S&P500 technical analysis: Wall Street in green as Google-Huwaei tensions de-escalate a notch

The U.S. Commerce Department announced a 90-day license for mobile phone companies and internet providers to work with Huawei to keep the existing networks online and to protect current users from security risks.
Google can send software updates to Huawei phones with Android operating system until August 19.

Flavio Tosti Independent Analyst

S&P500 daily chart

The S&P500 Index is trading in a bull trend above its 100 and 200-period simple moving averages (SMAs). The index is up as investors as the tensions between Google and Huawei are slightly easing.

S&P500 4-hour chart

The market is consolidating above the 50 SMA.

S&P500 30-minute chart

The level to beat for bulls is 2,870.00 resistance. If the market can break above it then 2,890.00 can be on the cards on Wednesday. On the flip side, if the buyers fail in their attempt, bears can step back in and drive the market towards 2,845.00 and potentially to the 2,835.00 level.

Additional key levels

SP 500

Overview
Today last price	2863.75
Today Daily Change	17.00
Today Daily Change %	0.60
Today daily open	2846.75

Trends
Daily SMA20	2893.31
Daily SMA50	2877.06
Daily SMA100	2799.74
Daily SMA200	2769.5

Levels
Previous Daily High	2874.75
Previous Daily Low	2831.75
Previous Weekly High	2892.25
Previous Weekly Low	2801.75
Previous Monthly High	2954.75
Previous Monthly Low	2850.25
Daily Fibonacci 38.2%	2848.18
Daily Fibonacci 61.8%	2858.32
Daily Pivot Point S1	2827.42
Daily Pivot Point S2	2808.08
Daily Pivot Point S3	2784.42
Daily Pivot Point R1	2870.42
Daily Pivot Point R2	2894.08
Daily Pivot Point R3	2913.42

Author

Flavio Tosti

Independent Analyst

EUR/USD gains traction to near 1.1800 as tariff uncertainty weighs on US Dollar

The EUR/USD pair holds positive ground around 1.1795 during the early Asian session on Tuesday. The US Dollar weakens against the Euro amid US tariff uncertainty. The release of the US January Producer Price Index report will be in the spotlight later on Friday.

GBP/USD treads water near 1.3500 as BoE-Fed divergence debate stalls

GBP/USD spent Monday spinning in place as market participants await a fresh catalyst to break the pair out of its recent range. The BoE's February hold came with a surprisingly dovish 5-4 split, and UK Consumer Price Index data last week showed inflation easing to 3.0%, reinforcing the case for earlier rate cuts, with most economists now looking to April or March for the next move.

Gold down but not out as key $5,140 support holds

Gold consolidates the advance to monthly top of $5,250 in Tuesday’s Asian trades. The US Dollar finds demand as liquidity returns and risk sentiment recovers, despite US tariffs uncertainty. Gold defends 61.8% Fibo resistance at $5,142 amid the pullback, daily RSI remains bullish.

Top Crypto Losers: BCH, HYPE, PUMP extend losses as Bitcoin drops below $64,000

Altcoins, including Bitcoin Cash, Hyperliquid, and Pump.fun, are leading losses over the last 24 hours as Bitcoin falls below $64,000 on Tuesday. The technical outlook for BCH, HYPE, and PUMP flags downside risk amid broader market selling.

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.