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FxPro : Daily Technical Analysis before the European Market Opens on April 24, 2024

FxPro
FxPro
04-24

FxPro : Daily Technical Analysis before European Market Open on April 24, 2024

FxPro Analysis: April 24, 2024, European Market Outlook Before Opening

Explore new trading methods and opportunities from popular trading products in the global research department's market outlook today.

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

Friendly Reminder: Due to market volatility, prices may have passed key points, rendering strategies ineffective.

Spot Gold Today: Bullish.

Pivot Point:

2315.00

Trading Strategy:

Above 2315.00, bullish, with target prices at 2332.00 and then 2343.00.

Alternative Strategy:

Below 2315.00, bearish, with target prices at 2305.00 and then 2291.00.

Technical Commentary:

The RSI indicator shows a continuing upward trend.

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GBP/USD Today: Upward trend.

Pivot Point:

1.2420

Trading Strategy:

Above 1.2420, bullish, with target prices at 1.2480 and then 1.2510.

Alternative Strategy:

Below 1.2420, bearish, with target prices at 1.2390 and then 1.2360.

Technical Commentary:

The RSI indicator trend is complex, tending to rise.

9333c51102e042e8989c857b9754f672550

EUR/USD Today: Upward trend.

Pivot Point:

1.0680

Trading Strategy:

Above 1.0680, bullish, with target prices at 1.0730 and then 1.0745.

Alternative Strategy:

Below 1.0680, bearish, with target prices at 1.0650 and then 1.0635.

Technical Commentary:

The RSI indicator trend is complex, tending to rise.

9333c51102e042e8989c857b9754f672725

EUR/JPY Today: Bullish, with support at 165.42 and target at 166.55.

Pivot point at 165.42.

Trading Strategy:

Bullish, with support at 165.42 and target at 166.55.

Alternative Strategy:

If falling below 165.42, target directions set at 165 and 164.75.

Technical Commentary:

The RSI is above the neutral zone of 50. MACD is below its signal line but bullish. Moreover, prices are above their 20-day and 50-day moving averages (currently at 165.71 and 165.44).

9333c51102e042e8989c857b9754f672977

EUR/GBP Today: Possible rise, target price set at 0.8616.

Pivot point at 0.8586.

Trading Strategy:

Possible rise, target price set at 0.8616.

Alternative Strategy:

If breaking below 0.8586, a continuing downward trend is expected, with targets at 0.8575 and then 0.8568.

Technical Commentary:

RSI is below the neutral zone of 50. MACD is above its signal line, indicating bearishness. Additionally, the price is below its 50-day moving average (0.8607) but above the 20-day moving average (0.8595).

9333c51102e042e8989c857b9754f6721229

USD/CHF Today: Bullish above 0.9100.

Pivot Point:

0.9100

Trading Strategy:

Above 0.9100, bullish, with target prices at 0.9130 and then 0.9150.

Alternative Strategy:

Below 0.9100, bearish, with target prices at 0.9085 and then 0.9070.

Technical Commentary:

The RSI indicator is on an upward trend.

9333c51102e042e8989c857b9754f6721404

German DAX Index Futures (Eurex) (M4): Upward trend.

Pivot Point:

17965.00

Trading Strategy:

Above 17965.00, bullish, with target prices at 18250.00 and then 18370.00.

Alternative Strategy:

Below 17965.00, bearish, with target prices at 17870.00 and then 17770.00.

Technical Commentary:

Even though a continuation of the adjustment is not excluded, it should be limited in time.

9333c51102e042e8989c857b9754f6721624

Brent Crude (ICE) (M4): Further increase.

Pivot Point:

87.50

Trading Strategy:

Above 87.50, bullish, with target prices at 89.50 and then 90.30.

Alternative Strategy:

Below 87.50, bearish, with target prices at 86.90 and then 86.10.

Technical Commentary:

The RSI indicator is bullish, with room for further rise.

9333c51102e042e8989c857b9754f6721802

UK FTSE 100 Index Futures Today: Bullish above 7965.00.

Pivot Point:

7965.00

Trading Strategy:

Above 7965.00, bullish, with target prices at 8135.00 and then 8205.00.

Alternative Strategy:

Below 7965.00, bearish, with target prices at 7907.00 and then 7841.00.

Technical Commentary:

Even though a continuation of the adjustment is not excluded, it should be limited in time.

9333c51102e042e8989c857b9754f6722004

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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