June finally beats key 200-week moving average resistance at the April high of 6990/7000. Holding above here can target 7090/7100 into the end of the week.

Daily analysis

Dax holding strong resistance at 15220/260 risks a slide to the first support at 15120/100. Further losses meet strong support at 14940/890. Longs need stops below 14840. A break lower targets 14700/650, perhaps as far as support at 14550/500.

Strong resistance at 15220/260. Shorts need stops above 15300.

EuroStoxx minor resistance at 3990/4000 highs. Further gains this week target 4018/22 & 4032/35.

First support at 3960/50 but below here can target 3935/30 with strong support at 3900/3890. Longs need stops below 3880. A break lower targets 3865/62 with strong support at 3845/35. Longs need stops below 3825.

FTSE holding first support at 7000/6980 can target 7090/7100.

Longs at 7000/6980 need stops below 6965. Unlikely, but a break lower to targets 6930/10.

Chart

Author

Jason Sen

DayTradeIdeas.co.uk

EUR/USD flirts with daily highs, retargets 1.1900

EUR/USD regains upside traction, returning to the 1.1880 zone and refocusing its attention to the key 1.1900 barrier. The pair’s slight gains comes against the backdrop of a humble decline in the US Dollar as investors continue to assess the latest US CPI readings and the potential Fed’s rate path.

GBP/USD remains well bid around 1.3650

GBP/USD maintains its upside momentum in place, hovering around daily highs near 1.3650 and setting aside part of the recent three-day drop. Cable’s improved sentiment comes on the back of the Greenback’s irresolute price action, while recent hawkish comments from the BoE’s Pill also collaborate with the uptick.

Gold clings to gains just above $5,000/oz

Gold is reclaiming part of the ground lost on Wednesday’s marked decline, as bargain-hunters keep piling up and lifting prices past the key $5,000 per troy ounce. The precious metal’s move higher is also underpinned by the slight pullback in the US Dollar and declining US Treasury yields across the curve.

Crypto Today: Bitcoin, Ethereum, XRP in choppy price action, weighed down by falling institutional interest

Bitcoin's upside remains largely constrained amid weak technicals and declining institutional interest. Ethereum trades sideways above $1,900 support with the upside capped below $2,000 amid ETF outflows.

Week ahead – Data blitz, Fed Minutes and RBNZ decision in the spotlight

US GDP and PCE inflation are main highlights, plus the Fed minutes. UK and Japan have busy calendars too with focus on CPI. Flash PMIs for February will also be doing the rounds. RBNZ meets, is unlikely to follow RBA’s hawkish path.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.