French CPI was published in January and reached 0.4%. This proves that the consumer price index in France has increased, which also directly assesses the rising inflation.

French Finance Minister Le Maire: The France economy is solid, and it is expected to grow in 2023.

French GDP figures also show that the economy is growing.

DXY rebounded strongly after a slight pullback in the European session. The market’s expectation of the Fed raising interest rate by 25bps is also a factor for the weak dollar valuation, and there is a possibility of recovery.

After the release of the French CPI, EUR/USD dips strongly. The dollar is recovering and it will be the basis to put pressure on EUR/USD.

Trading Direction: Short

Entry Price: 1.08481

Target Price:1.07970

Stop Loss: 1.08645

Support: 1.08330

Resistance: 1.08591

The latest data released on January 26th showed that the U.S. GDP grew at an annualized rate of 2.9%, higher than the expected 2.6%. Moreover, the U.S. economy is more resilient than many believe, plus the U.S. labor market remains strong and labor is still in short supply, which may continue to put upward pressure on wages and thus push up inflation. This may again boost the market expectations of the Fed raising interest rates, while the Fed officials also reinforced the hawkish tone in the December FOMC meeting, maintained a hawkish attitude, and demonstrated that it is appropriate to keep interest rate above 5% for a certain period in 2024. Besides, the FOMC meeting to be held tomorrow night may maintain a hawkish tone.

Regarding the daily chart, ETH-USDT closed with a long-upper-shadow candlestick yesterday. Furthermore, the candlestick chart indicated a descending bear candle, while MACD showed a bearish death cross, all suggesting that ETH-USDT may turn downward soon.  

Referring to the 1H chart, ETH-USDT declined slowly yesterday, and dropped below the low level during the European session, followed by another decline regularly after the upward reversal during the U.S. session. Currently, a golden cross emerges in the low of MACD, and the current low price may reverse upward with oscillation with the high position in 1590-1595 and the low position near 1530. Tactically, it is recommended to trade the short positions after the upward reversal of ETH-USDT and go short after it rebounds to 1590-1595. Furthermore, the stop-loss is set near 1620 while taking profits in 1530-1515.

Trading direction: Short

Entry price: 1590

Target price: 1530

Stop loss: 1620

Support: 1530/1500

Resistance: 1600/1680

Spot gold prices oscillated narrowly during the Asian session on Jan. 31, currently trading near $1,922. Spot gold closed down 0.28% at $1,923.06 on Monday. Gold prices have surged 17.7% in the past three months and have accumulated more than 5% gains after entering 2023. While hedge funds have increased their bullish bets on gold, many analysts have warned that this week's Fed interest rate resolution is very important for gold price tendency. If Powell released hawkish signals, gold prices may pull back.

Despite the strong technical bullish momentum in gold prices, analysts continue to warn investors that gold prices have hit resistance at nine-month highs and are ripe for a pullback. The main points of view are as follows.

Nicky Shiels, head of metals strategy at MKS PAMPs, noted that total hedge fund longs of 16 million ounces of gold are still below last year's peak of 21 million ounces. She added that while gold prices have some room to rise, they may be sensitive to the Fed's monetary policy decision this week.

"It's getting better, but it's not quite there yet," Shiels said. "There was a lot of noise during the latest very critical FOMC meeting and Powell may depress market expectations and become more hawkish."

Adrian Day, chairman and CEO of Adrian Day Asset Management, believes gold is vulnerable to a pullback with the Fed's decision to raise rates this week, as Fed Chairman Jerome Powell will take a hawkish tone at his press conference that day. He explained: "I think gold is vulnerable to a pullback because the market is so convinced that the Fed will raise rates by 25 basis points and pause for a rate hike in March."

Adrian Day warned that if Powell makes hawkish comments and downplays the idea of a pause in rate hikes, it could temporarily push gold prices below $1,900 an ounce. He also clarified that if the Fed continues to raise interest rates beyond expectations, it will "damage" the gold market.

In the daily chart, following last Thursday's high of 1949, gold prices appeared 3 days of retracement, and the first rounding top pattern sign was obvious. MACD is now running to an overbought area, and a death cross bearish signal appeared. Gold prices recorded 4 consecutive bear candles, and its short-term top sign was obvious, with initial support below near the 20-day moving average of 1900.

Trade direction: Short

Entry price: 1919.000

Target price: 1885.000

Stop loss: 1949.000

Support: 1900.000, 1885.000

Resistance: 1950.000, 1959.000

On the news front, Minmetals Resources made an announcement on Monday morning (Jan. 30) that after the transportation was blocked and affected inbound and outbound transport, its Las Bambas copper mine in Peru was forced to gradually slow down operations due to the shortage of key materials. In China, SMM copper social stocks increased by 27,900 tons to 263,900 tons from last Friday.

In terms of supply and demand, in China, according to SMM, most of the refined copper rod companies re-opened successively from the seventh to the ninth day of the Chinese New Year, and the start-up rate of the refined copper rod industry showed a rebound. However, as copper rod manufacturers have a certain number of finished products ready for storage before the Spring Festival, the production pace after the festival is not fast. And on the first trading day after the festival, affected by the downstream did not resume work and high copper prices, the volume of orders is not much. It is expected that consumption will only gradually return to normal around the 15th day of the Chinese New Year.

