FxPro Forex: Daily Technical Analysis before the European Market Opens on April 23, 2024
Explore new trading methods and opportunities from popular trading products in today's market viewpoint by the global research department of the Trading Center.
EUR/USD Spot Gold GBP/USD EUR/JPY EUR/GBP USD/CHF Germany DAX Futures (Eurex) Brent Crude (ICE) UK FTSE 100 Futures
Kind Reminder: Due to market volatility, prices may have moved past key levels, making strategies ineffective.
Spot Gold Today: Downtrend.
Pivot Point:
2334.00
Trading Strategy:
Bearish below 2334.00, targeting 2285.00, followed by 2268.00.
Alternative Strategy:
Bullish above 2334.00, targeting 2350.00, followed by 2363.00.
Technical Comment:
RSI indicates a new downtrend.
GBP/USD Today: Uptrend.
Pivot Point:
1.2325
Trading Strategy:
Bullish above 1.2325, targeting 1.2370, followed by 1.2395.
Alternative Strategy:
Bearish below 1.2325, targeting 1.2300, followed by 1.2275.
Technical Comment:
RSI trend is complex with an upward inclination.
EUR/USD Today: Bullish.
Pivot Point:
1.0635
Trading Strategy:
Bullish above 1.0635, targeting 1.0670, followed by 1.0680.
Alternative Strategy:
Bearish below 1.0635, targeting 1.0620, followed by 1.0610.
Technical Comment:
RSI lacks downward momentum
EUR/JPY Today: Gradual decline, targeting 164.03 if 165.27 acts as resistance.
165.27 as the pivot point.
Trading Strategy:
Gradual decline, targeting 164.03 if 165.27 acts as resistance.
Alternative Strategy:
Bullish breakout above 165.27, targeting 165.73 and then 166.
Technical Comment:
RSI is below the neutral zone of 50. MACD is bullish and below its signal line. Moreover, the price is below its 20-day MA (164.91) but above its 50-day MA (164.86).
EUR/GBP Today: Bullish, with 0.8618 as the support level, targeting 0.8646.
0.8618 as the pivot point.
Trading Strategy:
Bullish, with 0.8618 as the support level, targeting 0.8646.
Alternative Strategy:
Bearish if breaking below 0.8618, targeting 0.8608 and then 0.8602.
Technical Comment:
RSI is above the neutral zone of 50. MACD is bullish and below its signal line. Moreover, the price is above its 20-day and 50-day MAs (currently at 0.8626 each).
USD/CHF Today: Bullish above 0.9100.
Pivot Point:
0.9100
Trading Strategy:
Bullish above 0.9100, targeting 0.9130, then 0.9150.
Alternative Strategy:
Bearish below 0.9100, targeting 0.9075, then 0.9055.
Technical Comment:
RSI is on an upward trend.
Germany DAX Futures (Eurex) (M4) Today: Bullish above 17865.00.
Pivot Point:
17865.00
Trading Strategy:
Bullish above 17865.00, targeting 18127.00, then 18219.00.
Alternative Strategy:
Bearish below 17865.00, targeting 17706.00, then 17605.00.
Technical Comment:
RSI trend is complex and requires cautious handling.
Brent Crude (ICE) (M4) Today: Bullish above 86.70.
Pivot Point:
86.70
Trading Strategy:
Bullish above 86.70, targeting 87.70, then 88.30.
Alternative Strategy:
Bearish below 86.70, targeting 86.20, then 85.80.
Technical Comment:
RSI is bullish.
UK FTSE 100 Futures Today: Upward Trend.
Pivot Point:
7918.00
Trading Strategy:
Bullish above 7918.00, targeting 8019.00, followed by 8067.00.
Alternative Strategy:
Bearish below 7918.00, targeting 7883.00, followed by 7841.00.
Technical Comment:
RSI is bullish with further upward potential.
