FxPro Forex: Daily Technical Analysis before the European Market Opens, April 2, 2024

Check out today's market insights from the Global Research Department of the Trading Center. Explore new trading methods and What is Barter Treasureopportunities from popular trading products.

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

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

Spot Gold Throughout the day: Bullish above 2236.00.

Pivot point:

2236.00

Trading strategy:

Bullish above 2236.00, with target prices at 2265.00, followed by 2275.00.

Alternative strategy:

Bearish below 2236.00, with target prices at 2228.00, then 2219.00.

Technical comments:

RSI indicator signals bullishness.

GBP/USD Throughout the day: Immediate resistance at 1.2575.

Pivot point:

1.2575

Trading strategy:

Bearish below 1.2575, with target prices at 1.2525, then 1.2500.

Alternative strategy:

Bullish above 1.2575, with target prices at 1.2600, followed by 1.2625.

Technical comments:

As long as the resistance of 1.2575 is not breached, there's a high chance of breaking below 1.2525.

EUR/USD Throughout the day: Under pressure.

Pivot point:

1.0760

Trading strategy:

Bearish below 1.0760, with target prices at 1.0720, then 1.0700.

Alternative strategy:

Bullish above 1.0760, with target prices at 1.0785, followed by 1.0805.

Technical comments:

The RSI indicator's trend is complex, leaning towards a decline.

EUR/JPY Throughout the day: Potential for a rise, with targets at 163.65.

The pivot point is:

162.45

Trading strategy：

Potential for a rise, with targets at 163.65.

Alternative strategy：

If it falls below 162.45, EUR/JPY target directions are set at 162 and 161.73.

Technical comments :

The RSI indicator is below 50. MACD indicator is bearish and above its signal line. Moreover, prices are below their 20-day and 50-day moving averages (situated at 162.85 and 163.03, respectively).

EUR/GBP Throughout the day: Gradual decline, if 0.8565 hinders upward movement, then aim for 0.8536.

0.8565 as the pivot point.

Trading strategy：

Gradual decline, if 0.8565 hinders upward movement, then target 0.8536.

Alternative strategy：

Breaking above 0.8565 will bring a continuing upward trend, with targets at 0.8575 and 0.8582.

Technical comments :

The RSI indicator is below the neutral zone 50. MACD is bullish and below its signal line. Besides, the price is below its 20-day moving average (0.8558) but above its 50-day moving average (0.8552).

USD/CHF Throughout the day: Further uptrend.

Pivot point:

0.9035

Trading strategy:

Bullish above 0.9035, with target prices at 0.9080, then 0.9095.

Alternative strategy:

Bearish below 0.9035, with target prices at 0.9015, then 0.9000.

Technical comments:

RSI indicator is bullish, indicating a potential for further uptrend.

Germany DAX Index Futures (Eurex) (M4) Throughout the day: Bullish above 18725.00.

Pivot point:

18725.00

Trading strategy:

Bullish above 18725.00, with target prices at 18820.00, then 18866.00.

Alternative strategy:

Bearish below 18725.00, with target prices at 18660.00, then 18605.00.

Technical comments:

RSI indicator shows a complex trend, leaning towards an uptrend.

Brent Crude (ICE) (M4) Throughout the day: Heading towards 89.00.

Pivot point:

87.00

Trading strategy:

Bullish above 87.00, with target prices at 88.30, then 89.00.

Alternative strategy:

Bearish below 87.00, with target prices at 86.50, then 86.00.

Technical comments:

RSI indicator displays a further uptrend.

UK FTSE 100 Index Futures Throughout the day: Bullish above 7973.00.

Pivot point:

7973.00

Trading strategy:

Bullish above 7973.00, with target prices at 8005.00, then 8019.00.

Alternative strategy:

Bearish below 7973.00, with target prices at 7958.00, then 7945.00.

Technical comments:

RSI indicator points to a new upward trend.

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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