RedstoneFx Analyst
by
on

Redstone Morning Analysis 21/4/2021

GBP/USD

Trend Theme:GBP/USD keeps pullback from one-month top around mid-1.3900s ahead of UK CPI.

Trend Review:GBP/USD takes a U-turn from intraday top after snapping a six-day uptrend the previous day. US dollar recovery, backed by covid woes, superseded upbeat UK jobs report. British inflation figures, risk catalysts should be followed for fresh impulse.

Today Advise:Bearish

Key Levels:

PPResistance*1.3991 *1.4041 **1.4073 ***
1.3958Support*1.3908 *1.3876 **1.3825 ***

Position Datas:

————————————————————————————————-

AUD/USD

Trend Theme:AUD/USD holds steady above 0.77 despite upbeat Aussie Retail Sales.

Trend Review:AUD/USD holds steady above 0.7700, consolidating the heaviest losses in two weeks after falling from monthly tops. The aussie shrugs off a big beat on the Australian Retail Sales data, as the US dollar keeps its recovery mode intact amid tepid mood. 

Today Advise:Bearish

Key Levels:

PPResistance*0.7792 *0.7859 **0.7901 ***
0.7750Support*0.7683 *0.7641 **0.7574 ***

Position Datas:

—————————————————————————————————

WTI/USD

Trend Theme:WTI fades bounce off weekly low amid surprise API inventory build, covid woes.

Trend Review:WTI’s corrective pullback from one-month top fizzles as the black gold drops back towards $62.00, currently down near $62.40, amid the early Wednesday morning in Asia. While demand fears and the OPEC-linked news weighed down the oil benchmark the previous day, the black gold’s latest declines could be traced from downbeat inventory data from the private survey.

Today Advise:Bearish

Key Levels:

PPResistance*64.01 *65.62 **66.88 ***
62.75Support*61.13 *59.87 **58.26 ***

Position Datas:

—————————————————————————————————

XAUUSD

Trend Theme:Gold prints mild losses below $1,800, tracks S&P 500 Futures.

Trend Review:Gold fails to extend Tuesday’s upbeat performance while easing to $1,777, down 0.07% intraday, during the initial Asian session on Wednesday.

Today Advise:Bearish

Key Levels:

PPResistance*1784.98 *1791.14 **1801.78 ***
1774.34Support*1768.18 *1757.54 **1751.38 ***

Position Datas:

Ready to trade?

Get started with your RedstoneFX account today.

Easy funding & withdrawals

No deposit fees^