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 16th 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 remains in a bearish correction phase, trading significantly below its VWAP with no clear sign of stabilisation. RSI has recovered slightly from deeply oversold levels but remains weak, and price continues to hover near the lower boundary of its volatility bands, suggesting the path of least resistance is still lower.

Germany 40 is in a bearish correction phase, having pulled back sharply from its recent highs and falling well below the VWAP. Price is attempting to stabilise near the lower standard deviation band, but RSI remains subdued in the mid-30s, indicating that sellers retain the upper hand and any recovery could face significant overhead resistance.

UK 100 is in a bearish correction phase, having pulled back from its highs and trading below the VWAP. While RSI has bounced off recent lows and is recovering toward the midpoint, price action remains subdued, with the index consolidating in the lower half of its volatility range as it searches for a base.

GBP/USD remains in a bearish near term trend within its broader sideways range, trading below the VWAP as it consolidates its recent losses. RSI has recovered from oversold levels into the low 40s, suggesting some stabilisation, though the pair remains vulnerable to further weakness while it holds beneath the VWAP.

EUR/USD remains in a bearish impulsive phase, extending its decline below the VWAP as momentum continues to deteriorate. RSI is holding in oversold territory, reflecting persistent selling pressure, with price testing key long-term support levels as the pair looks increasingly stretched to the downside.

USD/JPY continues in its bullish trend and is in a pullback phase, with price holding above the VWAP after a brief dip lower. RSI is strengthening in the low 60s, and price is pushing toward the upper resistance band, suggesting the broader uptrend remains intact and a test of 160 is plausible in the near term.

Gold remains in a broader bullish trend but has entered a corrective phase, pulling back below the VWAP after failing to sustain its early-year highs. RSI has eased to the mid-40s, reflecting fading momentum, with price consolidating within a narrowing structure as the metal awaits a directional catalyst.

Brent Crude remains in a powerful bullish impulsive phase, trading well above its VWAP following a significant breakout. RSI has eased from extreme overbought levels toward 70 as the market digests recent gains, though the trend remains firmly upward with price holding near the top of its volatility range.