Nasdaq retests all-time high at 13550/600

Jason Sen DayTradeIdeas.co.uk

Emini SP 500 – Nasdaq

Emini S&P March beat strong resistance at 3780/90 with shorts stopped above 3800for a buy signal targeting 3818/23 & 3840/43 today.

Nasdaq March higher again through 13400 opening the door to a retest of the alltime high at 13550/600. We are there as I write.

Daily Analysis

Emini S&P break above 3800 was our buy signal targeting 3818/23 & 3840/43. Thistarget has been hit as I write. Further gains certainly not out of the question for aretest of the all time high at 3857/62. Obviously a break higher is another buy signalinitially targeting 3871/74 & 3880, perhaps as far as 3895/99.

First support at 3800/3795 but longs need stops below 3785. A break lower meetssupport at 3765/60.

Nasdaq retests the all time high at 13550/600. A break higher is a buy signaltargeting 13640/650, 13680/690 & above 13710 we look for 13750/770.

Failure to beat resistance at the all time high at 13600 risks a double top sell signal.This sends prices back to 13450/400, perhaps as far as support at 13200/150.Unlikely at this stage but further losses meet strong support at 1300/12950. Longsneed stops below 12900.

Chart

Author

Jason Sen

DayTradeIdeas.co.uk

EUR/USD: US Dollar to remain pressured until uncertainty fog dissipates

Unimpressive European Central Bank left monetary policy unchanged for the fifth consecutive meeting. The United States first-tier employment and inflation data is scheduled for the second week of February. EUR/USD battles to remain afloat above 1.1800, sellers moving to the sidelines.

GBP/USD softens to near 1.3600 as BoE hints further rate cuts

The GBP/USD pair loses ground to near 1.3610 during the early Asian session on Monday. The Pound Sterling softens against the Greenback amid growing expectations of the Bank of England’s interest-rate cut. Traders will take more cues from the Fedspeak later on Monday.

Gold eyes acceptance above $5,000, kicking off a big week

Gold is consolidating the latest uptick at around the $5,000 mark, with buyers gathering pace for a sustained uptrend as a critical week kicks off. All eyes remain on the delayed Nonfarm Payrolls and Consumer Price Index data from the United States due on Wednesday and Friday, respectively.

Top Crypto Gainers: Aster, Decred, and Kaspa rise as selling pressure wanes

Altcoins such as Aster, Decred, and Kaspa are leading the broader cryptocurrency market recovery over the last 24 hours, as Bitcoin holds above $70,000 on Monday, up from the $60,000 dip on Thursday.

Weekly column: Saturn-Neptune and the end of the Dollar’s 15-year bull cycle

Tariffs are not only inflationary for a nation but also risk undermining the trust and credibility that go hand in hand with the responsibility of being the leading nation in the free world and controlling the world’s reserve currency.

Bitcoin, Ethereum and Ripple consolidate after massive sell-off

Bitcoin, Ethereum, and Ripple prices consolidated on Monday after correcting by nearly 9%, 8%, and 10% in the previous week, respectively. BTC is hovering around $70,000, while ETH and XRP are facing rejection at key levels. Traders should be cautious: despite recent stabilization, upside recovery for these top three cryptocurrencies is capped as the broader trend remains bearish.