fbpx

Daily Technical analysis for April 02, 2021

EUR/USD

Current level – 1.1770

In the first trading day for this quarter, the pair violated the current downtrend and breached the resistance zone at 1.1760. The development of a complex pullback is thus highly probable. The low at around 1.1714 could be tested once again, where bulls are expected to enter and take the market higher. Their potential target would be the zone below 1.1820. The formation of a small range there would serve as a depiction of the battle between the bulls and the bears. If the buyers prevail, the trend would reverse and the rally is expected to target the levels at 1.1890 and at 1.1940. However, if the bears manage to maintain control, a breach of 1.1714 would become a highly probable scenario. Today, a rise in activity could be expected around the announcement of the non-farm payrolls and the unemployment data for the U.S. at 12:30 GMT.

USD/JPY

Current level –  110.62

The Ninja is slowing down and the market has entered a range phase. For the moment, trading is limited between the support at 110.40 and the resistance at 110.85. The latter level is coming from the higher time frames and breaching it could take longer than expected. However, a prolonged range could signal a reversal. The rally of the pair was swift and powerful, but it couldn’t form substantial supports along the way. Should 110.40 fail to hold off the bears, a sell-off towards 109.80 can be expected.

GBP/USD

Current level – 1.3833

Historically, the sterling has always enjoyed a strong performance in April. This time was no different and, on the first day of the month, the bulls managed to breach the resistance at 1.3790 and the market is currently testing the next area at 1.3840. The daily support for the buyers is found at 1.3790. A change in sentiment is beginning to emerge and so a rally towards the levels of 1.3900 and of 1.3950 is possible.

Gold Price Futures (GC) Technical Analysis – Facing Wall of Resistance from $1746.90 to $1788.50

The direction of the June Comex gold futures contract is likely to be determined by trader reaction to the long-term Fibonacci level at $1711.90.

Gold futures closed higher on Thursday after confirming the previous session’s closing price reversal bottom. Short-Covering ahead of the long Easter weekend and Friday’s  U.S. Non-Farm Payrolls report was likely responsible for the second consecutive price surge.

Volume was thin with many of the professional players on the sidelines so we don’t think a major buyer was behind the move. Furthermore, the fundamentals are bearish. Before we can get bullish, the market has to form a support base or a “W” pattern.

Following a prolonged move down, the first leg up is typically short-covering. This is followed by a two-day pullback. If the market is going to move higher then buyers will come in on the pullback.

On Thursday, June Comex gold settled at $1728.40, up $19.60 or 1.15%.

Daily Swing Chart Technical Analysis

The main trend is down according to the daily swing chart, however, momentum shifted to the upside following the confirmation of Wednesday’s closing price reversal bottom. A closing price reversal bottom doesn’t change the main trend to up, but it could trigger a 2 to 3 day counter-trend rally.

A trade through $1677.30 will negate the closing price reversal bottom and signal a resumption of the downtrend. The main trend will change to up on a move through $1756.00.

Gold is currently trading inside a major retracement zone at $1711.90 to $1788.50. This zone is controlling the longer-term direction of the market.

The first minor range is $1756.00 to $1677.30. The market is currently trading on the strong side of its 50% level at $1716.60.

The second minor range is $1817.60 to $1676.20. Its 50% level at $1746.90 is the next potential upside target.

The short-term range is $1858.90 to $1676.20. Its 50% level at $1767.60 is another potential upside target.

With all of this potential resistance, it’s hard to get excited about the long-term prospects of a rally unless buyers can take out the long-term 50% level at $1788.50.

Short-Term Outlook

The direction of the June Comex gold futures contract is likely to be determined by trader reaction to the long-term Fibonacci level at $1711.90.

Bullish Scenario

A sustained move over $1711.90 will indicate the presence of buyers. This could trigger a quick move into $1746.90, followed by $1756.00. Taking out the latter could lead to an extension of the rally into $1767.60 and $1788.50.

