Gold spot intraday: The downside prevails

Swissquote Bank Research Team Swissquote Bank Ltd

Gold spot: The downside prevails

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

Pivot (invalidation): 1953.00

Our preference
Short positions below 1953.00 with targets at 1929.00 & 1919.00 in extension.

Alternative scenario
Above 1953.00 look for further upside with 1962.00 & 1973.00 as targets.

Comment
The RSI shows downside momentum.

Silver spot: The downside prevails

Pivot (invalidation): 27.1000

Our preference
Short positions below 27.1000 with targets at 26.5400 & 26.2000 in extension.

Alternative scenario
Above 27.1000 look for further upside with 27.4300 & 27.6100 as targets.

Comment
A break below 26.5400 would trigger a drop towards 26.2000.

Crude Oil (WTI): The bias remains bullish

Pivot (invalidation): 39.40

Our preference
Long positions above 39.40 with targets at 40.30 & 40.85 in extension.

Alternative scenario
Below 39.40 look for further downside with 38.80 & 38.25 as targets.

Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

EUR/USD hits two-day highs near 1.1820

EUR/USD picks up pace and reaches two-day tops around 1.1820 at the end of the week. The pair’s move higher comes on the back of renewed weakness in the US Dollar amid growing talk that the Fed could deliver an interest rate cut as early as March. On the docket, the flash US Consumer Sentiment improves to 57.3 in February.

GBP/USD reclaims 1.3600 and above

GBP/USD reverses two straight days of losses, surpassing the key 1.3600 yardstick on Friday. Cable’s rebound comes as the Greenback slips away from two-week highs in response to some profit-taking mood and speculation of Fed rate cuts. In addition, hawkish comments from the BoE’s Pill are also collaborating with the quid’s improvement.

Gold climbs further, focus is back to 45,000

Gold regains upside traction and surpasses the $4,900 mark per troy ounce at the end of the week, shifting its attention to the critical $5,000 region. The move reflects a shift in risk sentiment, driving flows back towards traditional safe haven assets and supporting the yellow metal.

Crypto Today: Bitcoin, Ethereum, XRP rebound amid risk-off, $2.6 billion liquidation wave

Bitcoin edges up above $65,000 at the time of writing on Friday, as dust from the recent macro-triggered sell-off settles. The leading altcoin, Ethereum, hovers above $1,900, but resistance at $2,000 caps the upside. Meanwhile, Ripple has recorded the largest intraday jump among the three assets, up over 10% to $1.35.

Three scenarios for Japanese Yen ahead of snap election

The latest polls point to a dominant win for the ruling bloc at the upcoming Japanese snap election. The larger Sanae Takaichi’s mandate, the more investors fear faster implementation of tax cuts and spending plans.

XRP rally extends as modest ETF inflows support recovery

Ripple is accelerating its recovery, trading above $1.36 at the time of writing on Friday, as investors adjust their positions following a turbulent week in the broader crypto market. The remittance token is up over 21% from its intraday low of $1.12.