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

Dow Jones

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
Stocks Mixed Ahead of Key Inflation Report
USD/CAD

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
Stocks Mixed Ahead of Key Inflation Report
Gold

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
Stocks Mixed Ahead of Key Inflation Report
Oil

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
Stocks Mixed Ahead of Key Inflation Report
EUR/USD

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
Stocks Mixed Ahead of Key Inflation Report
GBP/USD

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
Stocks Mixed Ahead of Key Inflation Report

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