Pre EU Open: Daily Technical Analysis
Tuesday, July 21, 2026
Get the latest technical market scenarios from Trading Central ahead of the European trading session. This update highlights key intraday levels, preferred scenarios and alternative price movements across major forex pairs, commodities and indices.
Markets covered: EUR/USD, WTI Oil, Gold, GBP/USD, USD/JPY, EUR/GBP, S&P 500 CME, DAX Eurex and FTSE 100 ICE Europe.
Please note: markets can move quickly. Some key levels may already have been reached, and certain scenarios may already have played out by the time this analysis is reviewed.
Markets covered: EUR/USD, WTI Oil, Gold, GBP/USD, USD/JPY, EUR/GBP, S&P 500 CME, DAX Eurex and FTSE 100 ICE Europe.
Please note: markets can move quickly. Some key levels may already have been reached, and certain scenarios may already have played out by the time this analysis is reviewed.
Technical Analysis Summary
Market Comments
EUR/USD remains under pressure while 1.1435 acts as key resistance. As long as this level is not broken, the probability of a move below 1.1400 remains elevated.
WTI Oil shows a positive intraday structure above 81.10. RSI is mixed but slightly bullish, supporting the possibility of a move towards 83.30 and 84.35.
Gold continues to point higher above 4028. A break above this level is a positive signal and may open the way towards 4100.
GBP/USD remains capped by the 1.3455 resistance level. Upside potential may remain limited while the pair trades below this area.
USD/JPY shows a bullish setup above 162.30. RSI has reached the neutral 50 area and is moving higher, supporting the possibility of further upside.
EUR/GBP remains bearish below 0.8508. RSI is below the neutral 50 area, while MACD is below its signal line and negative. The pair is also trading below its 20-day and 50-day moving averages.
S&P 500 CME is reversing upward while holding above 7474. RSI indicates a rebound, supporting the possibility of a move towards 7550 and 7575.
DAX Eurex remains fragile below 25055. As long as this level acts as resistance, the short-term downside bias remains active.
FTSE 100 stays under pressure below 10555. RSI momentum remains weak, supporting the bearish short-term view.
WTI Oil shows a positive intraday structure above 81.10. RSI is mixed but slightly bullish, supporting the possibility of a move towards 83.30 and 84.35.
Gold continues to point higher above 4028. A break above this level is a positive signal and may open the way towards 4100.
GBP/USD remains capped by the 1.3455 resistance level. Upside potential may remain limited while the pair trades below this area.
USD/JPY shows a bullish setup above 162.30. RSI has reached the neutral 50 area and is moving higher, supporting the possibility of further upside.
EUR/GBP remains bearish below 0.8508. RSI is below the neutral 50 area, while MACD is below its signal line and negative. The pair is also trading below its 20-day and 50-day moving averages.
S&P 500 CME is reversing upward while holding above 7474. RSI indicates a rebound, supporting the possibility of a move towards 7550 and 7575.
DAX Eurex remains fragile below 25055. As long as this level acts as resistance, the short-term downside bias remains active.
FTSE 100 stays under pressure below 10555. RSI momentum remains weak, supporting the bearish short-term view.
Risk Warning
This content is provided for informational purposes only and does not constitute investment advice, a personal recommendation or an offer to buy or sell any financial instrument. Trading CFDs and other leveraged products involves significant risk and may not be suitable for all investors. Market conditions can change quickly, and past price behaviour does not guarantee future results.
