RedstoneFx Analyst
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Redstone Morning Analysis 16/4/2021

EUR/USD

Trend Theme:EUR/USD: Thursday’s bearish spinning top below 1.2000 probes buyers.

Trend Review:EUR/USD picks up bids after the first negative daily closing of the week. Strong RSI, successful break of 50-day SMA keeps buyers hopeful. Horizontal line from February 05 adds to the downside support, bulls will have a bumpy road beyond 1.2000.

Today Advise:Bearish

Key Levels:

PPResistance*1.1988 *1.2009 **1.2025 ***
1.1972Support*1.1951 *1.1935 **1.1914 ***

Position Datas:

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AUD/USD

Trend Theme:AUD/USD corrects towards 0.7700 ahead of China data dump.

Trend Review:AUD/USD is heading towards 0.7700, retreating from monthly highs near 0.7760. US dollar is attempting a bounce amid tepid market mood.  The upbeat US data-led risk-on trading and strong Australian jobs data helped the aussie reach monthly highs. China data dump awaited. 

Today Advise:Bullish

Key Levels:

PPResistance*0.7775 *0.7797 **0.7832 ***
0.7740Support*0.7718 *0.7683 **0.7661 ***

Position Datas:

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WTI/USD

Trend Theme:WTI: Bulls battle key hurdle around $63.70-75.

Trend Review:WTI picks up bids to $63.45 during the four-day run-up that probes March 18 top by the press time of Friday’s Asian session. While the strongest bullish signals from MACD since mid-February backs the oil benchmark’s latest run-up, a horizontal line comprising multiple levels marked since February 25, around $63.70-75, tests the buyers off-late.

Today Advise:Bullish

Key Levels:

PPResistance*63.81 *64.24 **64.84 ***
63.21Support*62.78 *62.18 **61.75 ***

Position Datas:

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XAUUSD

Trend Theme:Gold consolidates the heaviest gains in five weeks above $1,750.

Trend Review:Gold eases from late February tops in the latest pullback move.The yellow metal surged the most since early March, not to forget refreshing the multi-day high, amid broad risk-on mood. China data dump, vaccine news can offer an active Asian session.

Today Advise:Bearish

Key Levels:

PPResistance*1777.54 *1791.25 **1812.82 ***
1755.97Support*1742.26 *1720.69 **1706.98 ***

Position Datas:

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