Spot Gold bounces but downside to remain at risk while daily Kijun-sen caps

Slobodan Drvenica Windsor Brokers

GOLD

Spot Gold emerged above daily cloud and bounced to $1254 barrier (daily Kijun-sen) after Thursday's $20 pullback from fresh over two weeks high at $1265 was contained at $1245. The support is formed by broken Fibo 38.2% of $1295/$1214 and converged 200/20 and 30 SMA's. Break and close above Kijun-sen pivot would re-attract Thursday's high at $1265. Otherwise, $1245 support is expected to remain vulnerable, as bearish signals are generated on reversal of slow stochastic and double bear-cross (20/200SMA and 20/30 SMA). Sustained break below $1245 pivot would risk attack at $1240 (daily cloud base/Tenkan-sen) and $1233 (Fibo 61.8% of $1214/$1265 rally) in extension.

Res: 1254; 1261; 1265; 1270
Sup: 1249; 1245; 1240; 1233

Interested in Gold technicals? Check out the key levels

1. R3 1279.55
2. R2 1272.28
3. R1 1259.64
PP 1252.37
1. S1 1239.73
2. S2 1232.46
3. S3 1219.82

Author

Slobodan Drvenica

Windsor Brokers

Industry veteran with over 22 years’ experience, Slobodan Drvenica joined Windsor Brokers in 1995 when he was an active trader for more than 10 years, managing the trading desk and own account departments.

EUR/USD clings to gains around 1.1800

EUR/USD manages to regain composure and retests the 1.1800 region in quite a positive start to the week. The pair’s bounce follows the US Dollar’s offered stance post-SCOTUS ruling ahead of important US data and Fedspeak on Tuesday.

GBP/USD looks stuck around 1.3500 amid firm gains

GBP/USD is pushing further north on Monday, revisiting the 1.3500 hurdle and beyond. Cable’s uptick is largely being fuelled by the broader softness in the Greenback, amid lingering uncertainty around tariffs.

Gold pops above $5,200, four-week highs

Gold is holding onto its bullish tone on Monday, reaching new multi-week highs just past the $5,200 mark per troy ounce. Fresh trade-war concerns, coupled with rising geopolitical tensions in the Middle East, are keeping demand for the yellow metal well on the rise.

Ethereum Price Forecast: BitMine's holdings reach 4.42 million ETH as Fundstrat predicts 87% win-ratio

Ethereum (ETH) treasury firm BitMine Immersion Technologies (BMNR) scooped up 51,162 ETH last week, marking its largest purchase since December.

Supreme Court nixes tariffs, Trump teases 15% global tariff

On February 20th, the Supreme Court ruled that Trump’s global tariffs under IEEPA authority were unconstitutional, effectively nullifying the framework. However, the relief was short-lived. Within hours, Trump floated a 15% blanket tariff under an alternative legal authority.

XRP recovers slightly as bearish sentiment dominates crypto market

Ripple is rising above $1.40 at the time of writing on Monday amid fresh tariff-triggered headwinds in the broader cryptocurrency market. The sell-off to $1.33, the token’s intraday low, can be attributed to macroeconomic uncertainty, geopolitical tensions and risk-averse sentiment among other factors.