TRENDING:

XAU/USD

Silver

USD/CAD Intraday: Further advance

Swissquote Bank Research Team Swissquote Bank Ltd

USD/CHF

Target 0.9900.

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

Pivot (invalidation): 0.9945

Our preference
Short positions below 0.9945 with targets at 0.9915 & 0.9900 in extension.

Alternative scenario
Above 0.9945 look for further upside with 0.9960 & 0.9975 as targets.

Comment
The RSI advocates for further downside.

USD/CAD

Further advance.

Pivot (invalidation): 1.3315

Our preference
Long positions above 1.3315 with targets at 1.3360 & 1.3380 in extension.

Alternative scenario
Below 1.3315 look for further downside with 1.3295 & 1.3270 as targets.

Comment
The RSI is bullish and calls for further advance.

AUD/USD

The downside prevails.

Pivot (invalidation): 0.6920

Our preference
Short positions below 0.6920 with targets at 0.6875 & 0.6850 in extension.

Alternative scenario
Above 0.6920 look for further upside with 0.6935 & 0.6950 as targets.

Comment
The immediate trend remains down and the momentum is strong.

USD/TRY

Further upside.

Pivot (invalidation): 5.8530

Our preference
Long positions above 5.8530 with targets at 5.9060 & 5.9440 in extension.

Alternative scenario
Below 5.8530 look for further downside with 5.8160 & 5.7880 as targets.

Comment
The RSI calls for a new upleg.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

EUR/USD clings to strong gains above 1.1850 on USD weakness

EUR/USD preserves its bullish momentum to start the week and trades above 1.1850. The US Dollar struggles to find demand ahead of Wednesday's critical January employment report and helps the pair continue to push higher.

GBP/USD hovers near 1.3600 as UK government crisis weighs on Pound Sterling

GBP/USD moves sideways after registering modest gains in the previous session, trading around 1.3610 during the European hours on Monday. The pair could come under pressure as the Pound Sterling may weaken amid a fresh government crisis in the United Kingdom.

Gold holds steady above $5,000

Gold builds on the gains it posted to end the previous week and holds steady above $5,000 on Monday. Data released over the weekend showed that the People's Bank of China extended its Gold 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.

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.

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.