Daily Market Report: April 13, 2021
Today’s events & figures – Trade what you know Financial markets feed into world events and are their direct consequence. Keep a daily eye on our roundup of the day’s news, numbers and announcements.
April 13, 2021
Stocks Mixed Ahead of Key Inflation Report
Last: 33.00
Pivot: 33.00
Review:
US stocks were mixed after the close on Monday, as gains in the Consumer Goods, Industrials and Financials sectors led shares higher while losses in the Oil & Gas, Technology and Healthcare sectors held shares back. At the close in NYSE, the Dow Jones Industrial Average declined by 0.16%, while the S&P 500 index added a minute 0.01%, and the NASDAQ Composite index fell 0.36%.
Technical comment:
The RSI is bullish and calls for further upside.
Preference scenario:
Long positions above 33,580.00, with targets at 33,830.00 & 34,100.00 in extension.
Alternative scenario:
Below 33,580.00, look for further downside with 33,470.00 & 33,340.00 as targets.
| Resistance | 33.00 | 34.00 | 34.00 |
| Support | 33.00 | 33.00 | 33.00 |
Last: 1.2561
Pivot: 1.2532
Review:
The USD/CAD exchange rate traded slightly lower, closing at 1.2561
Technical comment:
The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50-period moving averages (respectively at 1.2552 and 1.2549).
Preference scenario:
The upside prevails as long as 1.2532 remains support.
Alternative scenario:
The downside breakout of 1.2532 would call for 1.2499 and 1.2480 in extension.
| Resistance | 1.2602 | 1.2622 | 1.2641 |
| Support | 1.2532 | 1.2499 | 1.2480 |
Last: 1.00
Pivot: 1.00
Review:
Gold prices fell for a second straight day on Monday, remaining stuck under the critical $1,750 per ounce level despite a sluggish Dollar and marginal advances in US bond yields.
Technical comment:
The RSI is mixed with a bearish bias.
Preference scenario:
Short positions below 1,739.00, with targets at 1,724.00 & 1,715.00 in extension.
Alternative scenario:
Above 1,739.00, look for further upside with 1,745.00 & 1,749.00 as targets.
| Resistance | 1.00 | 1.00 | 1.00 |
| Support | 1.00 | 1.00 | 1.00 |
Last: 59.69
Pivot: 60.00
Review:
Oil prices rose on Monday as geopolitical risk was once again injected into prices, this time in the form of increasing tensions in the Persian Gulf.
Technical comment:
The RSI is mixed to bearish.
Preference scenario:
Short positions below 60.00, with targets at 59.23 & 58.80 in extension.
Alternative scenario:
Above 60.00, look for further upside with 60.76 & 61.60 as targets.
| Resistance | 60.00 | 60.76 | 61.60 |
| Support | 59.23 | 58.80 | 58.00 |
Last: 1.1914
Pivot: 1.1890
Review:
The EUR/USD currency pair traded very slightly lower on Monday, closing at 1.1914.
Technical comment:
The RSI calls for a new up leg.
Preference scenario:
Long positions above 1.1890, with targets at 1.1940 & 1.1960 in extension.
Alternative scenario:
Below 1.1890, look for further downside with 1.1870 & 1.1850 as targets.
| Resistance | 1.1940 | 1.1960 | 1.1990 |
| Support | 1.1890 | 1.1870 | 1.1850 |
Last: 1.3754
Pivot: 1.3710
Review:
The GBP/USD exchange rate attempted a rebound as the UK economy continues to reopen.
Technical comment:
The RSI is bullish and calls for further upside.
Preference scenario:
Long positions above 1.3710, with targets at 1.3775 & 1.3810 in extension.
Alternative scenario:
Below 1.3710, look for further downside with 1.3690 & 1.3670 as targets.
| Resistance | 1.3775 | 1.3810 | 1.3840 |
| Support | 1.3710 | 1.3690 | 1.3670 |
Customer Notice: The charts are provided by Trading Central, which is a respected third party research provider. The information provided should not be considered as trading or investment advice. Trade360 provides Trading Central chart analysis to support clients in their trading decisions, which should be independently evaluated. The recipient acknowledges that he is solely responsible for his decisions. The analysis offered reflects the views of Trading Central and are subject to change at any time. Past performance of a financial asset is not a reliable indicator of its future performance. Trade360 cannot be held liable for any information provided by Trading Central. Trade360 makes no representation and assumes no liability as to the accuracy or completeness of the information provided nor any loss arising from any investment based on this material, forecast or other information supplied by an employee of Trade360, a third party or otherwise.
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