FxPro: Daily Technical Analysis before the European Open, April 26, 2024

Check out today's market insights from the Global Research Department of the Trading Center. Explore new trading methods and TR Forex has been filedopportunities from popular trading products.

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

Kind Reminder: Due to market volatility, prices may have already moved past key points, rendering strategies ineffective.

Spot Gold Within the day: Bullish.

Pivot Point:

2319.00

Trading Strategy:

Above 2319.00, target levels at 2344.00, then 2355.00.

Alternative Strategy:

Below 2319.00, bearish with target levels at 2313.00, then 2305.00.

Technical Comment:

The RSI indicator shows a further upward trend.

GBP/USD Within the day: Ascending trend.

Pivot Point:

1.2475

Trading Strategy:

Above 1.2475, bullish, with a target at 1.2530, then 1.2555.

Alternative Strategy:

Below 1.2475, bearish, with target levels set at 1.2450, then 1.2420.

Technical Comment:

Even though a continued adjustment is not ruled out, it should be limited in time.

EUR/USD Within the day: Ascending trend.

Pivot Point:

1.0710

Trading Strategy:

Above 1.0710, bullish, target levels at 1.0740, then 1.0755.

Alternative Strategy:

Below 1.0710, bearish, target levels at 1.0695, then 1.0675.

Technical Comment:

The RSI indicator is trending upwards.

EUR/JPY Within the day: Bullish with 166.87 as the support level.

Pivot Point set at:

166.87

Trading Strategy:

Bullish with 166.87 as the support level.

Alternative Strategy:

If it falls below 166.87, target EUR/JPY direction at 166.44 and 166.19.

Technical Comment :

The RSI indicator is above the neutral zone of 50. The MACD indicator is bullish and above its signal line. Moreover, the price is above its 20-day and 50-day moving averages (currently at 166.96 and 166.84). Finally, the stock price is currently above the upper Bollinger band (positioned at 167.18).

EUR/GBP Within the day: Bullish with 0.8569 as the support level.

Pivot point at:

0.8569

Trading Strategy:

Bullish with 0.8569 as the support level.

Alternative Strategy:

If it falls below 0.8569, target EUR/GBP direction at 0.8558 and 0.8552.

Technical Comment :

The RSI indicator is above the neutral zone of 50. The MACD indicator is bullish and above its signal line. Moreover, the price is above its 20-day and 50-day moving averages (currently at 0.8576 and 0.8576).

USD/CHF Within the day: Short-term key resistance at 0.9140.

Pivot Point:

0.9140

Trading Strategy:

Below 0.9140, bearish, target levels at 0.9115, then 0.9100.

Alternative Strategy:

Above 0.9140, bullish, target levels at 0.9155, then 0.9170.

Technical Comment:

As long as the 0.9140 resistance level is not breached, the risk of falling below 0.9115 is high.

Germany DAX Index Futures (Eurex)‎ (M4)‎ Within the day: Adjustment.

Pivot Point:

18065.00

Trading Strategy:

Above 18065.00, bullish, target levels at 18300.00, then 18389.00.

Alternative Strategy:

Below 18065.00, bearish, target levels at 17965.00, then 17870.00.

Technical Comment:

The RSI indicator lacks downward momentum

Brent Crude (ICE)‎ (M4)‎ Within the day: Heading towards 90.70.

Pivot Point:

88.30

Trading Strategy:

Above 88.30, bullish, target levels at 89.80, then 90.70.

Alternative Strategy:

Below 88.30, bearish, target levels at 87.80, then 87.30.

Technical Comment:

The RSI indicator shows a continuing upward trend.

UK FTSE 100 Index Futures Within the day: Bullish.

Pivot Point:

8028.00

Trading Strategy:

Above 8028.00, bullish, target levels at 8135.00, then 8190.00.

Alternative Strategy:

Below 8028.00, bearish, target levels at 7985.00, then 7944.00.

Technical Comment:

The RSI indicator is bullish with a further upward trend.

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.