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 27th APRIL 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 is still technically inside its range, below all time highs but trading strongly above the VWAP. The RSI at 61 reflects solid momentum, and the long-term ascending support trendline underpins the broader structure. A convincing break and hold above resistance from the ATH and 50,000 would mark a significant shift.

Germany 40

The Germany 40 is in a neutral range, pulling back from its recent highs and slipping below the VWAP. Price is now consolidating within the descending trendline channel from the February highs, with the RSI at 54 reflecting fading momentum. The ascending support trendline from the March lows provides the key downside reference, while the upper descending trendline continues to cap recovery attempts.

UK 100

The UK 100 is in a range, pulling back below the VWAP after failing to sustain the break above the descending trendline from the March highs. The RSI has fallen to the low 40s, reflecting renewed selling pressure. The long-term ascending support trendline continues to provide a floor, and a break back above the descending trendline remains the key requirement to re-establish the bullish case.

GBP/USD

GBP/USD is in a bullish phase within the longstanding range, trading above the VWAP and holding above the descending trendline from the February highs. Price is consolidating near the upper resistance band at 1.3662, and the RSI at 59 remains supportive of further upside. A sustained break above the upper band would put meaningful pressure on the broader bearish structure.

EUR/USD

EUR/USD is in a range phase, with price and VWAP converging near 1.1705 as the pair consolidates between the descending trendline resistance above and the ascending support trendline below. The RSI at 55 is neutral, consistent with the indecisive price action. A break above the descending trendline near 1.19 would be decisively bullish; a failure of the ascending support near 1.1554 would reassert the downtrend.

USD/JPY

USD/JPY remains bullish overall, while stuck in a tight consolidation between the flat horizontal resistance near 159.95 above and the ascending support trendline near 158.46 below. Price and VWAP remain closely aligned around 159, with the RSI at 52 reflecting neutral momentum. A break above the horizontal resistance would be a significant bullish development, while a failure of the ascending support would shift the near-term bias lower.

Gold

Gold is still stuck in the broader range created by its drop from record highs. Price is pulling back slightly below the VWAP as it consolidates within the descending trendline channel from the February highs and the descending trendline acting as resistance near the upper band at 4,864. While the RSI at 45 reflects modest bearish bias, the long-term ascending support trendline from late 2025 continues to underpin price action.

Brent Crude

Brent Crude is in a correction that has broadened out into a trading range, recently recovering above the VWAP and pushing toward the descending upper trendline resistance near 10,819. The RSI at 57 reflects improving momentum after the recent bounce off the ascending lower support trendline. Price remains within the triangle structure, and a break above the descending upper trendline would be a meaningful bullish signal targeting a retest of the highs above 11,000.