Weekly Technical Analysis 11/12/2023
Start your week by identifying the key price levels and trends.
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The SpreadEx Research team has analysed the most popular markets, including stocks, indices, commodities & forex.
EUR/USD
- Trend: Bearish, with downward fractals.
- Candle Patterns: A 'Spinning Top' suggests indecision.
- Support/Resistance: Support at 1.0720, resistance at 1.0876.
- RSI: 43, indicating bearish momentum.
GBP/USD
- Trend: Neutral to slightly bearish.
- Candle Patterns: A 'Harami' may signal trend reversal.
- Support/Resistance: Support at 1.2438, resistance at 1.2738.
- RSI: 53, suggesting potential momentum change.
Germany 40
- Trend: Strongly bullish.
- Candle Patterns: 'Engulfing' pattern indicates buying pressure.
- Support/Resistance: Support at 15,621, resistance at 16,921.
- RSI: 82, signalling overbought conditions.
Gold
- Trend: Neutral as price approaches VWAP.
- Candle Patterns: 'Shooting Star' hints at bearish reversal.
- Support/Resistance: Support at 1952, resistance at 2034.
- RSI: 47, leaning towards bearish momentum.
Brent Crude Oil
- Trend: Bearish below VWAP.
- Candle Patterns: 'Piercing Line' suggests potential trend reversal.
- Support/Resistance: Support at 7400, resistance at 7930.
- RSI: 38, approaching oversold conditions.
UK 100
- Trend: Bullish above VWAP.
- Candle Patterns: 'Engulfing' supports bullish continuation.
- Support/Resistance: Support at 7413, resistance at 7557.
- RSI: 56, indicating stable bullish momentum.
USD/JPY
- Trend: Bearish below VWAP.
- Candle Patterns: 'Harami Cross' suggests uncertainty.
- Support/Resistance: Support at 144.2, resistance at 147.5.
- RSI: 42, suggesting a bearish outlook.
Wall Street Index
- Trend: Bullish above VWAP.
- Candle Patterns: 'Harami' may indicate trend hesitation.
- Support/Resistance: Support at 34,770, resistance at 36,650.
- RSI: 76, indicative of overbought conditions.
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The SpreadEx Research team has analysed the most popular markets, including stocks, indices, commodities & forex.
EUR/USD
- Trend: Bearish, with downward fractals.
- Candle Patterns: A 'Spinning Top' suggests indecision.
- Support/Resistance: Support at 1.0720, resistance at 1.0876.
- RSI: 43, indicating bearish momentum.
GBP/USD
- Trend: Neutral to slightly bearish.
- Candle Patterns: A 'Harami' may signal trend reversal.
- Support/Resistance: Support at 1.2438, resistance at 1.2738.
- RSI: 53, suggesting potential momentum change.
Germany 40
- Trend: Strongly bullish.
- Candle Patterns: 'Engulfing' pattern indicates buying pressure.
- Support/Resistance: Support at 15,621, resistance at 16,921.
- RSI: 82, signalling overbought conditions.
Gold
- Trend: Neutral as price approaches VWAP.
- Candle Patterns: 'Shooting Star' hints at bearish reversal.
- Support/Resistance: Support at 1952, resistance at 2034.
- RSI: 47, leaning towards bearish momentum.
Brent Crude Oil
- Trend: Bearish below VWAP.
- Candle Patterns: 'Piercing Line' suggests potential trend reversal.
- Support/Resistance: Support at 7400, resistance at 7930.
- RSI: 38, approaching oversold conditions.
UK 100
- Trend: Bullish above VWAP.
- Candle Patterns: 'Engulfing' supports bullish continuation.
- Support/Resistance: Support at 7413, resistance at 7557.
- RSI: 56, indicating stable bullish momentum.
USD/JPY
- Trend: Bearish below VWAP.
- Candle Patterns: 'Harami Cross' suggests uncertainty.
- Support/Resistance: Support at 144.2, resistance at 147.5.
- RSI: 42, suggesting a bearish outlook.
Wall Street Index
- Trend: Bullish above VWAP.
- Candle Patterns: 'Harami' may indicate trend hesitation.
- Support/Resistance: Support at 34,770, resistance at 36,650.
- RSI: 76, indicative of overbought conditions.
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