Market View – Monday, February 02, 2026

The US dollar is in a position of strength; XAUUSD is sharply low after a strong multi-week rally; EURUSD is within a correction mode, sliding toward 1.18500; Bitcoin trades near its lowest since 2025, slipping below $77,000 support.

Headway | 220 days ago

🔹The US dollar meets a stronger demand within a risk-off sentiment.

🔹Margin calls and forced selling across metals made gold lose $1,000 in three trading days (-20%)

🔹Dollar momentum dominates price action in EURUSD currently

🔹The recent selling pressure on bitcoin continues

📆 Today’s focus:

🔹US ISM Manufacturing PMI (Jan) due at 17:00 MMT

🌍 FX Snapshot:

🥇 XAUUSD – Gold has broken its bullish structure. However, short-term rebounds remain possible. Anyway, it's not a bubble, it’s a correction after the vertical January.

🇪🇺 EURUSD – The pair reacts to USD strength while holding above the technical zones. EURUSD is close to 1.19000 resistance following January’s rally.

💰 BTC – TBitcoin can’t find any local bottoms. Rumours had it that cryptoholders switched their positions to gold, but falling below $77,000 support (the lowest since last April) clearly shows the risk appetite’s deterioration.

❗️ Market tone❗️

Markets start the week under pressure with a broad risk aversion. Risk assets are being sold across the board, while the greenback stays firm. The main drivers are margin calls and stop outs in precious metals and crypto, followed by the shifted expectations around US monetary policy. The mood remains strictly defensive.

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VT Markets | 3 days ago

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EURUSD	1.16078	GBPUSD	1.35055
USDJPY	154.469	USDCAD	1.38391