USD/CHF pushes higher and now the technical pattern top is in focus

USD/CHF is trading higher this morning after a risk-on move.
It has been reported that China and the US may remove tariffs.

Rajan Dhall, MSTA FX Daily

On the 4-hour chart below USD/CHF looks like it may be set to test the top of the triangle pattern that has been forming since October,

The move today came after reports that China and US agree to phased rollback of extra trade war tariffs.

The indices are all trading higher after a move away from safe-haven assets was noted. Gold, JPY and CHF all suffered, while the DAX and the FTSE 100 rallied.

Any break of this pattern would be seen as risk positive but there are still a few things to contend with later in the session. We are due to hear from Fed's Bostic and Kaplan and we will also get the latest initial jobless claims data later in the session.

USD/CHF

Overview
Today last price	0.9933
Today Daily Change	0.0010
Today Daily Change %	0.10
Today daily open	0.9923

Trends
Daily SMA20	0.9916
Daily SMA50	0.9916
Daily SMA100	0.987
Daily SMA200	0.9955

Levels
Previous Daily High	0.9941
Previous Daily Low	0.9915
Previous Weekly High	0.997
Previous Weekly Low	0.985
Previous Monthly High	1.0028
Previous Monthly Low	0.9837
Daily Fibonacci 38.2%	0.9925
Daily Fibonacci 61.8%	0.9931
Daily Pivot Point S1	0.9912
Daily Pivot Point S2	0.99
Daily Pivot Point S3	0.9886
Daily Pivot Point R1	0.9938
Daily Pivot Point R2	0.9952
Daily Pivot Point R3	0.9964

Author

Rajan Dhall, MSTA

FX Daily

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

EUR/USD climbs to two-week highs beyond 1.1900

EUR/USD is keeping its foot on the gas at the start of the week, reclaiming the 1.1900 barrier and above on Monday. The US Dollar remains on the back foot, with traders reluctant to step in ahead of Wednesday’s key January jobs report, allowing the pair to extend its upward grind 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 treads water around $5,000

Gold is trading in an inconclusive fashion around the key $5,000 mark on Monday week. Support is coming from fresh signs of further buying from the PBoC, while expectations that the Fed could turn more dovish, alongside concerns over its independence, keep the demand for the precious metal running.

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.