Swissquote Bank Research Team
Swissquote Bank Ltd
Gold spot ($)
Further upside.
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Pivot (invalidation): 1205.00
Our preference
Long positions above 1205.00 with targets at 1215.00 & 1220.00 in extension.
Alternative scenario
Below 1205.00 look for further downside with 1198.50 & 1196.00 as targets.
Comment
The RSI advocates for further upside.
Silver spot ($)
Further upside.
Pivot (invalidation): 14.0000
Our preference
Long positions above 14.0000 with targets at 14.2100 & 14.3200 in extension.
Alternative scenario
Below 14.0000 look for further downside with 13.9400 & 13.8700 as targets.
Comment
The RSI advocates for further advance.
Crude Oil (WTI)
The bias remains bullish.
Pivot (invalidation): 55.50
Our preference
Long positions above 55.50 with targets at 56.50 & 57.35 in extension.
Alternative scenario
Below 55.50 look for further downside with 54.75 & 53.95 as targets.
Comment
The next resistances are at 56.50 and then at 57.35.
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.
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Editors’ Picks
AUD/USD remained bid above 0.6500
AUD/USD extended further its bullish performance, advancing for the fourth session in a row on Thursday, although a sustainable breakout of the key 200-day SMA at 0.6526 still remain elusive.
EUR/USD faces a minor resistance near at 1.0750
EUR/USD quickly left behind Wednesday’s small downtick and resumed its uptrend north of 1.0700 the figure, always on the back of the persistent sell-off in the US Dollar ahead of key PCE data on Friday.
Gold holds around $2,330 after dismal US data
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Bitcoin price continues to get rejected from $65K resistance as SEC delays decision on spot BTC ETF options
Bitcoin (BTC) price has markets in disarray, provoking a broader market crash as it slumped to the $62,000 range on Thursday. Meanwhile, reverberations from spot BTC exchange-traded funds (ETFs) continue to influence the market.
US economy: slower growth with stronger inflation
The dollar strengthened, and stocks fell after statistical data from the US. The focus was on the preliminary estimate of GDP for the first quarter. Annualised quarterly growth came in at just 1.6%, down from the 2.5% and 3.4% previously forecast.