RedstoneFx Analyst
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Redstone Morning Analysis 29/4/2021

EUR/USD

Trend Theme:EUR/USD: Refreshes two-month high, bulls keep reins above 1.2100.

Trend Review:EUR/USD stays bid near the multi-day high, prints three-day winning streak. Clear break of yearly resistance line, 61.8% Fibonacci retracement back the bulls. Three-month-old horizontal area lure buyers, 100-day SMA adds to the downside filters.

Today Advise:Bullish

Key Levels:

PPResistance*1.2156 *1.2185 **1.2234 ***
1.2106Support*1.2077 *1.2028 **1.1999 ***

Position Datas:

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AUD/USD

Trend Theme:AUD/USD: Post-Fed rally fizzles around 0.7800, Biden, second-tier Aussie data eyed.

Trend Review: AUD/USD struggles to keep the latest gains, wobbles in a choppy range. Fed widely matched status-quo expectations, Powell rejects talking about tapering. Aussie Q1 CPI, pre-Fed sentiment weighed down the quote before recovery.

Today Advise:Bullish

Key Levels:

PPResistance*0.7820 *0.7850 **0.7897 ***
0.7772Support*0.7742 *0.7695 **0.7665 ***

Position Datas:

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WTI/USD

Trend Theme:WTI bulls back in charge but bears lurking at resistance.

Trend Review:Oil bulls could be running out of steam soon. Refiners also ramped up activity to the highest in over a year, boosting hopes for rising fuel demand in the world’s top oil consumer. Meanwhile, the Federal Reserve was a distraction for the New York afternoon before WTI ended near 0.90% higher following a rally from the low of $62.70 to a high of $64.49.

Today Advise:Bullish

Key Levels:

PPResistance*64.49 *65.39 **66.33 ***
63.56Support*62.66 *61.72 **60.82 ***

Position Datas:

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XAUUSD

Trend Theme:Gold refreshes weekly high above $1,780 on Biden’s ‘Joint Congress’ speech.

Trend Review:Gold is on the bids and refreshes weekly top as US President Biden addresses Congress for the first time. Biden pushes for stimulus, sounds stronger than earlier on China, Russia. Risk-on mood extends amid a light calendar in Asia.

Today Advise:Bullish

Key Levels:

PPResistance*1788.57 *1795.56 **1808.48 ***
1775.65Support*1768.66 *1755.74 **1748.75 ***

Position Datas:

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