FxPro: Daily Technical Analysis before the European Market Opens on April 9, 2024.

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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

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

Spot Gold intra-day: Bullish trend.

Pivot point:

2335.00

Trading strategy:

Above 2335.00, bullish, with target prices at 2354.00, then 2364.00.

Alternative strategy:

Below 2335.00, bearish, with target prices at 2326.00, then 2319.00.

Technical commentary:

RSI indicator is bullish, with room for further upside.

GBP/USD intra-day: Bullish.

Pivot point:

1.2635

Trading strategy:

Above 1.2635, bullish, with target prices at 1.2670, then 1.2685.

Alternative strategy:

Below 1.2635, bearish, with target prices at 1.2615, then 1.2595.

Technical commentary:

RSI indicator is trending upwards.

EUR/USD intra-day: Bullish above 1.0840.

Pivot point:

1.0840

Trading strategy:

Above 1.0840, bullish, with target prices at 1.0875, then 1.0890.

Alternative strategy:

Below 1.0840, bearish, with target prices at 1.0820, then 1.0800.

Technical commentary:

Even though we can't rule out the possibility of ongoing adjustments, they are expected to be short-lived.

EUR/JPY intra-day: Bullish, with 164.49 as support, targeting 165.73.

164.49 as pivot point.

Trading strategy:

Bullish, with 164.49 as support, targeting 165.73.

Alternative strategy:

If falling below 164.49, EUR/JPY's target direction is set at 164.01 and 163.73.

Technical commentary:

RSI indicator is above the neutral zone of 50. MACD indicator is below its signal line, bullish. Additionally, the price is below its 20-day moving average (164.86) but above its 50-day moving average (164.67).

EUR/GBP intra-day: Bearish, with 0.8586 as resistance.

Pivot point:

0.8586

Trading strategy:

Bearish, when 0.8586 acts as resistance.

Alternative strategy:

If breaking through 0.8586, EUR/GBP's target direction is 0.8596 and 0.8601.

Technical commentary:

RSI indicator is below 50. MACD indicator is below its signal line, bullish. Moreover, the price is below its 20-day and 50-day moving averages (currently at 0.8579 and 0.8578).

USD/CHF intra-day: Bullish above 0.9035.

Pivot point:

0.9035

Trading strategy:

Above 0.9035, bullish, with target prices at 0.9060, then 0.9075.

Alternative strategy:

Below 0.9035, bearish, with target prices at 0.9020, then 0.9005.

Technical commentary:

A support base has formed near 0.9035, bringing stability to the trend in the short term.

German DAX Index Futures (Eurex) intra-day: Short-term key resistance at 18680.00.

Pivot point:

18680.00

Trading strategy:

Below 18680.00, bearish, with target prices at 18410.00, then 18310.00.

Alternative strategy:

Above 18680.00, bullish, with target prices at 18770.00, then 18840.00.

Technical commentary:

As long as the resistance at 18680.00 persists, there's a bearish trend in price variability.

Brent Crude (ICE) intra-day: Bullish.

Pivot point:

89.90

Trading strategy:

Above 89.90, bullish, with target prices at 91.10, then 91.90.

Alternative strategy:

Below 89.90, bearish, with target prices at 89.45, then 88.80.

Technical commentary:

RSI indicator shows an upward trend.

UK FTSE 100 Index Futures intra-day: Bullish above 7899.00.

Pivot point:

7899.00

Trading strategy:

Above 7899.00, bullish, with target prices at 7944.00, then 7965.00.

Alternative strategy:

Below 7899.00, bearish, with target prices at 7866.00, then 7842.00.

Technical commentary:

RSI indicator trends are complex, tending to rise.

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.