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FxPro: Daily Technical Analysis before the European Market Opens on April 3, 2024.

FxPro
FxPro
04-03

FxPro: Daily Technical Analysis Before the European Market Opens on April 3, 2024

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

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

Kind reminder: Due to market fluctuations, prices may have crossed key levels, rendering strategies ineffective.

Spot Gold Intraday: Upward trend.

Pivot Point:

2258.00

Trading Strategy:

Above 2258.00, bullish with target prices at 2302.00, then 2320.00.

Alternative Strategy:

Below 2258.00, bearish with target prices at 2243.00, then 2228.00.

Technical Comment:

The RSI indicator shows a complex trend with a bias towards rising.

1

GBP/USD Intraday: A new rise.

Pivot Point:

1.2550

Trading Strategy:

Above 1.2550, bullish with target prices at 1.2600, then 1.2620.

Alternative Strategy:

Below 1.2550, bearish with target prices at 1.2535, then 1.2520.

Technical Comment:

The RSI indicator shows a further upward trend.

2

EUR/USD Intraday: Bullish.

Pivot Point:

1.0745

Trading Strategy:

Above 1.0745, bullish with target prices at 1.0800, then 1.0820.

Alternative Strategy:

Below 1.0745, bearish with target prices at 1.0725, then 1.0710.

Technical Comment:

The RSI indicator continues to show an upward trend.

3

EUR/JPY Intraday: Bullish, with 162.97 as the support level.

Pivot Point: 162.97.

Trading Strategy:

Bullish, with 162.97 as the support level.

Alternative Strategy:

A break below 162.97 could lead to a continued downward trend, with targets at 162.51 then 162.24.

Technical Comment:

The RSI indicator is above the neutral 50 zone. The MACD indicator is above its signal line, bullish. In addition, prices are above their 20-day and 50-day moving averages (currently at 163.25 and 163.11).

4

EUR/GBP Intraday: Bullish, with 0.8557 as the support level, targeting 0.8584.

Pivot Point set at:

0.8557

Trading Strategy:

Bullish, with 0.8557 as the support level, targeting 0.8584.

Alternative Strategy:

A break below 0.8557 could lead to a continued downward trend, with targets at 0.8547 then 0.8541.

Technical Comment:

The RSI indicator is above 50. The MACD indicator is bullish and below its signal line. Moreover, prices are above their 20-day and 50-day moving averages (at 0.8565 and 0.8560 respectively).

5

USD/CHF Intraday: Upward trend.

Pivot Point:

0.9065

Trading Strategy:

Above 0.9065, bullish with target prices at 0.9090, then 0.9100.

Alternative Strategy:

Below 0.9065, bearish with target prices at 0.9050, then 0.9035.

Technical Comment:

The RSI indicator shows a complex trend with a bias towards rising.

6

German DAX Index Futures (Eurex) (M4) Intraday: Key short-term resistance at 18800.00.

Pivot Point:

18800.00

Trading Strategy:

Below 18800.00, bearish with target prices at 18680.00, then 18615.00.

Alternative Strategy:

Above 18800.00, bullish with target prices at 18840.00, then 18880.00.

Technical Comment:

The RSI indicator is below the neutral 50% zone.

7

Brent Crude Oil (ICE) (M4) Intraday: Bullish above 88.45.

Pivot Point:

88.45

Trading Strategy:

Above 88.45, bullish with target prices at 90.00, then 90.60.

Alternative Strategy:

Below 88.45, bearish with target prices at 87.90, then 87.40.

Technical Comment:

The RSI indicator shows a complex trend with a bias towards rising.

8

UK FTSE 100 Index Futures Intraday: Bullish above 7973.00.

Pivot Point:

7973.00

Trading Strategy:

Above 7973.00, bullish with target prices at 8033.00, then 8055.00.

Alternative Strategy:

Below 7973.00, bearish with target prices at 7958.00, then 7945.00.

Technical Comment:

The RSI indicator shows a complex trend with a bias towards rising.

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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