TRENDING:

XAU/USD

Silver

USD/CAD Intraday: Further advance

Swissquote Bank Research Team Swissquote Bank Ltd

USD/CHF

Caution.

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Pivot (invalidation): 1.0075

Our preference
Long positions above 1.0075 with targets at 1.0100 & 1.0120 in extension.

Alternative scenario
Below 1.0075 look for further downside with 1.0060 & 1.0045 as targets.

Comment
Intraday technical indicators are mixed and call for caution.

USD/CAD

Further advance.

Pivot (invalidation): 1.3410

Our preference
Long positions above 1.3410 with targets at 1.3470 & 1.3495 in extension.

Alternative scenario
Below 1.3410 look for further downside with 1.3390 & 1.3370 as targets.

Comment
The RSI is bullish and calls for further upside.

AUD/USD

Turning down.

Pivot (invalidation): 0.6885

Our preference
Short positions below 0.6885 with targets at 0.6865 & 0.6850 in extension.

Alternative scenario
Above 0.6885 look for further upside with 0.6895 & 0.6910 as targets.

Comment
A break below 0.6865 would trigger a drop towards 0.6850.

USD/TRY

Watch 6.1650.

Pivot (invalidation): 6.0870

Our preference
Long positions above 6.0870 with targets at 6.1420 & 6.1650 in extension.

Alternative scenario
Below 6.0870 look for further downside with 6.0650 & 6.0420 as targets.

Comment
The RSI is bullish and calls for further upside.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

EUR/USD holds firm near 1.1850 amid USD weakness

EUR/USD remains strongly bid around 1.1850 in European trading on Monday. The USD/JPY slide-led broad US Dollar weakness helps the pair build on Friday's recovery ahead of the Eurozone Sentix Investor Confidence data for February.

GBP/USD holds medium-term bullish bias above 1.3600

The GBP/USD pair trades on a softer note around 1.3605 during the early European session on Monday. Growing expectation of the Bank of England’s interest-rate cut weighs on the Pound Sterling against the Greenback.

Gold remains supported by China's buying and USD weakness as traders eye US data

Gold struggles to capitalize on its intraday move up and remains below the $5,100 mark heading into the European session amid mixed cues. Data released over the weekend showed that the People's Bank of China extended its buying spree for a 15th month in January. Moreover, dovish US Fed expectations and concerns about the central bank's independence drag the US Dollar lower for the second straight day, providing an additional boost to the non-yielding yellow metal.

Cardano steadies as whale selling caps recovery

Cardano (ADA) steadies at $0.27 at the time of writing on Monday after slipping more than 5% in the previous week. On-chain data indicate a bearish trend, with certain whales offloading ADA. However, the technical outlook suggests bearish momentum is weakening, raising the possibility of a short-term relief rebound if buying interest picks up.

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.

Bitcoin, Ethereum and Ripple consolidate after massive sell-off

Bitcoin, Ethereum, and Ripple prices consolidated on Monday after correcting by nearly 9%, 8%, and 10% in the previous week, respectively. BTC is hovering around $70,000, while ETH and XRP are facing rejection at key levels. Traders should be cautious: despite recent stabilization, upside recovery for these top three cryptocurrencies is capped as the broader trend remains bearish.