April 4th – Daily Market Insight
Market news summary
US INDEX
From the higher time frame, the overall trend for US INDEX is bullish. Down to the hourly time frame price seems to be in a range after an initial impulsive move in the bullish direction as the 200 EMA is moving in between prices. Price is currently retesting a minor support level of 98.50 which is in confluence with the retest of the 200EMA. The RSI and MACD are above the centre-line for price continuation in the bullish direction.
PIVOT POINT: 98.50
S1 | S2 | S3 | |
---|---|---|---|
SUPPORT | 98.50 | 97.70 | 97.30 |
R1 | R2 | R3 | |
RESISTANCE | 98.90 | 99.30 | 99.85 |
GBPUSD
From the overview of price in GBPUSD, the trend looks bearish. Price is trading below the 200 EMA and has also broken the upward trend line and is about to retest the trend-line which is in confluence with the support level of 1.3145 before continuing bearish. The MACD is below the centre-line for a possible price continuation in the bearish direction.
PIVOT POINT: 1.3145
S1 | S2 | S3 | |
SUPPORT | 1.3145 | 1.3175 | 1.3220 |
R1 | R2 | R3 | |
RESISTANCE | 1.3120 | 1.3090 | 1.3060 |
USDJPY
From the overview of price in USDJPY, the overall trend looks bullish. Price is trading above the 200 EMA, and it is currently retesting the support level of 122.30. The RSI and MACD are above the centre-line which indicates price continuation in the bullish direction.
PIVOT POINT: 122.35
S1 | S2 | S3 | |
SUPPORT | 122.35 | 121.30 | 120.60 |
R1 | R2 | R3 | |
RESISTANCE | 123.20 | 123.8- | 124.30 |
WTI (US OIL)
From the overview of price in WITI, the overall trend looks bearish. Price is testing the resistance level of 98.40 which is making a counter-trend move to the support level of 103.35. There seem to be confluences between the downward trend-line and 200 EMA at the support level of 103.35,
PIVOT POINT: 103.35
S1 | S2 | S3 | |
SUPPORT | 100.10 | 103.35 | 107.10 |
R1 | R2 | R3 | |
RESISTANCE | 97.80 | 92.60 | 90.10 |
ETHUSD
From the overview of the price in ETHUSD, the overall trend looks bullish as the price is trading below the 200 EMA. The price is currently within the support level of 3,475, which may possibly push the price in a bullish direction. The MACD and RSI are within the center-line.
PIVOT POINT: 3413
S1 | S2 | S3 | |
SUPPORT | 3475 | 3413 | 3260 |
R1 | R2 | R3 | |
RESISTANCE | 3640 | 3755 | 3895 |
BTCUSD
From the overview of the price in BTCUSD, the trend looks bullish as the price is trading below the 200 EMA. Price is currently retesting the support level of 45,700 which is also in confluence with the 200 EMA before the price continues bullish. The MACD and RSI are above the centre-line.
PIVOT POINT: 45700
S1 | S2 | S3 | |
SUPPORT | 45700 | 44880 | 42210 |
R1 | R2 | R3 | |
RESISTANCE | 46900 | 48080 | 49730 |
GOLD SPOT (XAUUSD)
From the overview of price in XAUUSD, the price seems to be in consolidation after refusing to make any significant move to either the bullish or bearish direction. From the hourly timeframe, the price seems to break the downward trendline to the upside which may result in a possible pullback to the support level of 1,930 before pushing to the bullish direction.
PIVOT POINT: 1925
S1 | S2 | S3 | |
SUPPORT | 1925 | 1920 | 1910 |
R1 | R2 | R3 | |
RESISTANCE | 1930 | 1945 | 1960 |