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 22ND 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 continues to hold its bullish structure, with price tracking above the VWAP while breaking to a fresh record high. The RSI at 59 reflects steady bullish momentum without yet approaching overbought territory. The trend remains constructive, and the bias stays higher while price maintains its footing above the rising trendline.

Germany 40

The Germany 40 is above the VWAP and is consolidating just below the descending trendline from recent highs. The RSI at 56 is mildly elevated but does not yet signal a clear directional impulse. The ascending support trendline from the April lows remains the key level to watch on the downside, and the overall bias is bullish but stays near term neutral until a decisive break in either direction.

UK 100

The UK 100 was edging below the VWAP but lept back over it on Monday. However, it is stalling just beneath the flat horizontal resistance that has capped advances in recent weeks. The RSI at 52 is neutral and offers little directional conviction. The near-term bias remains cautious while price trades between support and resistance; a sustained close above the horizontal level would be needed to reassert a bullish tone.

GBP/USD

GBP/USD has broken below the VWAP and is in an impulsive bearish phase, with price now probing the April lows. The RSI at 40 reflects building bearish momentum, though it remains above oversold territory. The bias is now to the downside while price holds below the VWAP, with 1.32 the primary target for bears.

EUR/USD

EUR/USD is back at its lowest levels since March after it extended its decline below the VWAP, with price continuing to press lower and the RSI at 32 approaching oversold territory. The descending trendline continues to cap any recovery attempts. A break of the 1.14 support level would open the way toward a fresh long term downtrend, while a bounce from here could attract some tactical buying.

USD/JPY

USD/JPY has broken above longstanding horizontal resistance near 161 and is pushing to fresh highs, with price now well above the VWAP and the RSI at 74 in overbought territory. The ascending support trendline from the May lows continues to underpin the move. The breakout above resistance is a significant bullish development, though the extended RSI reading warns that a short-term pause or pullback toward the VWAP may be due.

Gold

Gold remains in a corrective bearish phase, trading below the VWAP with the descending trendline providing a persistent cap on rallies. The RSI at 40 reflects continued negative momentum without yet reaching oversold levels. The key support level near the big $4K figure is the critical level to hold; a breach there would signal a more significant deterioration in the technical picture.

Brent Crude

Brent Crude is now in a sustained impulsive downtrend, with price trading far below the VWAP and the RSI at 30 on the cusp of oversold territory. Selling pressure has been persistent and the dominant directional bias remains firmly bearish. Any near-term bounce from the oversold extreme is likely to find the VWAP as a significant overhead barrier before the broader downtrend can be meaningfully challenged.