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 2nd march 2026

Summary

*KEY*

• Price and 20-day VWAP at the time of writing.
• RSI level (70 is overbought and under 30 is oversold).
• Support & Resistance are set by the StdDev #2 Lower and Upper respectively.
• 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.

Analysis

Wall Street has entered a correction phase, trading below its short-term VWAP despite the broader bullish trend. Momentum has cooled significantly, with indicators suggesting the index is searching for a floor near the lower boundary of its volatility bands.

Germany 40 is currently range-bound, oscillating within a sideways trend. Price action is trading slightly below the VWAP, reflecting neutral momentum as the index continues to consolidate between established support and resistance levels.

UK 100 remains in a strong bullish trend but has entered a pullback phase. While it maintains its position above the VWAP, momentum is reaching elevated levels, suggesting the index is testing the upper limits of its current impulsive move.

GBP/USD has shifted into a bearish trend, with price action moving impulsively to the downside. The pair is trading well below its VWAP, and momentum indicators suggest heavy selling pressure as it approaches significant support levels.

EUR/USD is currently stuck in a sideways range, trading below its 20-day VWAP. Momentum is relatively weak, with the pair showing signs of consolidation as it tests the lower half of its current trading channel.

USD/JPY is positioned in the upper portion of its current sideways range. While the broader trend is neutral, short-term momentum is positive, with the price holding above the VWAP and trending toward the upper resistance ceiling.

Gold is in a powerful impulsive phase, trading significantly above its VWAP and appears on course to test record highs. Bullish momentum is strong, pushing the price toward the top of its standard deviation bands as the metal continues its upward trajectory.

Brent Crude has seen an aggressive breakout and is trading in a highly impulsive bullish phase. While the trend is strongly upward, momentum indicators have entered overbought territory, suggesting the market is significantly stretched relative to its mean.