FxPro: Daily Technical Analysis Before the European Market Opens, March 19, 2024

Check out today's market perspectives from the Global Research Department at the Trading Center. Explore new trading methods and Why banks suspend individual foreign exchange purchases Sellopportunities from popular trading products.

Euro/US Dollar   British Pound/US Dollar   Spot Gold   Euro/Japanese Yen   Euro/British Pound   US Dollar/Swiss Franc   German DAX Index Futures (Eurex)   Brent Crude (ICE)   UK FTSE 100 Index Futures  

Kind reminder: Due to market volatility, prices may have crossed key points, making strategies ineffective.

Spot Gold Within the day: Bullish above 2153.00.

Pivot Point:

2153.00

Trading strategy:

Above 2153.00, bullish with target prices at 2166.00 and then 2172.00.

Alternative strategy:

Below 2153.00, bearish with target prices at 2146.00 and then 2140.00.

Technical comment:

Even though we cannot rule out the possibility of ongoing adjustments, they should be limited in duration.

British Pound/US Dollar Within the day: Downward trend.

Pivot Point:

1.2745

Trading strategy:

Below 1.2745, bearish with target prices at 1.2690 and then 1.2670.

Alternative strategy:

Above 1.2745, bullish with target prices at 1.2760 and then 1.2780.

Technical comment:

RSI indicator is moving downwards.

Euro/US Dollar Within the day: Under pressure.

Pivot Point:

1.0880

Trading strategy:

Below 1.0880, bearish with target prices at 1.0855 and then 1.0840.

Alternative strategy:

Above 1.0880, bullish with target prices at 1.0890 and then 1.0905.

Technical comment:

A break below 1.0855 would trigger a drop to 1.0840.

Euro/Japanese Yen Within the day: Bullish.

Pivot point: 161.91.

Trading strategy:

Bullish.

Alternative strategy:

A downward break of 161.91 would lead to a continuing decline, with target prices at 161.50 and then 161.25.

Technical comment:

RSI indicator is above 50. MACD indicator is bearish but above its signal line. Additionally, the price is below its 50-day moving average (162.32) but above its 20-day moving average (162.16).

Euro/British Pound Within the day: Bullish.

Pivot point: 0.8535.

Trading strategy:

Bullish.

Alternative strategy:

If it falls below 0.8535, the target direction for EUR/GBP is set at 0.8523 and then 0.8517.

Technical comment:

RSI indicator is above 50. MACD indicator is bearish but above its signal line. Additionally, the price is below its 50-day moving average (0.8548) but above its 20-day moving average (0.8543).

US Dollar/Swiss Franc Within the day: A new round of ascent.

Pivot Point:

0.8850

Trading strategy:

Above 0.8850, bullish with target prices at 0.8910 and then 0.8925.

Alternative strategy:

Below 0.8850, bearish with target prices at 0.8835 and then 0.8820.

Technical comment:

RSI indicator is moving upwards.

German DAX Index Futures (Eurex)‎ (M4)‎ Within the day: Short-term adjustment.

Pivot Point:

18315.00

Trading strategy:

Below 18315.00, bearish with target prices at 18210.00 and then 18150.00.

Alternative strategy:

Above 18315.00, bullish with target prices at 18370.00 and then 18425.00.

Technical comment:

As long as there is resistance at 18315.00, there is a bearish trend in price fluctuations.

Brent Crude (ICE)‎ (K4)‎ Within the day: Bullish.

Pivot Point:

86.20

Trading strategy:

Above 86.20, bullish with target prices at 87.15 and then 87.70.

Alternative strategy:

Below 86.20, bearish with target prices at 85.55 and then 85.00.

Technical comment:

Even though we cannot rule out the possibility of ongoing adjustments, they should be limited in duration.

UK FTSE 100 Index Futures Within the day: Under pressure.

Pivot Point:

7758.00

Trading strategy:

Below 7758.00, bearish with target prices at 7705.00 and then 7680.00.

Alternative strategy:

Above 7758.00, bullish with target prices at 7780.00 and then 7794.00.

Technical comment:

RSI indicator is below the 50% neutral zone.

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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