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FxPro: Daily Technical Analysis Before the European Market Opens on April 12, 2024

FxPro
FxPro
04-12

FxPro: Daily Technical Analysis before the European Market Opens on April 12, 2024.

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

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

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

EUR/USD Today: Under pressure.

Pivot point:

1.0735

Trading strategy:

Below 1.0735, bearish with target levels at 1.0700, then 1.0680.

Alternative strategy:

Above 1.0735, bullish with target levels at 1.0755, then 1.0780.

Technical comment:

The RSI indicator shows a complex trend, tending towards a decline.

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Spot Gold Today: Bullish trend.

Pivot point:

2365.00

Trading strategy:

Above 2365.00, bullish with target levels at 2400.00, then 2410.00.

Alternative strategy:

Below 2365.00, bearish with target levels at 2350.00, then 2337.00.

Technical comment:

The RSI indicator shows a continuing upward trend.

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GBP/USD Today: Under pressure.

Pivot point:

1.2580

Trading strategy:

Below 1.2580, bearish with target levels at 1.2510, then 1.2480.

Alternative strategy:

Above 1.2580, bullish with target levels at 1.2610, then 1.2640.

Technical comment:

The RSI indicator shows a complex trend, tending towards a decline.

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EUR/JPY Today: Bearish below 164.63.

Pivot point set at:

164.63

Trading strategy:

Bearish, below 164.63.

Alternative strategy:

If it breaks through 164.63, EUR/JPY targets are 165.10 and 165.38.

Technical comment:

RSI below 50. MACD below its signal line indicating bearish trend. Additionally, the price is below its 20-day and 50-day moving averages (currently at 164.29 and 164.31 respectively).

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EUR/GBP Today: Potential rise, target at 0.8561.

Pivot point set at:

0.8533

Trading strategy:

Potential rise, target at 0.8561.

Alternative strategy:

Falling below 0.8533 could lead to continued downward trend, with targets at 0.8524 then 0.8518.

Technical comment:

RSI below 50. MACD is bearish and above its signal line. Moreover, the price is below its 20-day and 50-day moving averages (located at 0.8543 and 0.8551 respectively).

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USD/CHF Today: Adjustment.

Pivot point:

0.9125

Trading strategy:

Below 0.9125, bearish with target levels at 0.9075, then 0.9055.

Alternative strategy:

Above 0.9125, bullish with target levels at 0.9145, then 0.9165.

Technical comment:

The RSI indicator lacks upward momentum

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German DAX Index Futures (Eurex)‎ Today: Under pressure.

Pivot point:

18495.00

Trading strategy:

Below 18495.00, bearish with target levels at 18240.00, then 18130.00.

Alternative strategy:

Above 18495.00, bullish with target levels at 18590.00, then 18670.00.

Technical comment:

As long as the resistance at 18495.00 is not breached, the risk of a decline below 18240.00 is high.

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Brent Crude (ICE)‎ Today: No clear trend.

Pivot point:

90.60

Trading strategy:

Below 90.60, bearish with target levels at 89.70, then 89.40.

Alternative strategy:

Above 90.60, bullish with target levels at 91.00, then 91.40.

Technical comment:

As long as the resistance at 90.60 exists, the price fluctuation tends to be bearish.

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UK FTSE 100 Index Futures Today: Bullish trend.

Pivot point:

7940.00

Trading strategy:

Above 7940.00, bullish with target levels at 8002.00, then 8034.00.

Alternative strategy:

Below 7940.00, bearish with target levels at 7905.00, then 7873.00.

Technical comment:

The RSI indicator shows a complex trend, proceed with caution.

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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.

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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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