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NAS100 4 HOUR CFD: Consolidating but itching for more?
Just took out 27298, the top of its consolidation range.
A break higher puts the descending trendline in focus, but only a break above the blue line at 28336 confirms a bottom at 26244.
Below 26640, the low is back in play.
Support — 26640, 26244
Resistance — 27298, descending trendline, 28336, 28909
XAUUSD 4 HOUR: Consolidating with a bid
Consolidating after a fresh test of 4100+ paused again below a key 4155 resistance.
For fresh momentum to build to the upside, 4147 needs to be taken out.
Supports: 4084 (minor unless followed by a 4147 break), 4053, 4026, 4000
Resistance: 4132, 4138, 4147, 4155, 4200
US500 (SP500) 4 HOUR (CFD): Encouraging sign?
The pause just above key daily support (cited here yesterday) at 7292 plus a higher low (2 red lines) are encouraging signs but it would take a move above 7505 to negate the breakdown and raise talk the low is in.
Otherwise, it is either consolidation or retracement as long as the low stays at 7295..
NAS100 (NASDAQ) 4 HGOUR (CFD): Still too early to call a low
While It is too early to say the low is in, downside risk will cool off if it can stay above 27K.
To change the picture, 28K, the 4 hour trendline and 28336 would need to be taken out.
Otherwise, it is consolidation or retracement unless the low is taken out.
US500 (SP500) DAILY (CFD): Meltdown
Meltdown may be an understatement with the solid move below 7500 and the former 7461 low opening a black hole. Rather than guess at the bottom, I will just point out key supports at 7292 (daily) and 7227 (weekly). Upside will be limited unless 7460-7500 is regained.
EURUSD 4 HOUR: Waiting for the ECB
Bounce from a double bottom (1.1113) and higher low not going far enough to break the downside risk. For that to happen, 1.,1195 would need to be taken out.
This keeps EURUSD on the defensive (while below 1.1150) but consolidating ahead of the ECB meeting where the surprise would be a rate hike.
Note for US traders: ECB decision is due at 9:15 EDT, one hour later than usual as US clocks do not due fall back until Sunday
ECB President Lagarde announces she will step down after the February 2027 meeting.
XAUUSD 1 HOUR: Â 4000-4100?
Keeping a bid while above 4000 but consolidating after a brief spike to 4070, which is now the obstacle to building momentum for a run at 4100.
Should trade stay within 4000-4100, then 4050 will set its intra-day tone.
With that said, what stands out on this chart is the double bottom at 3989, which will encourage the bulls as long as it holds.
EURUSD 4 HOUR: Low back on the radar?
Failure to hold 1.12+ has seen the 1.1182 bottom of the consolidation range broken. If 1.1182 becomes resistance, then the 1.1113 low comes on the radar although 1.1150 more likely will determine whether to go after the low or not. If not, above, 1.1182 would put 1.12 back in focus.
US500 (SP500) 4 HOUR: 5 days in a row
Some hope for the bulls with a higher low that would need to take out 7765, currently protected by 7727, to break momentum and shift the focus from 7700 (printed 5 days in a row).
Otherwise, consolidating in wide range 7631-7765 where the pattern around 7700 bears watching.
Bullish Key Reversal (after a downtrend): The week pushes to a lower low, then rallies strongly to close above the previous week’s close.
Vice versa for a Bearish Key Reversal.
While outside days happen frequently on daily charts, outside weeks are much rarer and carry significantly more weight on a weekly timeframe.
NOTE: To filter out false signals in currency trading, professional traders rarely trade a key reversal in isolation. They use a multi-variable confirmation system.
USDCAD DAILY: Outside week or reaction to a double top?
One way street up followed by consolidation and now an outside week (key reversal?) or a case can be made for a reaction to a double top as only a new high was made by 1 pip.
In any case, this leaves it dependent on 1.4150-54 holding to check the downside or face a void on the downside.
US500 (SP500) 1 HOUR: 6 days in a row Consolidating around 7800, which has traded 6 days in a row. Last time this happened Was around 7700 (before a breakout to the upside) but 7800 is a more significant level so stay on guard for a directional move when this pattern breaks. Test may come in the reaction to Wed’s CPI. Wide range 7776-7839/45.
