FTSE good support at the 100 day moving average at 7385/80

Jason Sen DayTradeIdeas.co.uk

Daily Forecast - 15 November 2017

Dax December contract

Dax may have one last push lower & holding below 13025/015 re-targets 12958. On further losses look for a buying opportunity at 12900/890, with stops below 12840.

Minor resistance at 13090/099 but strong resistance at 13135/145 is the best chance of a high for the day again. Try shorts with stops above 13185. A break higher however is a buy signal targeting 13240/250 & strong resistance at 13290/300. Try shorts with stops above 13330.

Ftse December contract

FTSE good support at the 100 day moving average at 7385/80 & again at 7360/50 so we should bottom somewhere within this 35 tick band. Longs need stops below 7330. An unexpected break below 7320 however is a sell signal.

Holding the big support level targets 7400 t& 7415/20. Above 7425 targets first resistance at 7443/48 with a high for the day likely. However above 7455 targets a selling opportunity at 7475/85, with stops above 7500.

Emini Dow Jones December contract

Emini Dow Jones bottomed just 1 tick from our buying opportunity at 23230/210. I just hope you managed to jump in for the bounce to 23360/350, before the top at 23379. We have dipped to minor support at 23310/300. Below 23280 risks a retest of strong support at 23230/210. However be aware that there is a good chance we will eventually trade down as far as 23130/120 for an excellent buying opportunity (I just don't know the timing).

Holding first support at 23310/300 targets first resistance at 23390/400 & the main challenge for bulls today. Try shorts with stops above 23440. Further gains however allow a retest of the 23552/557 all time high. A break higher targets 23590/595 & 23680/690.

S&P December contract

Emini S&P has spiked to down to 2564/62 on one day in each of the past 3 weeks...including this week & seen a strong bounce. However a break below 2560 is more likely now, targeting an excellent buying opportunity at 2554/52. Stop below 2548.

Bulls need prices to hold above 2575 to target 2581/82, perhaps as far as resistance at 2585/87. Above here in the short term sideways allows a retest of the 2592/94.50 all time high. Above 2595/97 targets 2603.

Author

Jason Sen

DayTradeIdeas.co.uk

EUR/USD off highs, back to around 1.1900

EUR/USD keeps its strong bid bias in place despite recedeing to the 1.1900 zone following earlier peaks north of 1.1900 the figure on Monday. The US Dollar remains under pressure, as traders stay on the sidelines ahead of Wednesday’s key January jobs report, leaving the pair room to extend its upward trend for now.

GBP/USD hits three-day peaks, targets 1.3700

GBP/USD is clocking decent gains at the start of the week, advancing to three-day highs near 1.3670 and building on Friday’s solid performance. The better tone in the British Pound comes on the back of the intense sekk-off in the Greenback and despite re-emerging signs of a fresh government crisis in the UK.

Gold picks up pace, retargets $5,100

Gold gathers fresh steam, challenging daily highs en route to the $5,100 mark per troy ounce in the latter part of Monday’s session. The precious metal finds support from fresh signs of continued buying by the PBoC, while expectations that the Fed could lean more dovish also collaborate with the uptick.

Crypto Today: Bitcoin steadies around $70,000, Ethereum and XRP remain under pressure

Bitcoin hovers around $70,000, up near 15% from last week's low of $60,000 despite low retail demand. Ethereum delicately holds $2,000 support as weak technicals weigh amid declining futures Open Interest. XRP seeks support above $1.40 after facing rejection at $1.54 during the previous week's sharp rebound.

Japanese PM Takaichi nabs unprecedented victory – US data eyed this week

I do not think I would be exaggerating to say that Japanese Prime Minister Sanae Takaichi’s snap general election gamble paid off over the weekend – and then some. This secured the Liberal Democratic Party (LDP) an unprecedented mandate just three months into her tenure.

Ripple exposed to volatility amid low retail interest, modest fund inflows

Ripple (XRP) is extending its intraday decline to around $1.40 at the time of writing on Monday amid growing pressure from the retail market and risk-off sentiment that continues to keep investors on the sidelines.