Emini Nasdaq edging very slowly towards resistance at 18,050/18,150

Jason Sen DayTradeIdeas.co.uk

30 April

Emini S&P June futures made a high for the day exactly at strong resistance at 5145/55 for the second day & obviously, this level remains key to direction for this week.
The series of 4 Dojis on the daily chart suggest the market may be running out of steam.
Emini Nasdaq edging very slowly towards resistance at 18050/18150.

Emini S&P has recovered all the losses & bounced 100 points to 5134.
A high for the day exactly at strong resistance at 5145/55 on Monday & shorts need stops above 5165.
Targets: 5130, 5110, 5090. A move as far as 5050 is not out of the question.
A break higher however is a buy signal targeting 5175, 5190 & even 5220 is possible.
We should have support at 5050/5040 & longs need stops below 5025.

Nasdaq June futures caught me out as we shot higher to 17,717

I think we are probably forming a bear flag or possibly a head & shoulders & I must wait to see if the pattern develops.
We should find strong resistance at 18050/18150 & shorts need stops above 18250.
Targets: 17850, 17750, 17650
A break above 18250 however is a buy signal targeting 18350, 18450 & 18550 is even possible.

Author

Jason Sen

DayTradeIdeas.co.uk

EUR/USD keeps the rangebound trade near 1.1850

EUR/USD is still under pressure, drifting back towards the 1.1850 area as Monday’s session draws to a close. The modest decline in spot comes as the US Dollar picks up a bit of support, while thin liquidity and muted volatility, thanks to the US market holiday, are exaggerating price swings and keeping trading conditions choppy.

GBP/USD trades with negative bias, eyes 1.3600 ahead of UK jobs data

The GBP/USD pair trades with a negative bias for the second straight day, though it lacks bearish conviction and holds above the 1.3600 mark through the Asian session on Tuesday. Traders now look forward to the release of the UK monthly jobs report, which will influence the British Pound and provide some impetus to the currency pair.

Gold sticks to a negative bias below $5,000; lacks bearish conviction

Gold remains depressed for the second consecutive day and trades below the $5,000 psychological mark during the Asian session on Tuesday, as a positive risk tone is seen undermining safe-haven assets. Meanwhile, bets for more interest rate cuts by the Fed keep a lid on the recent US Dollar bounce and act as a tailwind for the non-yielding bullion, warranting caution for bearish traders ahead of FOMC minutes on Wednesday.

AI Crypto Update: Bittensor eyes breakout as AI tokens falter

The artificial intelligence (AI) cryptocurrency segment is witnessing heightened volatility, with top tokens such as Near Protocol (NEAR) struggling to gain traction amid the persistent decline in January and February.

US CPI is cooling but what about inflation?

The January CPI data give the impression that the Federal Reserve is finally winning the war against inflation. Not only was the data cooler than expected, but it’s also beginning to edge close to the mystical 2 percent target. CBS News called it “the best inflation news we've had in months.”

XRP steadies in narrow range as fund inflows, futures interest rise

Ripple is trading in a narrow range between $1.45 (immediate support) and $1.50 (resistance) at the time of writing on Monday. The remittance token extended its recovery last week, peaking at $1.67 on Sunday from the weekly open at $1.43.