Gold Spot ($) Intraday: Break of a ST rising trendline support

Swissquote Bank Research Team Swissquote Bank Ltd

Gold spot ($)

Break of a ST rising trendline support.

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

Pivot (invalidation): 1308.50

Our preference
Short positions below 1308.50 with targets at 1303.50 & 1300.50 in extension.

Alternative scenario
Above 1308.50 look for further upside with 1311.50 & 1315.00 as targets.

Comment
The RSI is bearish and calls for further downside.

Silver spot ($)

Watch 15.2800.

Pivot (invalidation): 15.4900

Our preference
Short positions below 15.4900 with targets at 15.3400 & 15.2800 in extension.

Alternative scenario
Above 15.4900 look for further upside with 15.5400 & 15.6200 as targets.

Comment
The RSI lacks downward momentum.

Crude Oil (WTI)

Further advance.

Pivot (invalidation): 57.50

Our preference
Long positions above 57.50 with targets at 58.70 & 59.40 in extension.

Alternative scenario
Below 57.50 look for further downside with 57.05 & 56.75 as targets.

Comment
The RSI is bullish and calls for further advance.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

EUR/USD remains depressed below mid-1.1800s; downside potential seems limited

The EUR/USD pair attracts some sellers for the second consecutive day on Tuesday and hovers below mid-1.1800s amid a relatively quiet trading action during the Asian session. The broader fundamental backdrop, however, warrants some caution for bearish traders before positioning for deeper losses.

When is the UK employment data and how could it affect GBP/USD?

The United Kingdom labor market data for the three months ending December is scheduled to be published today at 07:00 GMT. GBP/USD trades 0.16% lower to near 1.3610 at the press time. The 20-period Exponential Moving Average slips to 1.3631 and caps rebounds as price holds below the gauge.

Gold downside appears capped ahead of US-Iran talks

Gold is off the lows but remains under moderate selling pressure below the $5,000 threshold early Tuesday. Gold now looks to the US-Iran nuclear deal talks for a fresh trading impetus as US traders return after the long weekend.

Jupiter rises on native SOL staking, TVL rebound

Jupiter edges higher by 3% at press time on Tuesday, approaching the $0.1700 level. The lending protocol announced native staking as collateral, allowing users to borrow against natively staked SOL on certain vaults.

The week ahead: Key inflation readings and why the AI trade could be overdone

It is likely to be a quiet start to the week, with US markets closed on Monday for Presidents Day. European markets are higher across the board and gold is clinging to the $5,000 level after the tamer than expected CPI report in the US reduced haven flows to precious metals.

XRP steadies in narrow range as fund inflows, futures interest rise

Ripple is trading in a narrow range between $1.45 (immediate support) and $1.50 (resistance) at the time of writing on Monday. The remittance token extended its recovery last week, peaking at $1.67 on Sunday from the weekly open at $1.43.