Double top sell signal in Gold?

Jason Sen DayTradeIdeas.co.uk

Gold

Gold beat resistance at 2909/13 & the break above 2916 hit the targets of 2925/28 & the all time high at 2940/42.
We wrote: I will also watch to see if a negative candle forms to signal a potential double top sell signal.
**WE HAVE THE BEARISH ENGULFING CANDLE ON THE DAILY CHART TO CONFIRM DOUBLE TOP SELL SIGNAL.**
Perhaps $3000 was expected by too many speculators!
There is minor support at 2883/78 but after Friday's price action a break below 2876 seems likely for a sell signal on Monday targeting 2865/63 & probably strong support at 2848/44.
Of course the bulls have not given up & they are likely to defend this level so look for a bounce from here.
Longs need stops below 2835.
Targets: 2855, 2862, 2874.
Resistance at 2900/2905 & shorts need stops above 2910. Targets: 2890, 2880, 2870.

Author

Jason Sen

DayTradeIdeas.co.uk

EUR/USD looks offered below 1.1900

EUR/USD keeps its bearish tone unchanged ahead of the opening bell in Asia, returning to the sub-1.1900 region following a firmer tone in the US Dollar. Indeed, the pair reverses two consecutive daily gains amid steady caution ahead of Wednesday’s key US Nonfarm Payrolls release.

GBP/USD slips back to daily lows near 1.3640

GBP/USD drops to daily lows near 1.3640 as sellers push harder and the Greenback extends its rebound in the latter part of Tuesday’s session. Looking ahead, the combination of key US releases, including NFP and CPI, alongside important UK data, should keep the pound firmly in focus over the coming days.

Gold declines to near $5,050, focus shifts to US jobs data

Gold price falls to near $5,045 during the early Asian session on Wednesday. Traders assess whether prices have found a floor following a historic sell-off. The delayed US employment report for January, which was pushed back due to the recently ended four-day government shutdown, will take center stage later on Wednesday.

Ethereum: Whales buy the dip amid rising short bets

Following one of Ethereum's largest weekly drawdowns, whales are slowly returning to action alongside a drop in retail selling pressure. After slightly selling into the decline at the start of the month, whales or wallets with a balance of 10K-100K ETH began buying the dip last Wednesday as prices crashed further.

Dollar drops and stocks rally: The week of reckoning for US economic data

Following a sizeable move lower in US technology Stocks last week, we have witnessed a meaningful recovery unfold. The USD Index is in a concerning position; the monthly price continues to hold the south channel support.

XRP holds $1.40 amid ETF inflows and stable derivatives market

Ripple trades under pressure, with immediate support at $1.40 holding at the time of writing on Tuesday. A recovery attempt from last week’s sell-off to $1.12 stalled at $1.54 on Friday, leading to limited price action between the current support and the resistance.