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FxPro: Analysis Before Europe Market Opens, Feb 27, 2024

FxPro
FxPro
02-27

FxPro: Daily Technical Analysis before the European Market Opens on February 27, 2024

Explore new trading methods and opportunities among popular trading products in today's market outlook from the Global Research Department of the Trading Center.

EUR/USD   GBP/USD   Spot Gold   EUR/JPY   EUR/GBP   USD/CHF   Germany DAX Index Futures (Eurex)   Brent Crude (ICE)   FTSE 100 Index Futures  

Friendly Reminder: Due to market fluctuations, prices may have moved past key points, rendering strategies ineffective.

Spot Gold Today: Rising.

  • Pivot Point:

2028.00

  • Trading Strategy:

Above 2028.00, bullish, with target prices at 2037.00 and then 2041.00.

  • Alternative Strategy:

Below 2028.00, bearish, with target prices set at 2025.00 and then 2021.00.

  • Technical Commentary:

RSI technical indicator is above the 50% neutral zone.

1

GBP/USD Today: Bullish above 1.2665.

  • Pivot Point:

1.2665

  • Trading Strategy:

Above 1.2665, bullish, with target prices at 1.2690 and then 1.2700.

  • Alternative Strategy:

Below 1.2665, bearish, with target prices set at 1.2655 and then 1.2645.

  • Technical Commentary:

A support base around 1.2665 brings short-term stability to the trend.

2

EUR/USD Today: Rising trend.

  • Pivot Point:

1.0835

  • Trading Strategy:

Above 1.0835, bullish, with target prices at 1.0860 and then 1.0875.

  • Alternative Strategy:

Below 1.0835, bearish, with target prices set at 1.0820 and then 1.0810.

  • Technical Commentary:

The trend of the RSI technical indicator is complex, leaning towards an upward movement.

3

EUR/JPY Today: Bearish below 163.67.

  • Pivot Point

163.67 as pivot point.

  • Trading Strategy:

Bearish, below 163.67.

  • Alternative Strategy:

If it breaks through 163.67, EUR/JPY targets direction are 164.15 and 164.43.

  • Technical Commentary :

RSI technical indicator is below 50. MACD technical indicator is in a bearish state and below its signal line. Moreover, the price is below its 20-day and 50-day moving averages (currently at 163.37 and 163.33).

4

EUR/GBP Today: Bullish, with 0.8546 as support, targeting 0.8576.

  • Pivot Point:

0.8546

  • Trading Strategy:

Bullish, with 0.8546 as support, targeting 0.8576.

  • Alternative Strategy:

If it falls below 0.8546, EUR/GBP target direction is set at 0.8535 and 0.8528.

  • Technical Commentary :

RSI technical indicator is greater than the neutral zone of 50. MACD technical indicator is in a bullish state and below its signal line. Additionally, the price is above its 20-day and 50-day moving averages (located at 0.8555 and 0.8553 respectively).

5

USD/CHF Today: Under pressure.

  • Pivot Point:

0.8820

  • Trading Strategy:

Below 0.8820, bearish, with target prices at 0.8780 and then 0.8765.

  • Alternative Strategy:

Above 0.8820, bullish, with target prices set at 0.8835 and then 0.8850.

  • Technical Commentary:

RSI technical indicator lacks upward momentum

6

Germany DAX Index Futures (Eurex)‎ (H4)‎ Today: Bullish above 17330.00.

  • Pivot Point:

17330.00

  • Trading Strategy:

Above 17330.00, bullish, with target prices at 17490.00 and then 17560.00.

  • Alternative Strategy:

Below 17330.00, bearish, with target prices set at 17260.00 and then 17200.00.

  • Technical Commentary:

Even though we cannot rule out a continuation of the adjustment, its duration should be limited.

7

Brent Crude (ICE)‎ (K4)‎ Today: Bullish above 81.30.

  • Pivot Point:

81.30

  • Trading Strategy:

Above 81.30, bullish, with target prices at 82.10 and then 82.50.

  • Alternative Strategy:

Below 81.30, bearish, with target prices set at 81.00 and then 80.65.

  • Technical Commentary:

RSI technical indicator just reached the 50% neutral zone, reversing upwards.

8

FTSE 100 Index Futures Today: No clear trend.

  • Pivot Point:

7634.00

  • Trading Strategy:

Above 7634.00, bullish, with target prices at 7699.00 and then 7719.00.

  • Alternative Strategy:

Below 7634.00, bearish, with target prices set at 7615.00 and then 7601.00.

  • Technical Commentary:

A support base around 7634.00 brings short-term stability to the trend.

9

Risk Warning and Disclaimer

The market carries risks, and investment should be cautious. This article does not constitute personal investment advice and has not taken into account individual users' specific investment goals, financial situations, or needs. Users should consider whether any opinions, viewpoints, or conclusions in this article are suitable for their particular circumstances. Investing based on this is at one's own responsibility.

The End

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Technical Analysis

Technical Analysis is a financial market analysis method that predicts future price trends by statistically and graphically analyzing historical data such as prices, trading volumes, and indicators.

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