Swissquote Bank Research Team
Swissquote Bank Ltd
Gold Spot ($)
Expect 1477.00.
Stay on top of the markets with Swissquote’s News & Analysis
Pivot (invalidation): 1487.50
Our preference
Short positions below 1487.50 with targets at 1480.50 & 1477.00 in extension.
Alternative scenario
Above 1487.50 look for further upside with 1490.50 & 1494.00 as targets.
Comment
As Long as the resistance at 1487.50 is not surpassed, the risk of the break below 1480.50 remains high.
Silver Spot ($)
Target 17.3800.
Pivot (invalidation): 17.6500
Our preference
Short positions below 17.6500 with targets at 17.4700 & 17.3800 in extension.
Alternative scenario
Above 17.6500 look for further upside with 17.7700 & 17.8700 as targets.
Comment
The RSI lacks upward momentum.
Crude Oil (WTI)
Key resistance at 53.60.
Pivot (invalidation): 53.60
Our preference
Short positions below 53.60 with targets at 53.20 & 53.00 in extension.
Alternative scenario
Above 53.60 look for further upside with 54.00 & 54.25 as targets.
Comment
The RSI has just struck against its neutrality area at 50% and is reversing down.
This report has been prepared by Swissquote Bank Ltd and is solely been published for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any currency or any other financial instrument. Views expressed in this report may be subject to change without prior notice and may differ or be contrary to opinions expressed by Swissquote Bank Ltd personnel at any given time. Swissquote Bank Ltd is under no obligation to update or keep current the information herein, the report should not be regarded by recipients as a substitute for the exercise of their own judgment.
Recommended Content
Editors’ Picks
US economy grows at an annual rate of 1.6% in Q1 – LIVE
The US' real GDP expanded at an annual rate of 1.6% in the first quarter, the US Bureau of Economic Analysis' first estimate showed on Thursday. This reading came in worse than the market expectation for a growth of 2.5%.
EUR/USD retreats to 1.0700 after US GDP data
EUR/USD came under modest bearish pressure and retreated to the 1.0700 area. Although the US data showed that the economy grew at a softer pace than expected in Q1, strong inflation-related details provided a boost to the USD.
GBP/USD declines below 1.2500 with first reaction to US data
GBP/USD declined below 1.2500 and erased a portion of its daily gains with the immediate reaction to the US GDP report. The US economy expanded at a softer pace than expected in Q1 but the price deflator jumped to 3.4% from 1.8%.
Gold falls below $2,330 as US yields push higher
Gold came under modest bearish pressure and declined below $2,330. The benchmark 10-year US Treasury bond yield is up more than 1% on the day after US GDP report, making it difficult for XAU/USD to extend its daily recovery.
XRP extends its decline, crypto experts comment on Ripple stablecoin and benefits for XRP Ledger
Ripple extends decline to $0.52 on Thursday, wipes out weekly gains. Crypto expert asks Ripple CTO how the stablecoin will benefit the XRP Ledger and native token XRP.