RedstoneFx Analyst

Redstone Morning Analysis 15/4/2021


Trend Theme:GBP/USD: Clings to 200-HMA inside one-week-old rising channel.

Trend Review:GBP/USD flirts with an intraday low of 1.3774 amid Thursday’s Asian session. The cable rose to the highest since April 07 during the three-day rise the previous day. The pair portrays a short-term ascending trend channel formation. 

Today Advise:Bearish

Key Levels:

PPResistance* 1.3808 *1.3838 **1.3867 ***
1.3778Support*1.3748 *1.3719 **1.3689 ***

Position Datas:



Trend Theme:USD/CAD slumps to 1.2500 as USD selloff intensifies.

Trend Review:The USD/CAD pair rose to a daily high of 1.2576 during the European trading hours but reversed its direction in the second half of the day. 

Today Advise:StronglyBearish

Key Levels:

PPResistance*1.2564 *1.2608 **1.2640 ***
1.2532Support*1.2488 *1.2456 **1.2412 ***

Position Datas:



Trend Theme:WTI looks to regain $63.00 amid weaker US dollar, geopolitical fears.

Trend Review:WTI bounces off intraday low while staying mildly bid near the one-month top. The black gold jumped to the highest in one month the previous day, not to forget the biggest rise since late March, as price-positive inventory data joined the US dollar weakness to favor commodities.

Today Advise:StronglyBullish

Key Levels:

PPResistance*64.06 *65.32 **67.13 ***
62.25Support*61.00 *59.18 **57.93 ***

Position Datas:



Trend Theme:Gold: Bulls battle 200-HMA despite sluggish momentum.

Trend Review:Gold prices pick-up bids to refresh intraday top. Sustained bounce-off monthly horizontal support keeps buyers hopeful inside short-term symmetrical triangle. Monthly bottom adds to the downside filters, November 2020 low offers extra challenge to the bulls.

Today Advise:Bullish

Key Levels:

PPResistance*1746.36 *1756.30 **1763.16 ***
1739.50Support*1729.56 *1722.70 **1712.76 ***

Position Datas:

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