TRENDING:

XAU/USD

Silver

USD/CAD Intraday: target 1.3320

Swissquote Bank Research Team Swissquote Bank Ltd

USD/CHF

Turning down.

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

Pivot (invalidation): 0.9910

Our preference
Short positions below 0.9910 with targets at 0.9895 & 0.9885 in extension.

Alternative scenario
Above 0.9910 look for further upside with 0.9920 & 0.9930 as targets.

Comment
The RSI advocates for further downside.

USD/CAD

Target 1.3320.

Pivot (invalidation): 1.3250

Our preference
Long positions above 1.3250 with targets at 1.3300 & 1.3320 in extension.

Alternative scenario
Below 1.3250 look for further downside with 1.3235 & 1.3220 as targets.

Comment
The RSI is bullish and calls for further upside.

AUD/USD

The downside prevails.

Pivot (invalidation): 0.6830

Our preference
Short positions below 0.6830 with targets at 0.6805 & 0.6795 in extension.

Alternative scenario
Above 0.6830 look for further upside with 0.6840 & 0.6850 as targets.

Comment
The RSI is bearish and calls for further downside.

USD/TRY

Rebound expected.

Pivot (invalidation): 5.6910

Our preference
Long positions above 5.6910 with targets at 5.7210 & 5.7400 in extension.

Alternative scenario
Below 5.6910 look for further downside with 5.6780 & 5.6650 as targets.

Comment
A support base at 5.6910 has formed and has allowed for a temporary stabilisation.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

EUR/USD hits two-day highs near 1.1820

EUR/USD picks up pace and reaches two-day tops around 1.1820 at the end of the week. The pair’s move higher comes on the back of renewed weakness in the US Dollar amid growing talk that the Fed could deliver an interest rate cut as early as March. On the docket, the flash US Consumer Sentiment improves to 57.3 in February.

GBP/USD reclaims 1.3600 and above

GBP/USD reverses two straight days of losses, surpassing the key 1.3600 yardstick on Friday. Cable’s rebound comes as the Greenback slips away from two-week highs in response to some profit-taking mood and speculation of Fed rate cuts. In addition, hawkish comments from the BoE’s Pill are also collaborating with the quid’s improvement.

Gold climbs further, focus is back to 45,000

Gold regains upside traction and surpasses the $4,900 mark per troy ounce at the end of the week, shifting its attention to the critical $5,000 region. The move reflects a shift in risk sentiment, driving flows back towards traditional safe haven assets and supporting the yellow metal.

Crypto Today: Bitcoin, Ethereum, XRP rebound amid risk-off, $2.6 billion liquidation wave

Bitcoin edges up above $65,000 at the time of writing on Friday, as dust from the recent macro-triggered sell-off settles. The leading altcoin, Ethereum, hovers above $1,900, but resistance at $2,000 caps the upside. Meanwhile, Ripple has recorded the largest intraday jump among the three assets, up over 10% to $1.35.

Three scenarios for Japanese Yen ahead of snap election

The latest polls point to a dominant win for the ruling bloc at the upcoming Japanese snap election. The larger Sanae Takaichi’s mandate, the more investors fear faster implementation of tax cuts and spending plans.

XRP rally extends as modest ETF inflows support recovery

Ripple is accelerating its recovery, trading above $1.36 at the time of writing on Friday, as investors adjust their positions following a turbulent week in the broader crypto market. The remittance token is up over 21% from its intraday low of $1.12.