Technical Analysis Weekly

Start your week by identifying the key price levels and trends.

The SpreadEx Research team has analysed the most popular markets, including stocks, indices, commodities & forex.

NOTE: These charts use the ‘Pro Trading Tools’ available on the SpreadEx trading platform. To use them, log in to your SpreadEx Financials Account and click ‘Technical’ from the menu on any chart.

WEEK COMMENCING 7TH APRIL 2025

Summary

*KEY

Trend is set by the slope of the VWAP over 50 periods

Phase is determined by the current price relative to the VWAP (20) level (above or below)

Support & Resistance are set by the StdDev #2 Lower and Upper respectively.

Momentum is determined by the RSI level (70 as overbought and under 30 as oversold).

Analysis

Germany 40 

Germany 40 has decisively shifted into a bear market. It trades at 19,826, well below its 20-day VWAP of 22,358. The RSI has plunged to 24.2, indicating oversold conditions and continued downward pressure. Immediate support at 20,083 has already been taken out, while a move above resistance at 24,633 would be needed to signal any meaningful recovery.

UK 100

UK 100 is now well into a bearish trend, breaking down from its prior consolidation. The index trades at 7,761, well under the 20-day VWAP of 8,534. RSI stands at 16.8, deeply oversold, reflecting strong bearish momentum. Support is marked at 7,910, with resistance far above at 9,158.

Wall Street 

Wall Street remains in a strong bearish trend, continuing its impulsive decline. It currently trades at 37,632, far beneath its 20-day VWAP of 41,310. The RSI is at 25.9, confirming oversold status. Key support sits at 37,996, while initial resistance is now at 44,624, a long way off.

Brent Crude

Brent Crude has entered an impulsive bearish phase, with price collapsing to 6,403—sharply below the VWAP of 7,108. The RSI has dropped to 27.6, pointing to newly oversold territory that supports the bearish momentum. Immediate support lies at 6,477, and any upside attempts face resistance near 7,739.

Gold 

Gold remains bullish overall but is undergoing a pullback. Price is now at 3,040, right on its 20-day VWAP of 3,041. The RSI at 52.7 suggests stabilisation, but with lessened momentum. Support is seen at 2,958, with resistance near the previous high at 3,138.

EUR/USD 

EUR/USD holds its bullish bias but is in a corrective dip, trading at 1.096, slightly above its 20-day VWAP of 1.0866. RSI reads a constructive 61.0 but showing bearish divergence across the last two peaks. Support is nearby at 1.0705, while resistance is seen at 1.1028 for continuation.

GBP/USD 

GBP/USD has tilted into consolidation mode after a sharp weekly reversal that could lead to full trend reversal, now trading at 1.283, just below its 20-day VWAP of 1.2945. The RSI of 45.1 reflects waning momentum. Key support is located at 1.2829, and resistance stands at 1.3066 to revive the bullish tone.

USD/JPY 

USD/JPY remains bearish and is in a short-term corrective bounce off the lows, currently at 146.22 and below its VWAP of 148.87. RSI at 39.2 is weak but not oversold. Support is pegged at 145.59, with resistance coming in at 152.15 should sentiment shift.