Crude Oil (WTI) Intraday: Look for 52.30

Swissquote Bank Research Team Swissquote Bank Ltd

Gold spot ($)

Key resistance at 1663.00.

Stay on top of the markets with Swissquote’s News & Analysis

Pivot (invalidation): 1663.00

Our preference
Short positions below 1663.00 with targets at 1646.00 & 1638.00 in extension.

Alternative scenario
Above 1663.00 look for further upside with 1672.00 & 1681.00 as targets.

Comment
Technically the RSI is below its neutrality area at 50.

Silver spot ($)

Key resistance at 18.6800.

Pivot (invalidation): 18.6800

Our preference
Short positions below 18.6800 with targets at 18.5100 & 18.4300 in extension.

Alternative scenario
Above 18.6800 look for further upside with 18.8200 & 18.9400 as targets.

Comment
Technically the RSI is below its neutrality area at 50.

Crude Oil (WTI)

Look for 52.30.

Pivot (invalidation): 51.10

Our preference
Long positions above 51.10 with targets at 52.00 & 52.30 in extension.

Alternative scenario
Below 51.10 look for further downside with 50.80 & 50.45 as targets.

Comment
The RSI is mixed to bullish.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

EUR/USD flirts with daily highs, retargets 1.1900

EUR/USD regains upside traction, returning to the 1.1880 zone and refocusing its attention to the key 1.1900 barrier. The pair’s slight gains comes against the backdrop of a humble decline in the US Dollar as investors continue to assess the latest US CPI readings and the potential Fed’s rate path.

GBP/USD remains well bid around 1.3650

GBP/USD maintains its upside momentum in place, hovering around daily highs near 1.3650 and setting aside part of the recent three-day drop. Cable’s improved sentiment comes on the back of the Greenback’s irresolute price action, while recent hawkish comments from the BoE’s Pill also collaborate with the uptick.

Gold clings to gains just above $5,000/oz

Gold is reclaiming part of the ground lost on Wednesday’s marked decline, as bargain-hunters keep piling up and lifting prices past the key $5,000 per troy ounce. The precious metal’s move higher is also underpinned by the slight pullback in the US Dollar and declining US Treasury yields across the curve.

Crypto Today: Bitcoin, Ethereum, XRP in choppy price action, weighed down by falling institutional interest

Bitcoin's upside remains largely constrained amid weak technicals and declining institutional interest. Ethereum trades sideways above $1,900 support with the upside capped below $2,000 amid ETF outflows.

Week ahead – Data blitz, Fed Minutes and RBNZ decision in the spotlight

US GDP and PCE inflation are main highlights, plus the Fed minutes. UK and Japan have busy calendars too with focus on CPI. Flash PMIs for February will also be doing the rounds. RBNZ meets, is unlikely to follow RBA’s hawkish path.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.