TRENDING:

XAU/USD

EUR/USD

People are expecting a stock market crash [Video]

Jason Sen DayTradeIdeas.co.uk

Emini S&P futures

Emini S&P SEPTEMBER futures broke below 7380 but did not reach my target & support at 7345/35 (Yet).

As we are still seeing buyers on dips, we may make a low of the day here.

Longs need stops below 7325.

A break lower is a sell signal targeting 7290/7285.

Unfortunately my resistance was too tight as we beat both 7390/7395 & also 7420/7430.

We made a high for the day at the next target of 7460/7470.

First resistance at 7465/75 today & shorts need stops above 7685.

A break higher is a buy signal targeting 7500/7505 then 7530/40.

We should struggle to beat this level but I think shorts are too risky.

If we continue higher look for 7580/7590.

Emini Nasdaq futures

Emini Nasdaq SEPTEMBER hit my target & buying opportunity at 29260/210.

This was the best chance of a low for the week & we saw a bounce from 29160, allowing the long positions to be held for the bounce to targets of 29430/460 & resistance at 29560/590.

However shorts here were stopped before we reversed.

The price actions suggest we are in a sideways consolidation and we will continue to reverse quickly.

Again, a buying opportunity at 29260/210 & longs need stops below 29100.

If we do break lower there is a risk of a retest of the June low for the September contract at 28590/510.

A break below here could slide as far as a buying opportunity at 28200/28050.

Longs need stops below 27900.

Longs at 29260/210 can target 29430/460 & 29560/590.

A break higher targets resistance at 29835/865.

Shorts need stops above 29990. A break higher is a buy signal targeting 30250/290, perhaps as far as 30550/590.

Author

Jason Sen

DayTradeIdeas.co.uk

Jason Sen began his career in the options pits on the trading floor of LIFFE in 1987 at the age of 19, making markets on his own account. In 2001 when the trading floor closed he successfully made the transition to day trading on computer screens.

GBP/USD climbs to four-day highs near 1.3250

GBP/USD rapidly reverses Friday’s small losses and challenges the 1.3250 level, or four-day tops, at the beginning of the week. Cable’s upside comes on the back of further loss of momentum in the Greenback, while traders continue to assess the geopolitical front and upcoming key events.

EUR/USD extends the advance past 1.1400

EUR/USD starts the week on a positive note, trading above 1.1400 on Monday as broad-based US Dollar weakness lends support to the pair. In the meantime, investors continue to monitor developments surrounding efforts to end the US-Iran conflict, while attention gradually shifts to the ECB's annual forum and the US NFP data.

Gold falters just ahead of $4,100

Gold remains under modest bearish pressure just above the key $4,000 mark per troy ounce on Monday. The yellow metal struggles to extend its recent gains as renewed effervescence in the Middle East revives inflation concerns and bolsters Fed rate hike expectations.

Bitcoin four-year cycle: BTC risks 75% drawdown with four months of bear market still ahead

Bitcoin price continues to trend downward below the $60,000 support zone after losing over 50% of its value since the $126,199 high in October. Bitcoin’s four-year cycle, measured from cycle tops to bottoms, suggests that four months of a bear market are still ahead.

Just like Fed, is BoJ’s independence under threat?

When talking about central bank independence, most of the focus has been on Donald Trump’s pressure on the Federal Reserve. But a similar story, a quieter one for now, seems to be happening on the other side of the Pacific: Japan’s government may be testing the Bank of Japan’s independence.

Kevin Warsh isn't expected to say much in Sintra: That's exactly why markets will listen

Financial markets could find an important catalyst in the enchanting, fairytale-like landscape of Sintra this week. The ECB Forum will, as it does every year, gather the crème de la crème of central banks. The new boss at the Fed, who has clearly said that the Fed should stop explaining everything, will need to talk – and traders should listen.