FxPro: Daily Technical Analysis for June 3, 2024, Before the European Market Opens

View the global market opinions of the Trading Center's Global Research Department today. Explore new trading methods and Hong Kong currency exchangeopportunities from popular trading products.

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

Friendly reminder: Due to market fluctuations, prices may have crossed key levels, rendering strategies ineffective.

EUR/USD Intraday: Ultra-short-term support around 1.0835.

Pivot Point:

1.0835

Trading Strategy:

Above 1.0835, look for a rise towards 1.0865, then 1.0880.

Alternative Strategy:

Below 1.0835, look for a decline towards 1.0820, then 1.0810.

Technical Analysis:

The RSI technical indicator shows a complex trend, leaning towards an upward movement.

Gold Spot Intraday: Moving towards 2306.00.

Pivot Point:

2331.00

Trading Strategy:

Below 2331.00, look for a drop towards 2314.00, then 2306.00.

Alternative Strategy:

Above 2331.00, look for a rise towards 2345.00, then 2356.00.

Technical Analysis:

The RSI technical indicator shows a complex trend, leaning towards a downward movement.

GBP/USD Intraday: Bullish above 1.2720.

Pivot Point:

1.2720

Trading Strategy:

Above 1.2720, look for a rise towards 1.2760, then 1.2780.

Alternative Strategy:

Below 1.2720, look for a decline towards 1.2700, then 1.2680.

Technical Analysis:

Even though a continuous correction cannot be ruled out, its duration should be limited.

EUR/JPY Intraday: Bullish while 170.27 serves as support.

Pivot Point: 170.27

Trading Strategy:

Bullish while 170.27 serves as support.

Alternative Strategy:

If it breaks below 170.27, the EUR/JPY target direction is set at 169.65 and 169.28.

Technical Analysis:

The RSI technical indicator is above the neutral area of 50. The MACD technical indicator is above its signal line, indicating a bullish stance. Additionally, the price is above its 20-day and 50-day moving averages (at 170.62 and 170.40, respectively). Lastly, the current price is above the upper Bollinger band (at 170.81).

EUR/GBP Intraday: Bullish.

Pivot Point:

0.8506

Trading Strategy:

Bullish.

Alternative Strategy:

A break below 0.8506 will likely initiate a further decline to 0.8494, then 0.8487.

Technical Analysis:

The RSI technical indicator is above 50. The MACD technical indicator shows a bearish state but is above its signal line. Additionally, the price is below its 50-day moving average (0.8518) but above its 20-day moving average (0.8515).

USD/CHF Intraday: Short-term key resistance at 0.9040.

Pivot Point:

0.9040

Trading Strategy:

Below 0.9040, look for a drop towards 0.8980, then 0.8960.

Alternative Strategy:

Above 0.9040, look for a rise towards 0.9065, then 0.9090.

Technical Analysis:

As long as the resistance at 0.9040 holds, there is a bearish bias in price movement.

Germany DAX Futures (Eurex) Intraday: Ultra-short-term support around 18620.00.

Pivot Point:

18620.00

Trading Strategy:

Above 18620.00, look for a rise towards 18760.00, then 18819.00.

Alternative Strategy:

Below 18620.00, look for a decline towards 18555.00, then 18470.00.

Technical Analysis:

Investors should proceed with caution as these support or resistance levels might trigger profit-taking.

Brent Crude Oil (ICE) Intraday: Ultra-short-term support around 80.80.

Pivot Point:

80.80

Trading Strategy:

Above 80.80, look for a rise towards 81.70, then 82.20.

Alternative Strategy:

Below 80.80, look for a decline towards 80.45, then 80.00.

Technical Analysis:

The RSI technical indicator shows a complex trend, leaning towards an upward movement.

UK FTSE 100 Futures Intraday: Limited upside potential.

Pivot Point:

8286.00

Trading Strategy:

Above 8286.00, look for a rise towards 8381.00, then 8428.00.

Alternative Strategy:

Below 8286.00, look for a decline towards 8248.00, then 8214.00.

Technical Analysis:

Investors should proceed with caution as these support or resistance levels might trigger profit-taking.

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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