On the macro level, this week's Fed rate hike of 25 basis points is not in doubt, and the key is to assess the lag effect of the rate hike and the impact on the economy, with booming employment likely to exacerbate inflation concerns once again, according to the "Fedwire".

Overall, the market is now very confident that the Fed is about to slow down its rate hike to 25 basis points; traders should be wary of the rate hikes. On the supply side, China's national inventory has increased for 5 consecutive weeks since the end of December; smelters did not shut down during the Spring Festival but the downstream has been on holiday; oversupply has led to a continuous increase in inventory. On the demand side, processing companies will be opened in recent days to resume work and production, but high copper prices will cause a certain drag on downstream demand. The detailed situation needs to pay attention to the actual demand and confidence of end consumption. The current key issue of the off-season accumulation is expected, but if the late depot is not smooth, then it is a price reduction to the depot process for copper prices; at that time the copper will fall more smoothly driven by spots. In the short and medium term, macro-optimistic expectations and the risk of supply disturbance in overseas origin Peru will support copper prices. However, in China, acceleration in the pace of accumulation will limit the further upward height of copper prices, with copper prices turning to oscillate at highs. In the short term, aggressive traders are advised to cautiously short-sell at highs.

In the daily chart, in the last six months, the box running trend is rather obvious. The current price is at the upper edge of the box and has moved downward, and the MACD indicator is still in the overbought range and has a bearish signal of a death cross. Beware of a sustained price retracement in the chart.

Trading direction: Short

Entry price: 9280

Target price: 8600

Stop loss: 9560

Support: 9000/8600

Resistance: 9560/9760

Bitcoin, the world's largest and best-known cryptocurrency, is up 40.6% from its annual low of $16,496 on January 1st.

Ether, the coin linked to the Ethereum blockchain network, rose 0.58% to $1,668.1 on Saturday, adding $9.7 to its previous close.

Bitcoin's strong bull run continues, clearing key resistance levels and heading towards $25,000.

Looking for a short trade is a bad idea, but since the bullish momentum is likely to wane, we see a bearish retracement to the next support level of $21,599 as the best potential opportunity.

It was a good decision, but a slow one, as the price traded sideways that day and has continued to rise ever since.

Technical conditions have become more bullish over the past day and hours, with the price hitting a 6-month high yesterday, surpassing previous resistance levels of $23,629 in the last few hours, but now reversing. It looks like you are. New support.

Bitcoin is up about 40% in his January 2023, definitely in a new long-term uptrend, suggesting the best opportunity here is on the long side.

If I get a touch of $23,629, I'm happy to enter the long trade. Bulls should be aware that there are two levels of resistance between the current price and the big $25,000 round number.

Another interesting time to trade Bitcoin.

It continued its gains on Monday as traders received news of another crypto bust and bet on the Federal Reserve's "pivot" to cut interest rates.

According to Coin Metrics, the price of the No. 1 token briefly crossed $23,100 on Monday after hitting $23,333.83 for the first time since Aug. 19 on Saturday. The jump has pushed Bitcoin up almost 39% since early January.

The second largest digital coin, he soared to $1,664.78 on Saturday. It crossed $1,600 for the first time since November 7, 2022. Shares last traded at $1,637.40.

Bitcoin has started 2023 positively as investors hope for a reversal in the monetary tightening that has worried market participants over the past year.

The Fed and other central banks will begin cutting rates in his 2022, shocking holders of riskier asset classes such as stocks and digital tokens. Public tech stocks and private-venture-backed start-ups were particularly hard hit as investors sought protection in assets deemed safer, such as cash and bonds.

It was a bullish Saturday as BTC rose 3.11% to end the week at $23,746.

Investors dismissed Friday's strengthened crypto market review, showing sentiment that the Fed's monetary policy provided support.

The Fear & Greed Index responded to the bullish session, rising from 55/100 to 61/100.

Bitcoin (BTC) rose 3.11% on Sunday. After dropping 0.16% on Saturday, BTC rose 4.55% to $23,746. BTC hit a 2023 all-time high of $23,962, dropping below $23,000 for the first time since August 19.

A mixed start to the day saw BTC reach an early low of $23,000 before it could make a move. BTC fended off the first major support level (S1) at his $22,876 and climbed to a late high of $23,962. BTC has broken through a major resistance level to end the day at $23,746. The third major resistance level (R3) at $23,639 provided second-half support.

Trading Direction: SHORT only once today candle closes below 22700

Entry Price: 22699

Target Price: 20670

Stop Loss: 24000

USDCAD has been in a downtrend since the middle of October 2022 , when the pair fell to a low of 1.32349. Since then, it has fallen further and is now trading around 1.35335

Analysing the H4 chart for USDCAD, my overall outlook is bearish since the price is now below the previous support. I'm aiming for a sell entry at 1.33524, a point where the resistance and 23.6% Fibonacci line intersect. My stop loss will be set at 1.34400, near the latest swing. My take profit target is 1.326 , which is the fibonacci extension level

SELL USDCAD

ENTRY PRICE :1.3375

TAKE PROFIT : 1.32500

STOPLOSS   : 1.3440