Emini S&P first support at 2466/65 before a buying opportunity at 2460/59

Jason Sen DayTradeIdeas.co.uk

Daily Forecast - 25 July 2017

Emini Dow Jones September contract

Emini Dow Jones failure to beat 21530 triggers a slide back to 21465/460 before the low last week at 21420/416. A break lower today targets strong support at 21365/355 for a buying opportunity with stops below 21295.

First resistance at 21525/535 but above 21550 sees us headed towards 21595 before the 21620/628 all time high....but we have major, major, MAJOR important 6 year trend line resistance at 21710/730. Nothing else matters this week!

S&P September contract

Emini S&P first support at 2466/65 before a buying opportunity at 2460/59, with stops below 2454. A break lower however sees 2459/60 act as resistance to target 2450/49.

Above 2470 allows a retest of the new all time high at 2476.25. Further gains target 2478/79 before strong trend line resistance at 2495/99.

Author

Jason Sen

DayTradeIdeas.co.uk

EUR/USD treads water above 1.1850 amid thin trading

EUR/USD stays defensive but holds 1.1850 amid quiet markets in the European hours on Monday. The US Dollar is struggling for direction due to thin liquidity conditions as US markets are closed in observance of Presidents' Day.

GBP/USD flat lines as traders await key UK and US macro data

GBP/USD kicks off a new week on a subdued note and oscillates in a narrow range near 1.365 in Monday's European trading. The mixed fundamental backdrop warrants some caution for aggressive traders as the market focus now shifts to this week's important releases from the UK and the US.

Gold sticks to intraday losses; lacks follow-through

Gold remains depressed through the early European session on Monday, though it has managed to rebound from the daily trough and currently trades around the $5,000 psychological mark. Moreover, a combination of supporting factors warrants some caution for aggressive bearish traders, and before positioning for deeper losses.

Bitcoin, Ethereum and Ripple consolidate within key ranges as selling pressure eases

Bitcoin and Ethereum prices have been trading sideways within key ranges following the massive correction. Meanwhile, XRP recovers slightly, breaking above the key resistance zone. The top three cryptocurrencies hint at a potential short-term recovery, with momentum indicators showing fading bearish signs.

Global inflation watch: Signs of cooling services inflation

Realized inflation landed close to expectations in January, as negative base effects weighed on the annual rates. Remaining sticky inflation is largely explained by services, while tariff-driven goods inflation remains limited even in the US.

Monero Price Forecast: XMR risks a drop below $300 under mounting bearish pressure

Monero (XMR) starts the week under pressure, recording a 4% decline at press time on Monday after a 7% drop the previous day, putting the $300 support zone in focus.