Bearish Scenario

A sustained move under $1711.90 will signal the presence of sellers. This could trigger a quick break into a new minor 50% level at $1704.60, followed by a pair of bottoms at $1677.30 and $1676.20. The latter is a potential trigger point for an acceleration to the downside.

Source: Technical analysis

Share this post

Comments (403)

Leave a Reply

Your email address will not be published. Required fields are marked *

Slot Amerika Slot Arab Slot Asia Slot Belanda Slot China Slot Dubai Slot Eropa Slot Filipina Slot Hongkong Slot Internasional Slot Jepang Slot Kamboja Slot Macau Slot Myanmar Slot Rusia Slot Singapore Slot Taiwan Slot Thailand Slot Vietnam Slot Luar Negeri Slot Server Thailand Slot Server Thailand Slot Zeus Slot PG Soft Bet 200 Slot PG Soft Bet 200 Slot PG Soft Bet 200 Slot PG Soft Bet 200 Slot Starlight Princess Slot Deposit Dana Slot Server Luar Slot Gacor Slot Server Internasional Slot Server Amerika Slot Server Arab Slot Server Asia Slot Server Belanda Slot Server China Slot Server Dubai Slot Server Eropa Slot Server Filipina Slot Server Hongkong Slot Server Jepang Slot Server Kamboja Slot Server Luar Slot Server Macau Slot Server Myanmar Slot Server Rusia Slot Server Taiwan Slot Server Thailand Slot Server Vietnam Slot Server Jepang Slot Server Kamboja Slot Server Luar Slot Server Malaysia Slot Server Myanmar Slot Server Rusia Slot Server Taiwan Slot Server Thailand Slot Server Vietnam Slot Gacor 4d SBOBET88 Slot Demo Slot Server amerika Slot Server asia Slot Server china Slot Server Dubai Slot Server eropa Slot Server filipina Slot Server hongkong Slot Server internasional Slot Server jepang Slot Server kamboja Slot Server Korea Slot Server lebanon Slot Server macau Slot Server malaysia Slot Server monaco Slot Server myanmar Slot Server rusia Slot Server sensasional Slot Server singapore Slot Server taiwan Slot Server thailand Slot Server vietnam Slot Mahjong Ways Slot Mahjong Ways Slot Mahjong Ways Slot Mahjong Ways Slot Gacor Maxwin Casino Online Slot Server amerika Slot Server asia Slot Server china Slot Server eropa Slot Server filipina Slot Server Eropa Slot Server Filipina Slot Server Internasional Slot Server Jepang Slot Server Kamboja Slot Server Luar Slot Server Malaysia Slot Server Myanmar Slot Server Thailand Slot Server Taiwan Slot Server Vietnam Slot Server Rusia Slot Server Singapore Slot Server hongkong Slot Server internasional Slot Server jepang Slot Server kamboja Slot Server Korea Slot Serve Luar Slot Server lebanon Slot Server macau Slot Server malaysia Slot Server monaco Slot Server myanmar Slot Server rusia Slot Server sensasional Slot Server singapore Slot Server taiwan Slot Server thailand Slot Server vietnam Slot Server amerika Slot Server asia Slot Server china Slot Server eropa Slot Server filipina Slot Server hongkong Slot Server internasional Slot Server jepang Slot Server kamboja Slot Server Lebanon Slot Serve Luar Slot Server macau Slot Server malaysia Slot Server myanmar Slot Server Prancis Slot Server rusia Slot Server sensasional Slot Server singapore Slot Server Spain Slot Server taiwan Slot Server thailand Slot Server vietnam Slot Server amerika Slot Server asia Slot Server china Slot Server eropa Slot Server filipina Slot Server hongkong Slot Server internasional Slot Server jepang Slot Server kamboja Slot Server Lebanon