Swissquote Bank Research Team
Swissquote Bank Ltd
Gold Spot ($)
The upside prevails.
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Pivot (invalidation): 1514.50
Our preference
Long positions above 1514.50 with targets at 1527.50 & 1532.00 in extension.
Alternative scenario
Below 1514.50 look for further downside with 1510.00 & 1507.00 as targets.
Comment
The RSI shows upside momentum.
Silver Spot ($)
The upside prevails.
Pivot (invalidation): 17.9000
Our preference
Long positions above 17.9000 with targets at 18.2500 & 18.3700 in extension.
Alternative scenario
Below 17.9000 look for further downside with 17.8000 & 17.7200 as targets.
Comment
The RSI is bullish and calls for further advance.
Crude Oil (WTI)
Key resistance at 61.85.
Pivot (invalidation): 61.85
Our preference
Short positions below 61.85 with targets at 61.40 & 61.10 in extension.
Alternative scenario
Above 61.85 look for further upside with 62.05 & 62.35 as targets.
Comment
The RSI is mixed with a bearish bias.
This report has been prepared by Swissquote Bank Ltd and is solely been published for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any currency or any other financial instrument. Views expressed in this report may be subject to change without prior notice and may differ or be contrary to opinions expressed by Swissquote Bank Ltd personnel at any given time. Swissquote Bank Ltd is under no obligation to update or keep current the information herein, the report should not be regarded by recipients as a substitute for the exercise of their own judgment.
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AUD/USD: The hunt for the 0.7000 hurdle
AUD/USD quickly left behind Wednesday’s strong pullback and rose markedly past the 0.6900 barrier on Thursday, boosted by news of fresh stimulus in China as well as renewed weakness in the US Dollar.
EUR/USD refocuses its attention to 1.1200 and above
Rising appetite for the risk-associated assets, the offered stance in the Greenback and Chinese stimulus all contributed to the resurgence of the upside momentum in EUR/USD, which managed to retest the 1.1190 zone on Thursday.
Gold holding at higher ground at around $2,670
Gold breaks to new high of $2,673 on Thursday. Falling interest rates globally, intensifying geopolitical conflicts and heightened Fed easing bets are the main factors.
Bitcoin displays bullish signals amid supportive macroeconomic developments and growing institutional demand
Bitcoin (BTC) trades slightly up, around $64,000 on Thursday, following a rejection from the upper consolidation level of $64,700 the previous day. BTC’s price has been consolidating between $62,000 and $64,700 for the past week.
RBA widely expected to keep key interest rate unchanged amid persisting price pressures
The Reserve Bank of Australia is likely to continue bucking the trend adopted by major central banks of the dovish policy pivot, opting to maintain the policy for the seventh consecutive meeting on Tuesday.
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