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Bitcoin is trading above 11000, confirming its upward trend and approaching resistance at 12130 (18/01/2018 high). Strong support remains at 5605 (13/11/2017 low). The short-term technical structure suggests further upside moves.

In the long-term, the digital currency has had an exponential growth but also presented important downturns. There is decent likelihood that the currency could stabilize between 7'000 - 12'000 in 2018. Bitcoin is trading above its 200 DMA (6'500 range)

EUR/CHF is trading sideways at the 1.15 range following recent decline at 1.1448 (08/02/2018 low). Hourly resistance is at 1.1685 (26/01/2018 high) while strong resistance remains at 1.1833 (15/01/2018 high). Hourly support is given at 1.1388 (02/10 2017 low). The technical structure suggests further short-term sideways moves.

In the longer term, the technical structure has reversed. Strong resistance is given at 1.20 (level before the unpeg). Yet, the ECB's slowing QE program is likely to cause buying pressures on the euro, which should weigh in favour of the EUR/CHF. Support can be found at 1.0234 (20/04/2015 low).

EUR/GBP is maintained close of hourly resistance at 0.8929 (12/01/2018 high). Hourly support at 0.8687 (25/01/2018) remains distant. The technical structure suggests further shortterm sideways move.

In the long-term, the pair has largely recovered from 2015 lows. The technical structure suggests further upside pressure. The pair is trading below its 200 DMA. Strong resistance can be found at 0.9500 (psychological level) while support remains at 0.8304 (05/12/2016 low).

AUD/USD is trading sideways at 0.79 after its short-term bullish momentum, close to hourly resistance at 0.7999 (17/01/2018 high). Hourly support remains at 0.7638 (15/12/2017 low). The technical structure suggests further short-term sideways moves.

In the long-term, the upward trend resumes after failing to reach key resistance at 0.8164 (14/05/2015 low). Key support stands at 0.6009 (31/10/2008 low). A break of the key resistance at 0.8164 (14/05/2015 high) is needed to invalidate our long-term bearish view.

USD/CAD keeps increasing, recovering from December downward trend. The pair is approaching the 1.26 range. Hourly resistance is maintained at 1.2748 (24/11/2017 high) and support is given at 1.2251 (31/01/2018 low). The technical structure indicates that further shortterm rise is expected.

In the longer term, the pair is trading between resistance point at 1.3805 (05/05/2017 high) and support at 1.2128 (18/06/2015 low). Strong resistance is given at 1.4690 (22/01/2016 high). The pair is likely to head lower. The pairs is trading below its 200 DMA.

USD/CHF ended its short-term downward trend, heading for further rise along 0.94. Hourly resistance stands at 0.9559 (24/01/2018 high) while stronger resistance remains at 0.9668 (17/01/2018 high).

In the long-term, the pair is still trading in range since 2011 despite some turmoil when the SNB unpegged the CHF. Key support lies at 0.9072 (07/05/2015 low) while resistance at 1.0344 (15/12/2016 high) is distanced. The technical structure favours a long term bullish bias since the unpeg in January 2015.

USD/JPY is rising, outreaching the 107 range and approaching hourly resistance at 109.40 (06/09/2018 high). Strong hourly resistance remains at 113.75 (12/12/2017). The technical structure suggests short-term upside moves.

We favor a long-term bearish bias. Support at 105.55 (03/05/2016 low) is almost reached. A gradual rise toward the major resistance at 125.86 (05/06/2015 high) seems unlikely. Expected to decline further support at 101.20 (09/11/2016 low).

GBP/USD is trading below 1.40, heading for hourly resistance at 1.3742 (16/01/2018 low). The technical structure suggests further upside move.

The long-term technical pattern is reversing. The Brexit vote had paved the way for further decline but the pair is moving to 2016 highs. Long-term support and resistance are given at 1.1841 (07/10/2017 low) and 1.5018 (24/06/2016 high).

EUR/USD is slowing down its decrease after its break of resistance at 1.2537 (25/01/2018 high). Heading toward 1.23 range. Hourly support at 1.2165 (17/01/2018 low) is approaching. The technical structure suggests further downside moves.

In the longer term, the momentum is turning largely positive. We favor a continued bullish bias. Key resistance is holding at 1.2886 (15/10/2014 high) while strong support lies at 1.1554 (08/11/2017 low).

Bitcoin keeps grinding higher

Cryptocurrencies got off to rocky start in February amid a broad sell-off that wiped out $550 billion from the crypto market. However, the market got through this bad patch and started to recover as the mood of investors improved progressively. On Tuesday, the price of Bitcoin rose around 5% and hit $11,646, the highest level since January 29th. The price is approaching a key resistance area at around $12,000 (previous highs), while the 50-day moving average currently lies at $12,260.

Investors have shown a lot of patience recently as they did not jumped back into Bitcoin after the sharp sell-off. However, they are slowly coming back into crypto and are carefully avoiding to giving way to panic buying.

Elsewhere, the entire alt-coins complex has seen significant inflow, although uneven. Indeed, the first quarter of 2018 looks very promising as many crypto-companies have of will release mainnet version of beta product. Kyber Network is finally done with testnet as they launched their platform on the Ethereum mainnet a few days ago – the pilot launch will run until April this year. OmiseGo is also expected to deliver in the first quarter (or second quarter at the latest).

Overall, we remain very positive on cryptocurrencies, 2018 will be a key year. However, investors have to keep in mind that many coins will not make it this year and that they should focus on the good projects that will deliver a working product.

Stealth USD in play

The greenback continues to gain, yet reasons are still vague. Is it shorts unwinding, reaction to renewed bond sell-off's, risk aversion or catchup to wide yields spreads? There is no shortage of optimism around the US economic health (accelerated by massive fiscal spending) but balanced out by bearish commentary over equities and twin deficits. US 10yrs yields are now edging back up after US Presidents day but still below Valentine’s day high. Failure of EURUSD to break new highs at 1.2555 put the pair in corrective mode. Should German ZEW and EU PMI coming in weaker than expected plus ECB sounding less hawkish we should get continuation of pair bearish trend.