Swissquote Bank Research Team
Swissquote Bank Ltd
Gold spot ($)
1279.00 in sight.
Stay on top of the markets with Swissquote’s News & Analysis
Pivot (invalidation): 1289.50
Our preference
Short positions below 1289.50 with targets at 1281.75 & 1279.00 in extension.
Alternative scenario
Above 1289.50 look for further upside with 1293.00 & 1295.25 as targets.
Comment
The RSI shows downside momentum.
Silver spot ($)
14.3700 expected.
Pivot (invalidation): 14.6300
Our preference
Short positions below 14.6300 with targets at 14.4300 & 14.3700 in extension.
Alternative scenario
Above 14.6300 look for further upside with 14.7400 & 14.8100 as targets.
Comment
The RSI is bearish and calls for further decline.
Crude Oil (WTI)
Supported by a rising trend line.
Pivot (invalidation): 62.75
Our preference
Long positions above 62.75 with targets at 63.65 & 64.15 in extension.
Alternative scenario
Below 62.75 look for further downside with 62.25 & 61.95 as targets.
Comment
The RSI is bullish and calls for further advance.
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
EUR/USD retreats to 1.0750, eyes on Fedspeak
EUR/USD stays under modest bearish pressure and trades at around 1.0750 on Wednesday. Hawkish comments from Fed officials help the US Dollar stay resilient and don't allow the pair to stage a rebound.
GBP/USD struggles to hold above 1.2500 ahead of Thursday's BoE event
GBP/USD stays on the back foot and trades in negative territory below 1.2500 after losing nearly 0.5% on Tuesday. The renewed US Dollar strength on hawkish Fed comments weighs on the pair as market focus shifts to the BoE's policy announcements on Thursday.
Gold fluctuates in narrow range above $2,300
Gold struggles to make a decisive move in either direction and moves sideways in a narrow channel above $2,300. The benchmark 10-year US Treasury bond yield clings to modest gains near 4.5% and limits XAU/USD's upside.
SEC vs. Ripple lawsuit sees redacted filing go public, XRP dips to $0.51
Ripple (XRP) dipped to $0.51 low on Wednesday, erasing its gains from earlier this week. The Securities and Exchange Commission (SEC) filing is now public, in its redacted version.
Softer growth, cooler inflation and rate cuts remain on the horizon
Economic growth in the US appears to be in solid shape. Although real GDP growth came in well below consensus expectations, the headline miss was mostly the result of larger-than-anticipated drags from trade and inventories.