Silver spot Intraday: Supported by a rising trend line

Swissquote Bank Research Team Swissquote Bank Ltd

Gold spot ($)

The bias remains bullish.

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

Pivot (invalidation): 1324.00

Our preference
Long positions above 1324.00 with targets at 1334.00 & 1344.00 in extension.

Alternative scenario
Below 1324.00 look for further downside with 1320.00 & 1315.00 as targets.

Comment
The RSI is above its neutrality area at 50%.

Silver spot ($)

Supported by a rising trend line.

Pivot (invalidation): 14.7000

Our preference
Long positions above 14.7000 with targets at 14.9200 & 15.0000 in extension.

Alternative scenario
Below 14.7000 look for further downside with 14.6400 & 14.5600 as targets.

Comment
The RSI calls for a bounce.

Crude Oil (WTI)

Key resistance at 52.50.

Pivot (invalidation): 52.50

Our preference
Short positions below 52.50 with targets at 51.25 & 50.60 in extension.

Alternative scenario
Above 52.50 look for further upside with 53.00 & 53.40 as targets.

Comment
The RSI is below its neutrality area at 50%

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

EUR/USD extends its optimism past 1.1900

EUR/USD retains a firm underlying bid, surpassing the 1.1900 mark as the NA session draws to a close on Monday. The pair’s persistent uptrend comes as the US Dollar remains on the defensive, with traders staying cautious ahead of upcoming US NFP prints and CPI data.

GBP/USD hits three-day peaks, targets 1.3700

GBP/USD is clocking decent gains at the start of the week, advancing to three-day highs near 1.3670 and building on Friday’s solid performance. The better tone in the British Pound comes on the back of the intense sekk-off in the Greenback and despite re-emerging signs of a fresh government crisis in the UK.

Gold picks up pace, retargets $5,100

Gold gathers fresh steam, challenging daily highs en route to the $5,100 mark per troy ounce in the latter part of Monday’s session. The precious metal finds support from fresh signs of continued buying by the PBoC, while expectations that the Fed could lean more dovish also collaborate with the uptick.

XRP struggles around $1.40 despite institutional inflows

Ripple (XRP) is extending its intraday decline to around $1.40 at the time of writing on Monday amid growing pressure from the retail market and risk-off sentiment that continues to keep investors on the sidelines.

Japanese PM Takaichi nabs unprecedented victory – US data eyed this week

I do not think I would be exaggerating to say that Japanese Prime Minister Sanae Takaichi’s snap general election gamble paid off over the weekend – and then some. This secured the Liberal Democratic Party (LDP) an unprecedented mandate just three months into her tenure.