FxPro Forex: Daily Technical Analysis before the European Market Opens on May 1, 2024

Check out today's market insights from the Global Research Department of the Trading Center. Explore new trading methods and opportunities from popular trading products.

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

Warm Reminder: Due to market fluctuations, prices may have crossed key points, rendering strategies ineffective.

Gold Spot Today: Downtrend.

Pivot Point:

2300.00

Trading Strategy:

Below 2300.00, bearish, target prices at 2275.00, then 2265.00.

Alternative Strategy:

Above 2300.00, bullish, target prices at 2309.00, then 2320.00.

Technical Commentary:

RSI indicator trending downward.

GBP/USD Today: Downtrend.

Pivot Point:

1.2515

Trading Strategy:

Below 1.2515, bearish, target prices at 1.2445, then 1.2420.

Alternative Strategy:

Above 1.2515, bullish, target prices at 1.2540, then 1.2565.

Technical Commentary:

RSI indicator trending downward.

EUR/USD Today: Downtrend.

Pivot Point:

1.0685

Trading Strategy:

Below 1.0685, bearish, target prices at 1.0635, then 1.0625.

Alternative Strategy:

Above 1.0685, bullish, target prices at 1.0715, then 1.0735.

Technical Commentary:

RSI indicator has breached below its 30 level.

EUR/JPY Today: Bullish, with 167.90 as the support level, target set at 169.02.

167.90 as the Pivot Point.

Trading Strategy:

Bullish, with 167.90 as the support level, target set at 169.02.

Alternative Strategy:

A break below 167.90, will lead to a continuing downward trend, target prices at 167.48 then 167.22.

Technical Commentary:

RSI indicator is above the neutral zone of 50. MACD indicator is below its signal line but bullish. Additionally, price is below its 20-day moving average (168.25) but above its 50-day moving average (168.15).

EUR/GBP Today: A rebound to around 0.8550 before further decline.

0.8550 as the Pivot Point.

Trading Strategy:

A rebound to around 0.8550 before further decline.

Alternative Strategy:

A breakout above 0.8550, will lead to a continuing upward trend, target prices at 0.8561 and 0.8567.

Technical Commentary:

RSI indicator is above the neutral zone of 50. MACD indicator is bullish and above its signal line. Additionally, price is below its 50-day moving average (0.8541) but above its 20-day moving average (0.8540).

USD/CHF Today: A new round of upward movement.

Pivot Point:

0.9175

Trading Strategy:

Above 0.9175, bullish, target prices at 0.9230, then 0.9250.

Alternative Strategy:

Below 0.9175, bearish, target prices at 0.9160, then 0.9140.

Technical Commentary:

RSI indicator shows a further upward trend.

Germany DAX Index Futures (Eurex) (M4) Today: Short-term adjustment.

Pivot Point:

18280.00

Trading Strategy:

Below 18280.00, bearish, target prices at 18155.00, then 18120.00.

Alternative Strategy:

Above 18280.00, bullish, target prices at 18340.00, then 18380.00.

Technical Commentary:

RSI indicator is below the 50% neutral zone.

Brent Crude (ICE) (N4) Today: Downtrend.

Pivot Point:

86.55

Trading Strategy:

Below 86.55, bearish, target prices at 85.10, then 84.50.

Alternative Strategy:

Above 86.55, bullish, target prices at 87.20, then 87.65.

Technical Commentary:

RSI indicator shows a new downward trend.

UK FTSE 100 Index Futures Today: Short-term (intraday) support near 8147.00.

Pivot Point:

8147.00

Trading Strategy:

Above 8147.00, bullish, target prices at 8210.00, then 8231.00.

Alternative Strategy:

Below 8147.00, bearish, target prices at 8121.00, then 8094.00.

Technical Commentary:

RSI indicator shows a complex trend with an inclination towards rising.