FxPro: Daily Technical Analysis before the European Market Opens on April 11, 2024

Explore new trading methods and opportunities from popular trading products as you review the market perspective from the Global Research Department at the Trade Center today.

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

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

EUR/USD Today: Under pressure.

Pivot point:

1.0790

Trading strategy:

Below 1.0790, bearish with target prices at 1.0710, followed by 1.0680.

Alternative strategy:

Above 1.0790, bullish with target prices at 1.0820, followed by 1.0845.

Technical commentary:

As long as the resistance level of 1.0790 is not breached, the risk of falling below 1.0710 is heightened.

Spot Gold Today: Short-term key resistance level at 2348.00.

Pivot point:

2348.00

Trading strategy:

Below 2348.00, bearish with target prices at 2333.00, followed by 2326.00.

Alternative strategy:

Above 2348.00, bullish with target prices at 2355.00, followed by 2364.00.

Technical commentary:

The upward space may be limited by the resistance level at 2348.00.

GBP/USD Today: Short-term key resistance level at 1.2580.

Pivot point:

1.2580

Trading strategy:

Below 1.2580, bearish with target prices at 1.2510, followed by 1.2480.

Alternative strategy:

Above 1.2580, bullish with target prices at 1.2610, followed by 1.2640.

Technical commentary:

As long as the resistance level of 1.2580 is not breached, the risk of falling below 1.2510 is heightened.

EUR/JPY Today: Potential for rise, with a target price at 165.20.

Pivot point set at:

163.91

Trading strategy:

Potential for rise, with a target price at 165.20.

Alternative strategy:

If it falls below 163.91, EUR/JPY target direction is set at 163.44 and 163.16.

Technical commentary:

The RSI technical indicator is below the neutral 50. The MACD technical indicator is above its signal line, indicating bearish sentiment. Additionally, the price is below its 50-day moving average (164.47) but above the 20-day moving average (164.29).

EUR/GBP Today: Gradual decline, with 0.8546 as the target when 0.8573 obstructs upward movement.

Pivot point at:

0.8573

Trading strategy:

Gradual decline, with 0.8546 as the target when 0.8573 obstructs upward movement.

Alternative strategy:

A breakout above 0.8573 will lead to a continuing upward trend, with target prices set at 0.8583 and 0.8588.

Technical commentary:

The RSI technical indicator is below 50. The MACD technical indicator is bullish and below its signal line. Additionally, the price is below its 20-day moving average (0.8567) but above its 50-day moving average (0.8562). Lastly, the price has fallen below the lower band of its Bollinger Bands (located at 0.8564).

USD/CHF Today: Upward trend.

Pivot point:

0.9105

Trading strategy:

Above 0.9105, bullish with target prices at 0.9150, followed by 0.9175.

Alternative strategy:

Below 0.9105, bearish with target prices set at 0.9085, followed by 0.9065.

Technical commentary:

Technically, the RSI technical indicator is above the 50% neutral area.

Germany DAX Index Futures (Eurex)‎ (M4)‎ Today: Limited upside.

Pivot point:

18280.00

Trading strategy:

Above 18280.00, bullish with target prices at 18475.00, followed by 18580.00.

Alternative strategy:

Below 18280.00, bearish with target prices set at 18185.00, followed by 18110.00.

Technical commentary:

A support base around 18280.00 could bring short-term stability to the trend.

Brent Crude (ICE)‎ (M4)‎ Today: Upward trend.

Pivot point:

90.00

Trading strategy:

Above 90.00, bullish with target prices at 91.10, followed by 91.90.

Alternative strategy:

Below 90.00, bearish with target prices set at 89.50, followed by 89.10.

Technical commentary:

The RSI technical indicator shows a continuing upward trend.

UK FTSE 100 Index Futures Today: Bullish.

Pivot point:

7940.00

Trading strategy:

Above 7940.00, bullish with target prices at 8009.00, followed by 8034.00.

Alternative strategy:

Below 7940.00, bearish with target prices set at 7905.00, followed by 7873.00.

Technical commentary:

The RSI technical indicator has a complex running trend.