Silver spot Intraday: Support around 14.3700

Swissquote Bank Research Team Swissquote Bank Ltd

Gold spot ($)

Range.

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

Pivot (invalidation): 1272.00

Our preference
Long positions above 1272.00 with targets at 1277.50 & 1279.50 in extension.

Alternative scenario
Below 1272.00 look for further downside with 1269.50 & 1267.50 as targets.

Comment
The RSI lacks downward momentum.

Silver spot ($)

Intraday support around 14.3700.

Pivot (invalidation): 14.3700

Our preference
Long positions above 14.3700 with targets at 14.5000 & 14.5600 in extension.

Alternative scenario
Below 14.3700 look for further downside with 14.3300 & 14.2800 as targets.

Comment
A support base at 14.3700 has formed and has allowed for a temporary stabilisation.

Crude Oil (WTI)

The downside prevails.

Pivot (invalidation): 61.70

Our preference
Short positions below 61.70 with targets at 60.80 & 60.15 in extension.

Alternative scenario
Above 61.70 look for further upside with 62.05 & 62.75 as targets.

Comment
The RSI advocates for further decline.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

EUR/USD bounces off lows, back to 1.1860

EUR/USD now manages to regain some balance, retesting the 1.1860-1.1870 band after bottoming out near 1.1830 following the US NFP data on Wednesday. The pair, in the meantime, remains on the defensive amid fresh upside traction surrounding the US Dollar.

GBP/USD rebounds to 1.3660, USD loses momentum

GBP/USD trades with decent gains in the 1.3660 region, regaining composure following the post-NFP knee-jerk toward the 1.3600 zone on Wednesday. Cable, in the meantime, should now shift its attention to key UK data due on Thursday, including preliminary GDP gauges.

Gold stays bid, still below $5,100

Gold keeps the bid tone well in place on Wednesday, retargeting the $5,100 zone per troy ounce on the back of humble gains in the US Dollar and firm US Treasury yields across the curve. Moving forward, the yellow metal’s next test will come from the release of US CPI figures on Friday.