Slot Serve Luar Slot Server macau Slot Server malaysia Slot Server myanmar Slot Server Prancis Slot Server rusia Slot Server sensasional Slot Server singapore Slot Server Spain Slot Server taiwan Slot Server thailand Slot Server vietnam Slot Server amerika Slot Server asia Slot Server china Slot Server eropa Slot Server filipina Slot Server hongkong Slot Server internasional Slot Server jepang Slot Server kamboja Slot Server Korea Slot Serve Luar Slot Server lebanon Slot Server macau Slot Server malaysia Slot Server monaco Slot Server myanmar Slot Server rusia Slot Server sensasional Slot Server singapore Slot Server taiwan Slot Server thailand Slot Server vietnam Slot Demo CASINO INDONESIA DEMO SLOT AKUN PRO AMERIKA AKUN PRO ASIA AKUN PRO CHINA AKUN PRO EROPA AKUN PRO FILIPINA AKUN PRO HONGKONG AKUN PRO JEPANG AKUN PRO KAMBOJA AKUN PRO KOREA AKUN PRO LEBANON AKUN PRO MACAU AKUN PRO MALAYSIA AKUN PRO MONACO AKUN PRO MYANMAR AKUN PRO RUSIA AKUN PRO SINGAPORE AKUN PRO TAIWAN AKUN PRO THAILAND AKUN PRO VIETNAM LINK SERVER INTERNASIONAL LINK SERVER LUAR LINK SERVER SENSASIONAL LINK SERVER INTERNASIONAL LINK SERVER LUAR LINK SERVER SENSASIONAL SLOT SERVER AMERIKA SLOT SERVER ASIA SLOT SERVER CHINA SLOT SERVER EROPA SLOT SERVER FILIPINA SLOT SERVER HONGKONG SLOT SERVER JEPANG SLOT SERVER KAMBOJA SLOT SERVER KOREA SLOT SERVER LEBANON SLOT SERVER MALAYSIA SLOT SERVER MESIR SLOT SERVER MONACO SLOT SERVER MYANMAR SLOT SERVER RUSIA SLOT SERVER SINGAPORE SLOT SERVER TAIWAN SLOT SERVER THAILAND SLOT SERVER VIETNAM Slot Server amerika Slot Server asia Slot Server china Slot Server eropa Slot Server filipina Slot Server hongkong Slot Server internasional Slot Server jepang Slot Server kamboja Slot Server Korea Slot Serve Luar Slot Server lebanon Slot Server macau Slot Server malaysia Slot Server monaco Slot Server myanmar Slot Server rusia Slot Server sensasional Slot Server singapore Slot Server taiwan Slot Server thailand Slot Server vietnam Akun Pro amerika Akun Pro china Akun Pro eropa Akun Pro filipina Akun Pro hongkong Akun Pro jepang Akun Pro kamboja Akun Pro Korea Akun Pro lebanon Akun Pro macau Akun Pro malaysia Akun Pro monaco Akun Pro myanmar Akun Pro rusia Akun Pro singapore Akun Pro taiwan Akun Pro thailand Akun Pro vietnam Link Server Asia Link Server Internasional Link Server Luar Link Server Vietnam BUJANGJP Bujangjp Bujangjp Slot Server amerika Slot Server asia Slot Server Brunei Slot Server china Slot Server eropa Slot Server filipina Slot Server hongkong Slot Server internasional Slot Server jepang Slot Server kamboja Slot Server Korea Slot Server Luar Slot Server malaysia Slot Server Myanmar Slot Server Rusia Slot Server sensasional Slot Server singapore Slot Server spain Slot Server taiwan Slot Server thailand Slot Server vietnam Sabung Ayam Online Slot Server amerika Slot Server asia Slot Server Australia Slot Server Brunei Slot Server china Slot Server Dubai Slot Server eropa Slot Server filipina Slot Server Hongkong Slot Server India Slot Server internasional Slot Server jepang Slot Server kamboja Slot Server Korea Slot Server macau Slot Server malaysia Slot Server Myanmar Slot Server singapore Slot Server taiwan Slot Server thailand Slot Server vietnam Akun Pro amerika Akun Pro china Akun Pro eropa Akun Pro filipina Akun Pro hongkong Akun Pro Inggris Akun Pro jepang Akun Pro kamboja Akun