Gold holding strong resistance at 1940/45

Jason Sen DayTradeIdeas.co.uk

Gold _ Silver

Gold Spot selling opportunity at strong resistance at 1940/45.

Silver Spot manages a recovery to strong resistance at 2630/40 & topped exactly here.

Daily Analysis

Gold holding strong resistance at 1940/45 targets 1930 & minor support at 1915/12 (hit). On further losses look for 1895/90 then the best buying opportunity of the day at 1865/55. Buy with stops below 1845. An unexpected break lower targets 1835/30.

We topped exactly at strong resistance at 1940/45 yesterday. Sell here today. Shorts need stops above 1950. A break higher targets 1965/70.

Silver topped exactly at strong resistance at 2630/40. Shorts need stops above 2670. A break higher targets strong resistance at 2710/20. Stop above 2740.

Minor support at 2500/2490 but below here targets 2425 with strong support at 2400 /2390. Longs need stops below 2350. If we continue lower I'm expecting an excellent buying opportunity at 2290/80, with stops below 2260.

Trends

Weekly Outlook	Positive
Daily Outlook	Positive
Short Term Outlook	Neutral

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.