RedstoneFx Analyst
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Redstone Morning Analysis 10/2/2021

EUR/USD

Trend Theme: EUR/USD eyes 50-day SMA hurdle.

Trend Review:EUR/USD’s daily chart shows a bullish breakout above falling trendline. The pair appears set to test higher resistance levels. EUR/USD looks north and could test the 50-day Simple Moving Average (SMA) hurdle of 1.2150, technical charts indicate.

Today Advise:Bearish

Key Levels:

PPResistance*1.2143 *1.2169 **1.2216 ***
1.2095Support*1.2069 *1.2021 **1.1995 ***

Position Datas:

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AUD/USD

Trend Theme: AUD/USD: Bulls losing conviction above 0.7700 on downbeat China CPI.

Trend Review:AUD/USD trades below 0.7750, back in the red amid downbeat Chinese CPI data and broad-based US dollar rebound. Market sentiment turns cautiously optimistic amid US stimulus hopes, ahead of US inflation report. 

Today Advise:StronglyBullish

Key Levels:

PPResistance*0.7753 *0.7769 **0.7797 ***
0.7726Support*0.7710 *0.7682 **0.7666 ***

Position Datas:

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WTI-OIL

Trend Theme:WTI sees seventh day of gains, little changed after bullish API inventory numbers.

Trend Review:Front-month futures prices for the American benchmark for sweet light crude, West Texas Intermediary (or WTI), was little changed in wake of a bullish weekly API private inventory report released just after 21:30GMT. But WTI still managed its seventh day of gains as the underlying fundamental picture remains bullish.

Today Advise:Bullish

Key Levels:

PPResistance*58.80 *59.32 **60.12 ***
57.99Support*57.47 *56.67 **56.15 ***

Position Datas:

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XAUUSD

Trend Theme:Gold battles key upside hurdles below $1850.

Trend Review:Gold prices step back from one-week top, snap three-day uptrend. Although the receding strength of the bearish MACD signals favors the gold buyers, multiple resistances restrict the metal’s around $1840.

Today Advise:Bearish

Key Levels:

PPResistance*1846.80 *1857.57 **1866.50 ***
1837.87Support*1827.10 *1818.17 **1807.40 ***

Position Datas:

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