FxPro: Daily Technical Analysis Before the European Opening on May 27, 2024

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

Friendly reminder: Due to market volatility, prices may have surpassed key levels, rendering the strategy invalid.

EUR/USD Intra-day: Short-term support around 1.0830.

Pivot point:

1.0830

Trading strategy:

Above 1.0830, bullish targets are 1.0860 and 1.0875.

Alternative strategy:

Below 1.0830, bearish targets are 1.0815 and 1.0800.

Technical commentary:

The RSI technical indicator lacks downward momentum.

Spot Gold Intra-day: Rising.

Pivot point:

2332.00

Trading strategy:

Above 2332.00, bullish targets are 2355.00 and 2370.00.

Alternative strategy:

Below 2332.00, bearish targets are 2325.00 and 2318.00.

Technical commentary:

Subsequent resistance levels are 2355.00 and 2370.00.

GBP/USD Intra-day: Bullish above 1.2710.

Pivot point:

1.2710

Trading strategy:

Above 1.2710, bullish targets are 1.2760 and 1.2780.

Alternative strategy:

Below 1.2710, bearish targets are 1.2695 and 1.2680.

Technical commentary:

The RSI technical indicator lacks downward momentum.

EUR/JPY Intra-day: Gradual decline, targeting 168.96 if 170.71 caps the upside.

Pivot point: 170.71

Trading strategy:

Gradual decline, targeting 168.96 if 170.71 caps the upside.

Alternative strategy:

A break above 170.71 will lead to further gains, targeting 171.36 and 171.75.

Technical commentary:

The RSI is below 50. The MACD is bullish but below its signal line. Additionally, the price is below its 20-day moving average (170.27) but above its 50-day moving average (170.05).

EUR/GBP Intra-day: Bearish below 0.8526.

Pivot point: 0.8526

Trading strategy:

Bearish below 0.8526.

Alternative strategy:

Above 0.8526, targets are 0.8537 and 0.8544.

Technical commentary:

The RSI is below the neutral zone of 50. The MACD is below its signal line and bearish. Additionally, the price is below its 20- and 50-day moving averages (0.8517 and 0.8518, respectively).

USD/CHF Intra-day: Key short-term resistance at 0.9160.

Pivot point:

0.9160

Trading strategy:

Below 0.9160, bearish targets are 0.9125 and 0.9110.

Alternative strategy:

Above 0.9160, bullish targets are 0.9175 and 0.9190.

Technical commentary:

As long as the resistance at 0.9160 persists, there is a bearish trend in price movements.

German DAX Index Futures (Eurex)‎ (M4)‎ Intra-day: No significant trend.

Pivot point:

18785.00

Trading strategy:

Below 18785.00, bearish targets are 18690.00 and 18639.00.

Alternative strategy:

Above 18785.00, bullish targets are 18833.00 and 18887.00.

Technical commentary:

As long as the resistance at 18785.00 persists, there is a bearish trend in price movements.

Brent Crude Oil (ICE)‎ (Q4)‎ Intra-day: Uptrend.

Pivot point:

81.45

Trading strategy:

Above 81.45, bullish targets are 82.30 and 82.70.

Alternative strategy:

Below 81.45, bearish targets are 81.00 and 80.70.

Technical commentary:

RSI is bullish with room for further gains.

UK FTSE 100 Index Futures Intra-day: Key short-term resistance at 8365.00.

Pivot point:

8365.00

Trading strategy:

Below 8365.00, bearish targets are 8300.00 and 8260.00.

Alternative strategy:

Above 8365.00, bullish targets are 8400.00 and 8427.00.

Technical commentary:

RSI is near the neutral zone of 50%.

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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