Swissquote Bank Research Team
Swissquote Bank Ltd
EUR/USD
Capped by a negative trend line
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Pivot (invalidation): 1.1095
Our preference
Short positions below 1.1095 with targets at 1.1070 & 1.1050 in extension.
Alternative scenario
Above 1.1095 look for further upside with 1.1115 & 1.1135 as targets.
Comment
As Long as the resistance at 1.1095 is not surpassed, the risk of the break below 1.1070 remains high.
GBP/USD
1.2155 expected
Pivot (invalidation): 1.2230
Our preference
Short positions below 1.2230 with targets at 1.2190 & 1.2155 in extension.
Alternative scenario
Above 1.2230 look for further upside with 1.2255 & 1.2280 as targets.
Comment
A break below 1.2190 would trigger a drop towards 1.2155.
USD/JPY
Turning down
Pivot (invalidation): 106.20
Our preference
Short positions below 106.20 with targets at 105.60 & 105.35 in extension.
Alternative scenario
Above 106.20 look for further upside with 106.50 & 106.75 as targets.
Comment
The RSI shows downside momentum.
This report has been prepared by Swissquote Bank Ltd and is solely been published for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any currency or any other financial instrument. Views expressed in this report may be subject to change without prior notice and may differ or be contrary to opinions expressed by Swissquote Bank Ltd personnel at any given time. Swissquote Bank Ltd is under no obligation to update or keep current the information herein, the report should not be regarded by recipients as a substitute for the exercise of their own judgment.
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EUR/USD surpasses 1.0600 to print daily highs
The US Dollar now accelerates its daily pullback and lends extra suppoer to the risk-associated complex on Monday, lifting EUR/USD back above the 1.0600 barrier, or three-day peaks.
GBP/USD gathers extra pace and approaches 1.2700
GBP/USD maintains its positive start to the week and regains further traction on the back of the increasing selling pressure hurting the Greenback at the beginning of the week. Against that, Cable keeps the optimism in place and refocuses on the 1.2700 zone.
Gold gives signs of life and reclaims $2,600/oz
After suffering large losses in the previous week, Gold gathers recovery momentum and trades in positive territory above $2,600 on Monday. In the absence of high-tier data releases, escalating geopolitical tensions help XAU/USD hold its ground.
Bonk holds near record-high as traders cheer hefty token burn
Bonk (BONK) price extends its gains on Monday after surging more than 100% last week and reaching a new all-time high on Sunday. This rally was fueled by the announcement on Friday that BONK would burn 1 trillion tokens by Christmas.
The week ahead: Powell stumps the US stock rally as Bitcoin surges, as we wait Nvidia earnings, UK CPI
The mood music is shifting for the Trump trade. Stocks fell sharply at the end of last week, led by big tech. The S&P 500 was down by more than 2% last week, its weakest performance in 2 months, while the Nasdaq was lower by 3%. The market has now given back half of the post-Trump election win gains.
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