Pro Korea Akun Pro lebanon Akun Pro macau Akun Pro malaysia Akun Pro monaco Akun Pro myanmar Akun Pro Prancis Akun Pro rusia Akun Pro singapore Akun Pro taiwan Akun Pro thailand Akun Pro vietnam Link Server Asia Link Server Internasional Link Server Luar Link Server Vietnam Sabung Ayam Online Slot Server Kamboja Slot Demo Pragmatic Slot Server amerika Slot Server asia Slot Server china Slot Server eropa Slot Server filipina Slot Server hongkong Slot Server internasional Slot Server jepang Slot Server kamboja Slot Server Luar Slot Server malaysia Slot Server Myanmar Slot Server Prancis Slot Server Rusia Slot Server singapore Slot Server sensasional Slot Server taiwan Slot Server thailand Slot Server vietnam Akun Pro amerika Akun Pro china Akun Pro eropa Akun Pro filipina Akun Pro hongkong Akun Pro jepang Akun Pro kamboja Akun Pro Korea Akun Pro lebanon Akun Pro macau Akun Pro malaysia Akun Pro monaco Akun Pro myanmar Akun Pro rusia Akun Pro singapore Akun Pro taiwan Akun Pro thailand Akun Pro vietnam Link Server Asia Link Server Internasional Link Server Luar Link Server Sensasional akun pro thailand akun pro amerika akun pro arab akun pro china akun pro dubai akun pro filipina akun pro hongkong akun pro internasional akun pro jepang akun pro kamboja akun pro korea akun pro macau akun pro myanmar akun pro rusia akun pro singapore akun pro taiwan akun pro vietnam akun pro asia akun pro luar negeri akun pro amerika akun pro arab akun pro asia akun pro china akun pro dubai akun pro eropa akun pro filipina akun pro hongkong akun pro internasional akun pro jepang akun pro kamboja akun pro korea akun pro macau akun pro myanmar akun pro rusia akun pro singapore akun pro taiwan akun pro thailand akun pro vietnam akun pro luar negeri slot server thailand slot server amerika slot server arab slot server asia slot server china slot server eropa slot server filipina slot server hongkong slot server jepang slot server kamboja slot server internasional slot server korea slot server macau slot server myanmar slot server rusia slot server singapore slot server taiwan slot server vietnam slot server luar negeri slot thailand slot amerika slot arab slot asia slot china slot dubai slot eropa slot filipina slot hongkong slot internasional slot jepang slot kamboja slot korea slot luar negeri slot macau slot myanmar slot rusia slot singapore slot taiwan slot vietnam akun pro dubai akun pro amerika akun pro arab akun pro asia akun pro belanda akun pro china akun pro eropa akun pro filipina akun pro hongkong akun pro internasional akun pro jepang akun pro kamboja akun pro korea akun pro macau akun pro myanmar akun pro rusia akun pro singapore akun pro taiwan akun pro thailand akun pro vietnam akun pro luar negeri akun pro thailand akun pro amerika akun pro arab akun pro asia akun pro china akun pro dubai akun pro eropa akun pro filipina akun pro hongkong akun pro internasional akun pro jepang akun pro kamboja akun pro korea akun pro macau akun pro myanmar akun pro rusia akun pro singapore akun pro taiwan akun pro vietnam akun pro luar negeri

User Agreement

Day Finance is an educational site and a platform for exchanging Forex information. All information contained on this web site is a personal opinion or belief of the author. None of these data is a recommendation or financial advice in any sense.
Terms And Conditions