Gold
-
Gold held strong support at 3220/3216 through most of the day in a very quiet session, although dipped to 3211 briefly at lunchtime.
-
After 2 days of the expected consolidation Gold beat the all time high at 3245 over night for a new buy signal to hit the next target of 3255/60
-
The break above 3260 has already hit the next target of 3271/74 & I expect to see 3280/83 before the end of the day.
-
Above 3285 look for 3300/3304.
-
Support at 3247/43 & longs need stops below 3233.
-
A break lower retests 3219/15 & longs need stops below 3209.
Silver
-
Silver holding above 3230 is a buy signal for this week targeting 3245/50 (hit as I write this morning) & even 3270/75 is likely.
-
Support at 3170/50 & longs need stops below 3130.
WTI Crude may future
Last session low & high: 6088 - 6206.
(To compare the spread with the contract that you trade).
WTI Crude held a small range inside of Monday's range.
A break above Monday's high of 6268 can retest minor resistance at 6340/80. Shorts need stops above 6420. A break higher can target 6550/6590 for profit taking on longs.
Minor support at 6080/40 but below here can target risks a retest of support at 5940/5900. Longs here need stops below 5830. A break below 5830 could hit 5700/5680.
The contents of our reports are intended to be understood by professional users who are fully aware of the inherent risks in Forex, Futures, Options, Stocks and Bonds trading. INFORMATION PROVIDED WITHIN THIS MATERIAL SHOULD NOT BE CONSTRUED AS ADVICE AND IS PROVIDED FOR INFORMATION AND EDUCATION PURPOSES ONLY.
Recommended Content
Editors’ Picks
Gold leaps toward $3,450 as Israel launches attacks on Iran
Gold price rises to over five-month highs, nearing $3,450 in the Asian trading hours on Friday. Israel confirmed strikes on Iran's nuclear facilities, fuelling a broad wave of risk aversion while driving the safe-haven Gold price through the roof. Rising Fed rate cut bets also underpin the non-yielding Gold.
AUD/USD remains heavy below 0.6500 amid intense risk aversion on Israel-Iran confict
AUD/USD is off the low but remains heavy below 0.6500 in Friday's risk-off Asian affair. Trump's fresh tariff news and escalating Israel-Iran geopolitical tensions weigh on investors' sentiment and the risk-sensitive Aussie. Broad US Dollar rebound also adds to the pair's downside.
USD/JPY holds losses near 143.00 amid geopolitical risks
USD/JPY keeps the red near 143.00, reversing a quick dip to the 142.80 region in Asian trading on Friday. The global risk sentiment takes a hit amid an escalation of geopolitical tensions in the Middle East, which boosts the Japanese Yen's safe-haven status.
Bitcoin, Ethereum and Ripple dips as Israel-Iran conflicts escalate
Bitcoin, Ethereum, and Ripple prices have dipped as escalating geopolitical tension between Israel and Iran has triggered a risk-off sentiment in the cryptocurrency markets. The top three cryptocurrencies by market capitalization are extending their losses heading into the weekend, with the price action suggesting further correction.
US tariffs here to stay, trade deals ‘largely symbolic’
Despite legal challenges to IEEPA tariffs, US trade policy remains firm. Tariffs on steel and aluminium have doubled, and new sectoral tariffs are expected. Trade deals may emerge, but most will be symbolic. Effective tariff rates will stay high throughout 2025.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.