FxPro: Daily Technical Analysis Before the European Market Opens on June 4, 2024

Check out the market views of the Global Research department at the Trading Center today. Explore new trading methods and opportunities from popular trading products.

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

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

GBP/USD Intraday: Bullish above 1.2775.

Pivot point:

1.2775

Trading strategy:

Bullish above 1.2775 with target price at 1.2830, then 1.2850.

Alternate strategy:

Bearish below 1.2775, target price set at 1.2755, then 1.2735.

Technical commentary:

Above 1.2775 is a bullish signal with an upward target of 1.2830.

EUR/USD Intraday: Bullish above 1.0880.

Pivot point:

1.0880

Trading strategy:

Bullish above 1.0880 with target price at 1.0925, then 1.0950.

Alternate strategy:

Bearish below 1.0880, target price set at 1.0860, then 1.0840.

Technical commentary:

Above 1.0880 is a bullish signal with an upward target of 1.0925.

Spot Gold Intraday: Bullish above 2341.00.

Pivot point:

2341.00

Trading strategy:

Bullish above 2341.00 with target price at 2355.00, then 2362.00.

Alternate strategy:

Bearish below 2341.00, target price set at 2331.00, then 2320.00.

Technical commentary:

RSI technical indicator above the 50% neutral zone.

EUR/JPY Intraday: Bullish, as 170.02 serves as support.

170.02 as the pivot point.

Trading strategy:

Bullish, using 170.02 as support.

Alternate strategy:

A break below 170.02 will bring a downward trend, targeting 169.40 and then 169.03.

Technical commentary:

RSI technical indicator above the 50% neutral zone. MACD technical indicator is above its signal line. In addition, the price is above its 20-day and 50-day moving averages (170.41 and 170.29, respectively).

EUR/GBP Intraday: Potential for upward movement, target price set at 0.8537.

Pivot point:

0.8504

Trading strategy:

Potential for upward movement, target price set at 0.8537.

Alternate strategy:

If it breaks below 0.8504, EUR/GBP targets 0.8492 and 0.8485.

Technical commentary:

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

USD/CHF Intraday: Under pressure.

Pivot point:

0.8985

Trading strategy:

Bearish below 0.8985, target price at 0.8930, then 0.8900.

Alternate strategy:

Bullish above 0.8985, target price set at 0.9010, then 0.9035.

Technical commentary:

As long as the 0.8985 resistance exists, the price fluctuations have a bearish trend.

German DAX Index Futures (Eurex) Intraday: No clear trend.

Pivot point:

18755.00

Trading strategy:

Bearish below 18755.00, target price at 18549.00, then 18470.00.

Alternate strategy:

Bullish above 18755.00, target price set at 18830.00, then 18915.00.

Technical commentary:

As long as the 18755.00 resistance exists, the price fluctuations have a bearish trend.

Brent Crude Oil (ICE) Intraday: Under pressure.

Pivot point:

78.80

Trading strategy:

Bearish below 78.80, target price at 77.50, then 76.40.

Alternate strategy:

Bullish above 78.80, target price set at 79.60, then 80.70.

Technical commentary:

RSI technical indicator below the 30 mark.

UK FTSE 100 Index Futures Intraday: Under pressure.

Pivot point:

8296.00

Trading strategy:

Bearish below 8296.00, target price at 8226.00, then 8181.00.

Alternate strategy:

Bullish above 8296.00, target price set at 8327.00, then 8356.00.

Technical commentary:

RSI technical indicator bearish, with a further downward trend.