Explore the market insights from the Global Research Department of the Trading Center today. 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 (ICE) UK FTSE 100 Index Futures
Reminder: Due to market fluctuations, prices may have crossed key levels, rendering the strategy ineffective.
Spot Gold Within the day: Bullish above 2374.00.
Pivot Point:
2374.00
Trading Strategy:
Bullish above 2374.00, targeting 2398.00, then 2409.00.
Alternative Strategy:
Bearish below 2374.00, targeting 2362.00, then 2352.00.
Technical Commentary:
Subsequent resistance levels are 2398.00, then 2409.00.
GBP/USD Within the day: Dragged down by the downtrend line.
Pivot Point:
1.2470
Trading Strategy:
Bearish below 1.2470, targeting 1.2400, then 1.2375.
Alternative Strategy:
Bullish above 1.2470, targeting 1.2495, then 1.2520.
Technical Commentary:
As long as the resistance at 1.2470 persists, there is a bearish trend in price fluctuations.
EUR/USD Within the day: Short-term critical resistance at 1.0650.
Pivot Point:
1.0650
Trading Strategy:
Bearish below 1.0650, targeting 1.0600, then 1.0585.
Alternative Strategy:
Bullish above 1.0650, targeting 1.0665, then 1.0680.
Technical Commentary:
As long as the resistance at 1.0650 persists, there is a bearish trend in price fluctuations.
EUR/JPY Within the day: Bearish, with 164.67 as resistance.
Pivot Point: 164.67
Trading Strategy:
Bearish, with 164.67 as resistance.
Alternative Strategy:
If it breaches 164.67, EUR/JPY targets 165.13 and 165.41.
Technical Commentary:
The RSI is below the neutral 50 zone. The MACD is below its signal line indicating bullishness. Moreover, the price is below its 20 and 50-day moving averages (positioned at 164.30 and 164.24, respectively).
EUR/GBP Within the day: Bullish, with 0.8539 as the support point.
Pivot Point:
0.8539
Trading Strategy:
Bullish, with 0.8539 as support.
Alternative Strategy:
A break below 0.8539 would indicate a continuation of the downtrend, with targets at 0.8529 and then 0.8523.
Technical Commentary:
The RSI is above 50. The MACD is bullish and above its signal line. Moreover, the price is above its 20 and 50-day moving averages (currently at 0.8546 and 0.8542, respectively).
USD/CHF Within the day: Under pressure.
Pivot Point:
0.9140
Trading Strategy:
Bearish below 0.9140, targeting 0.9110, then 0.9095.
Alternative Strategy:
Bullish above 0.9140, targeting 0.9155, then 0.9170.
Technical Commentary:
A drop below 0.9110 will lead to a decline to 0.9095.
German DAX Index Futures (Eurex) Within the day: On a downtrend.
Pivot Point:
18170.00
Trading Strategy:
Bearish below 18170.00, targeting 17920.00, then 17830.00.
Alternative Strategy:
Bullish above 18170.00, targeting 18260.00, then 18400.00.
Technical Commentary:
The RSI is bearish, indicating a further downward trend.
Brent Crude (ICE) Within the day: Targeting 88.40.
Pivot Point:
90.25
Trading Strategy:
Bearish below 90.25, targeting 88.90, then 88.40.
Alternative Strategy:
Bullish above 90.25, targeting 90.80, then 91.30.
Technical Commentary:
The RSI shows a new downward trend.
UK FTSE 100 Index Futures Within the day: On a downtrend.
Pivot Point:
7942.00
Trading Strategy:
Bearish below 7942.00, targeting 7836.00, then 7795.00.
Alternative Strategy:
Bullish above 7942.00, targeting 7982.00, then 8019.00.
Technical Commentary:
The RSI is bearish, indicating further room for a decline.
