USD/CHF: Bears are playing at front foot and approaching 0.9250 level

Overview: USD/CHF pair is turning down once again after arriving at 0.9800 levels we have seen reversal candlesticks on the daily time frame. Well, this was not a surprise for us as we have seen strong supply pressure from the 0.9900 to 0.9367 level already.

Currently, pair is trading below major and minor EMA lines and the outlook insists us to have a bearish view now and it will further confirm once we see a daily closing below the 0.9300 level. In our previous report also we mentioned to sell the pair around 0.9850 for the target of 0.9600 and 0.9500 and our targets have been achieved easily so we are expecting that readers must have made a profit from this move.

Technical Analysis: From a technical prospective we can see that a rounding top pattern has been formed where bears are leading and playing at front foot. Well they way bears are reacting it seems like 0.9500 level is the very next target and further down is still on the cards.

Also, a clear cut breakout of the symmetrical triangle pattern we can see on the daily technical chart which favors the bears. The primary trend is down and secondary trend is also down and in a downtrend market always sell on highs will be a profitable strategy. A very short term uptrend line has been breached out by bears at an initial level.

Pair is trading below all the major and minor EMA lines which suggest that go for short and add more shorts below 0.9250 level. Odds are in favor of bears and intraday bias remains bearish on the pair as long as 0.9680 levels remain intact. RSI has turned down so we may see some selling pressure in the pair. A bearish crossover on the MACD indicator is also providing us a bearish signal.

What next: The 0.9500 is key resistance level followed by 0.9650 level whereas 0.9250 level which is a key support level followed by 0.9100 level.

Trade idea: Based on the chart and study above we can suggest go for sell at current levels 0.9370 for the target of 0.9250 and 0.9100 stop loss is 0.9550.

EUR/USD looks offered below 1.1900

EUR/USD keeps its bearish tone unchanged ahead of the opening bell in Asia, returning to the sub-1.1900 region following a firmer tone in the US Dollar. Indeed, the pair reverses two consecutive daily gains amid steady caution ahead of Wednesday’s key US Nonfarm Payrolls release.

GBP/USD slips back to daily lows near 1.3640

GBP/USD drops to daily lows near 1.3640 as sellers push harder and the Greenback extends its rebound in the latter part of Tuesday’s session. Looking ahead, the combination of key US releases, including NFP and CPI, alongside important UK data, should keep the pound firmly in focus over the coming days.

Gold the battle of wills continues with bulls not ready to give up

Gold remains on the defensive and approaches the key $5,000 region per troy ounce on Tuesday, giving back part of its recent two day. The precious metal’s pullback unfolds against a firmer tone in the US Dollar, declining US Treasury yields and steady caution ahead of upcoming key US data releases.

Bitcoin's downtrend caused by ETF redemptions and AI rotation: Wintermute

Bitcoin's (BTC) fall from grace since the October 10 leverage flush has been spearheaded by sustained ETF outflows and a rotation into the AI narrative, according to Wintermute.

Dollar drops and stocks rally: The week of reckoning for US economic data

Following a sizeable move lower in US technology Stocks last week, we have witnessed a meaningful recovery unfold. The USD Index is in a concerning position; the monthly price continues to hold the south channel support.

XRP holds $1.40 amid ETF inflows and stable derivatives market

Ripple trades under pressure, with immediate support at $1.40 holding at the time of writing on Tuesday. A recovery attempt from last week’s sell-off to $1.12 stalled at $1.54 on Friday, leading to limited price action between the current support and the resistance.