Which way out of the range

Monica Kingsley Monicakingsley

S&P 500 had trouble extending gains, and undershot an important support – only to rebound before the closing bell – respectable on such a risk-off day. What about today‘s opex? S&P 500 is still ranging, and that means I‘m looking for a better than hesitant closing bell action today. Enjoy the opening weakness while it lasts – rotations are ahead, so which sectors will lead, can it be still tech?

Author

Monica Kingsley

Monicakingsley

Monica Kingsley is a trader and financial analyst serving countless investors and traders since Feb 2020.

EUR/USD looks weaker, breaks below 1.1800

EUR/USD now accelerates its daily pullback, breaching below the 1.1800 yardstick to hit fresh multi-day troughs as the NA session draws to a close on Monday. The pair’s pullback comes in response to marked gains in the US Dollar, as investors continue to digest the so-called “Warsh trade” and assess the latest results from the US docket.

GBP/USD bounces off lows, retests 1.3640

GBP/USD adds to Friday’s losses, reaching six-day lows near 1.3620, although regaining some composure soon afterwards. Indeed, Cable’s pullback comes amid the ongoing solid performance of the Greenback, while traders also begin to turn their attention to the upcoming BoE meeting.

Gold looking to stabilize below $4,700

Gold remains under heavy pressure in quite a negative start to the week, hovering around the $4,600 region per troy ounce and retreating for the third day in a row. The yellow metal’s decline comes amid strong gains in the US Dollar, the broad-based rebound in US Treasury yield and the deep sell-off in the precious metals’ space.

XRP holds near support amid low retail interest and weak on-chain metrics

Ripple (XRP) is trading above $1.60 on Monday, attempting to recover from last week’s sharp decline that tested support at $1.50.

Warsh effect ripples through markets, central banks on deck this week

The first full month of the year is behind us, and, honestly, it has been rather more dramatic than most had anticipated when toasting the New Year. We wrapped up last week with US President Donald Trump announcing his Fed Chair pick.

Ripple steadies after sell-off as low on-chain activity, retail interest weigh

XRP rebounds from last week’s support at $1.50 but struggles below resistance at $1.77. Active addresses on the XRP Ledger dropped below 18,000 on Sunday amid risk-averse sentiment. Retail interest in XRP continues to decline, with futures Open Interest dropping to $2.81 billion.