NZD/USD beat 6530/35 for a buy signal

Jason Sen DayTradeIdeas.co.uk

AUDUSD _ NZDUSD

AUDUSD outlook negative as long as we hold below strong resistance at 6870/80.

NZDUSD outlook positive as long as we hold above 6540/30.

Daily Analysis

AUDUSD above 6865 meets a selling opportunity at 6870/80, with stops above 6895. A weekly close above here tonight is a buy signal but we need a break above the 200 day moving average at 6910/14 for confirmation.

Minor support at 6836/33 & better support at 6810/00. Try longs with stops below 6790. A break lower is a sell signal.

NZDUSD beat 6530/35 for a buy signal targeting 6570/75, 6600, 6614/18 & 6650/55.

Try longs at 6540/30 with stops below 6520. A break lower targets a buying opportunity at 6490/80 with stops below 6460.

Trends

Weekly outlook is negative

Daily outlook is neutral

Short Term outlook is positive

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.