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 15th JUNE 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

Wall Street remains in a firm uptrend, pressing to new highs well above the VWAP with price tracking the upper Bollinger Band. The RSI at 62 reflects solid bullish momentum without yet reaching overbought territory. The ascending support trendline continues to underpin the move, and the bias stays constructive while price holds above it.

Germany 40

The Germany 40 is consolidating around the VWAP after recovering sharply from the April lows, with price caught between a descending resistance trendline above and an ascending support trendline below. The RSI at 54 is neutral. The direction of the eventual breakout from this narrowing structure will be significant for the weeks ahead.

UK 100

The UK 100 is testing descending trendline resistance from below, having recovered from recent lows back above the VWAP. The RSI is neutral. The broader tone has improved marginally, but a confirmed close above the descending trendline is needed to shift the bias higher; a failure here would risk a return to the lower support band.

GBP/USD

GBP/USD is trading around the VWAP as it continues a multi-month range after the February peak, with price compressing between 1.33 and 1.35. The RSI at 51 is neutral keeping the near-term bias subdued. A reclaim of the 1.35 level would be the key signal for a recovery; a break below support would extend the downside toward 1.32.

EUR/USD

EUR/USD has rebounded back to the VWAP, continuing its downward drift while remaining above the March low, with a descending trendline continuing to cap the upside. Price is attempting to stabilise near the 1.15 level, with the RSI at 49 reflecting balanced but slightly bearish conditions. A hold at support could trigger a bounce; a break below it would open the way toward 1.14.

USD/JPY

USD/JPY is in a clear uptrend, trading above the VWAP with the ascending support trendline underpinning the move. Price is pressing toward the flat horizontal resistance that has capped prior advances near the big 160 level, with the RSI at 58 leaving room for further upside. A sustained break above that resistance would be a significant bullish development.

Gold

Gold is attempting to stabilise above $4000 after its sharp decline from record highs, with price trading around the VWAP but the descending trendline continuing to provide overhead resistance. The RSI at 46 reflects bearish momentum that has not yet turned constructively. The March low remains critical support; another break below it would signal a more significant leg lower.

Brent Crude

Brent Crude is in an accelerating downtrend, with price well below the VWAP and the RSI at 31 approaching oversold territory. Selling pressure has been persistent and the dominant trend remains bearish. While a technical bounce is possible from current levels, the VWAP represents the key overhead barrier that would need to be reclaimed to shift the bias.