FxPro: Daily Tech Analysis before the European Market Opens on March 6, 2024

Explore the latest market insights from the global research department at the Trading Center today. Discover new trading methods and opportunities 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  

Note: Due to market volatility, prices may have crossed key levels, rendering strategies ineffective.

Spot Gold Today: Ultra-short term (intraday) support around 2120.00.

Pivot Point:

2120.00

Trading Strategy:

Bullish above 2120.00, with target levels at 2141.00, followed by 2150.00.

Alternative Strategy:

Bearish below 2120.00, with target levels at 2110.00, followed by 2095.00.

Technical Commentary:

Ultra-short term (intraday) technical indicators are complex, proceed with caution.

GBP/USD Today: Uptrend.

Pivot Point:

1.2680

Trading Strategy:

Bullish above 1.2680, with target levels at 1.2710, followed by 1.2735.

Alternative Strategy:

Bearish below 1.2680, with target levels at 1.2665, followed by 1.2650.

Technical Commentary:

RSI technical indicators are complex, showing a tendency to rise.

EUR/USD Today: Uptrend.

Pivot Point:

1.0840

Trading Strategy:

Bullish above 1.0840, with target levels at 1.0875, followed by 1.0890.

Alternative Strategy:

Bearish below 1.0840, with target levels at 1.0825, followed by 1.0810.

Technical Commentary:

RSI technical indicators are trending upwards.

EUR/JPY Today: Possible rise, with a target level at 163.38.

Pivot Point: 162.34.

Trading Strategy:

Possible rise, with a target level at 163.38.

Alternative Strategy:

A break below 162.34 may trigger a downtrend, with target levels at 161.94, followed by 161.70.

Technical Commentary:

RSI technical indicators are below the neutral zone of 50. MACD indicators are bearish, above their signal line. Additionally, the price is below its 20-day and 50-day moving averages (located at 162.75 and 162.94 respectively).

EUR/GBP Today: Possible rise, with a target level at 0.8561.

Pivot Point:

0.8535

Trading Strategy:

Possible rise, with a target level at 0.8561.

Alternative Strategy:

A break below 0.8535 targets the EUR/GBP at 0.8525 and 0.8519.

Technical Commentary:

RSI technical indicators are below 50. MACD indicators are bearish, above their signal line. Furthermore, the price is below its 20-day and 50-day moving averages (currently at 0.8544 and 0.8548).

USD/CHF Today: Adjustment.

Pivot Point:

0.8865

Trading Strategy:

Bearish below 0.8865, with target levels at 0.8825, followed by 0.8805.

Alternative Strategy:

Bullish above 0.8865, with target levels at 0.8880, followed by 0.8895.

Technical Commentary:

RSI technical indicators are complex, showing a tendency to fall.

Germany DAX Index Futures (Eurex) (H4) Today: Short-term adjustment.

Pivot Point:

17730.00

Trading Strategy:

Bearish below 17730.00, with target levels at 17655.00, followed by 17600.00.

Alternative Strategy:

Bullish above 17730.00, with target levels at 17775.00, followed by 17817.00.

Technical Commentary:

As long as the resistance at 17730.00 remains, there's a bearish trend in price fluctuations.

Brent Crude (ICE) (K4) Today: No significant change in trend.

Pivot Point:

82.70

Trading Strategy:

Bearish below 82.70, with target levels at 81.70, followed by 81.30.

Alternative Strategy:

Bullish above 82.70, with target levels at 83.10, followed by 83.60.

Technical Commentary:

As long as the resistance at 82.70 remains, there's a bearish trend in price fluctuations.

UK FTSE 100 Index Futures Today: Short-term key resistance at 7630.00.

Pivot Point:

7630.00

Trading Strategy:

Bearish below 7630.00, with target levels at 7575.00, followed by 7545.00.

Alternative Strategy:

Bullish above 7630.00, with target levels at 7643.00, followed by 7656.00.

Technical Commentary:

As long as the resistance at 7630.00 remains, there's a bearish trend in price fluctuations.