RedstoneFx Analyst
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Redstone Morning Analysis 13/4/2021

AUD/USD

Trend Theme:AUD/USD: Bulls lack upside conviction at daily resistance.

Trend Review:AUD/USD meets critical resistance at a confluence of structure and a 38.2% Fibo. AUD/USD is lacking momentum on the upside which makes for a compelling case for the downside at this juncture. Bears eye a downside opportunity at this juncture. 

Today Advise:Bearish

Key Levels:

PPResistance* 0.7642 *0.7660 **0.7684 ***
0.7618Support*0.7599 *0.7575 **0.7557 ***

Position Datas:

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USD/JPY

Trend Theme:USD/JPY: Bears seek downside continuation.

Trend Review:USD/JPY is failing to convince an upward trajectory and the focus is on the downside as the bulls meet a significant Fibonacci retracement area at a confluence of resistance structure. Bears are ready to pounce at this juncture with a focus on near term support. 

Today Advise:StronglyBearish

Key Levels:

PPResistance*109.69 *109.99 **110.21 ***
109.47Support*109.17 *108.95 **108.65 ***

Position Datas:

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WTI/USD

Trend Theme:WTI retraces from $59.80 amid a potential symmetrical triangle breakout.

Trend Review:WTI trades with a softer tone on Monday following the previous week’s subdued price action. Crude oil moves in a narrow trade band where lows are restricted around the $59.10 neighborhood and the highs near the $59.75 region.

Today Advise:Bullish

Key Levels:

PPResistance*60.71 *61.76 **62.73 ***
59.74Support*58.69 *57.72 **56.67 ***

Position Datas:

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XAUUSD

Trend Theme:Gold: Bears ready to pounce following key break of support.

Trend Review:XAU/USD bears are lurking at a critical level of resistance. Gold is correcting from a significant area of support as pressures mount in general and the focus can be on an optimal shorting point as price meets a significant area of confluence.

Today Advise:Bullish

Key Levels:

PPResistance*1742.67 *1752.73 **1760.35 ***
1735.05Support*1724.99 *1717.37 **1707.31 ***

Position Datas:

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