TRENDING:

XAU/USD

Silver

USD/CAD Intraday: key resistance at 1.3285

Swissquote Bank Research Team Swissquote Bank Ltd

USD/CHF

The bias remains bullish.

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

Pivot (invalidation): 0.9770

Our preference
Long positions above 0.9770 with targets at 0.9810 & 0.9835 in extension.

Alternative scenario
Below 0.9770 look for further downside with 0.9755 & 0.9735 as targets.

Comment
The RSI lacks downward momentum.

USD/CAD

Key resistance at 1.3285.

Pivot (invalidation): 1.3285

Our preference
Short positions below 1.3285 with targets at 1.3255 & 1.3240 in extension.

Alternative scenario
Above 1.3285 look for further upside with 1.3310 & 1.3325 as targets.

Comment
As Long as the resistance at 1.3285 is not surpassed, the risk of the break below 1.3255 remains high.

AUD/USD

Caution.

Pivot (invalidation): 0.6770

Our preference
Long positions above 0.6770 with targets at 0.6795 & 0.6810 in extension.

Alternative scenario
Below 0.6770 look for further downside with 0.6760 & 0.6750 as targets.

Comment
Intraday technical indicators are mixed and call for caution.

USD/TRY

Continuation of the rebound.

Pivot (invalidation): 5.5680

Our preference
Long positions above 5.5680 with targets at 5.5950 & 5.6060 in extension.

Alternative scenario
Below 5.5680 look for further downside with 5.5490 & 5.5310 as targets.

Comment
The break above 5.5680 is a positive signal that has opened a path to 5.5950.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

EUR/USD off highs, back to around 1.1900

EUR/USD keeps its strong bid bias in place despite recedeing to the 1.1900 zone following earlier peaks north of 1.1900 the figure on Monday. The US Dollar remains under pressure, as traders stay on the sidelines ahead of Wednesday’s key January jobs report, leaving the pair room to extend its upward trend 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 picks up pace, retargets $5,100

Gold gathers fresh steam, challenging daily highs en route to the $5,100 mark per troy ounce in the latter part of Monday’s session. The precious metal finds support from fresh signs of continued buying by the PBoC, while expectations that the Fed could lean more dovish also collaborate with the uptick.

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.