FxPro Analysis: Technical Analysis Before the European Market Opens on April 8, 2024

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

Note: Due to market fluctuations, prices may have moved beyond key points, rendering strategies ineffective.

EUR/USD Intraday: Proceed with caution.

Pivot Point:

1.0845

Trading Strategy:

Below 1.0845, bearish with target levels at 1.0815, then 1.0800.

Alternative Strategy:

Above 1.0845, bullish with target levels set at 1.0860, then 1.0875.

Technical Commentary:

Intraday technical indicators are complex, proceed with caution.

Spot Gold Intraday: Further increase expected.

Pivot Point:

2312.00

Trading Strategy:

Above 2312.00, bullish with target levels at 2355.00, then 2375.00.

Alternative Strategy:

Below 2312.00, bearish, target levels set at 2292.00, then 2281.00.

Technical Commentary:

The RSI indicator shows a further upward trend.

GBP/USD Intraday: Proceed with caution.

Pivot Point:

1.2645

Trading Strategy:

Below 1.2645, bearish, target levels at 1.2605, then 1.2585.

Alternative Strategy:

Above 1.2645, bullish with target levels set at 1.2665, then 1.2685.

Technical Commentary:

Intraday technical indicators are complex, proceed with caution.

EUR/JPY Intraday: Bullish, with 163.88 as the support level, target set at 165.08.

Pivot Point is:

163.88

Trading Strategy:

Bullish, with 163.88 as the support level, target set at 165.08.

Alternative Strategy:

If it breaks below 163.88, EUR/JPY target directed to 163.42 and 163.15.

Technical Commentary:

The RSI indicator is above the neutral zone of 50. The MACD indicator is bullish and is below its signal line. In addition, prices are above their 20-day and 50-day moving averages (which are at 164.18 and 163.99, respectively).

EUR/GBP Intraday: Bullish, as long as 0.8570 is not breached.

Pivot Point is:

0.8570

Trading Strategy:

Bullish, as long as 0.8570 is not breached.

Alternative Strategy:

If it drops below 0.8570, EUR/GBP target directed to 0.8560 and 0.8553.

Technical Commentary:

The RSI indicator is above the neutral zone of 50. The MACD indicator shows a bearish state and is above its signal line. In addition, prices are above their 20-day and 50-day moving averages (currently at 0.8577 and 0.8576, respectively).

USD/CHF Intraday: Bullish above 0.9010.

Pivot Point:

0.9010

Trading Strategy:

Above 0.9010, bullish, target levels at 0.9060, then 0.9075.

Alternative Strategy:

Below 0.9010, bearish, target levels set at 0.8995, then 0.8980.

Technical Commentary:

A base near 0.9010 has formed, providing short-term stability in the trend.

German DAX Index Futures (Eurex) Intraday: Downtrend.

Pivot Point:

18520.00

Trading Strategy:

Below 18520.00, bearish, target levels at 18330.00, then 18270.00.

Alternative Strategy:

Above 18520.00, bullish, target levels set at 18580.00, then 18665.00.

Technical Commentary:

The RSI indicator is bearish, with more room to decline.

Brent Crude (ICE) Intraday: Target set at 88.00.

Pivot Point:

90.80

Trading Strategy:

Below 90.80, bearish, target levels at 88.75, then 88.00.

Alternative Strategy:

Above 90.80, bullish, target levels set at 91.30, then 91.90.

Technical Commentary:

As long as the 90.80 resistance is not breached, the risk of breaking lower than 88.75 is high.

UK FTSE 100 Index Futures Intraday: Short-term key resistance at 7920.00.

Pivot Point:

7920.00

Trading Strategy:

Below 7920.00, bearish, target levels at 7866.00, then 7842.00.

Alternative Strategy:

Above 7920.00, bullish, target levels set at 7944.00, then 7965.00.

Technical Commentary:

At this stage, the index faces the challenge of the 7920.00 resistance area.

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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