DAX intraday: Consolidation in place

Swissquote Bank Research Team Swissquote Bank Ltd

DAX

Consolidation in place.

Stay on top of the markets with Swissquote’s News & Analysis

Pivot (invalidation): 10140.00

Our preference
Short positions below 10140.00 with targets at 9455.00 & 9200.00 in extension.

Alternative scenario
Above 10140.00 look for further upside with 10410.00 & 10770.00 as targets.

Comment
As Long as 10140.00 is resistance, look for choppy price action with a bearish bias.

SP 500

Further upside.

Pivot (invalidation): 2350.00

Our preference
Long positions above 2350.00 with targets at 2571.00 & 2710.00 in extension.

Alternative scenario
Below 2350.00 look for further downside with 2290.00 & 2185.00 as targets.

Comment
The RSI is bullish and calls for further upside.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

EUR/USD climbs to two-week highs beyond 1.1900

EUR/USD is keeping its foot on the gas at the start of the week, reclaiming the 1.1900 barrier and above on Monday. The US Dollar remains on the back foot, with traders reluctant to step in ahead of Wednesday’s key January jobs report, allowing the pair to extend its upward grind for now.

GBP/USD hits three-day peaks, targets 1.3700

GBP/USD is clocking decent gains at the start of the week, advancing to three-day highs near 1.3670 and building on Friday’s solid performance. The better tone in the British Pound comes on the back of the intense sekk-off in the Greenback and despite re-emerging signs of a fresh government crisis in the UK.

Gold treads water around $5,000

Gold is trading in an inconclusive fashion around the key $5,000 mark on Monday week. Support is coming from fresh signs of further buying from the PBoC, while expectations that the Fed could turn more dovish, alongside concerns over its independence, keep the demand for the precious metal running.

Crypto Today: Bitcoin steadies around $70,000, Ethereum and XRP remain under pressure

Bitcoin hovers around $70,000, up near 15% from last week's low of $60,000 despite low retail demand. Ethereum delicately holds $2,000 support as weak technicals weigh amid declining futures Open Interest. XRP seeks support above $1.40 after facing rejection at $1.54 during the previous week's sharp rebound.

Japanese PM Takaichi nabs unprecedented victory – US data eyed this week

I do not think I would be exaggerating to say that Japanese Prime Minister Sanae Takaichi’s snap general election gamble paid off over the weekend – and then some. This secured the Liberal Democratic Party (LDP) an unprecedented mandate just three months into her tenure.

Ripple exposed to volatility amid low retail interest, modest fund inflows

Ripple (XRP) is extending its intraday decline to around $1.40 at the time of writing on Monday amid growing pressure from the retail market and risk-off sentiment that continues to keep investors on the sidelines.