Technical Analysis Weekly (02-06-26)Germany 40, DailySPREADEX:GDAXISpreadexWall Street Wall Street is pushing into new all-time high territory, extending the bullish breakout above the descending trendline that had capped the market since the February highs. Price is trading well above the VWAP and momentum remains firmly with the bulls. RSI is elevated but not yet overbought. The former resistance level is now the key support to hold on any pullback. Germany 40 The Germany 40 has pulled back from flat/descending trendline resistance - setting up a possible breakout on the next attempt. Momentum remains strong and the index is comfortably above flat/rising support under 24K. A sustained close above that ceiling would open the door to fresh record highs. UK 100 The UK 100 remains in a neutral sideways range, with price broadly in line with the VWAP and RSI at a neutral level. The descending upper trendline continues to cap upside while the ascending lower trendline limits the downside. A decisive break in either direction is needed to shift the bias. GBP/USD GBP/USD is in a neutral range, consolidating within a converging triangle as price and VWAP remain closely aligned. RSI is neutral, reflecting the lack of directional conviction. The narrowing range points toward a breakout resolution — another close above the descending trendline would be bullish, while a break of ascending support would reassert downside pressure. EUR/USD EUR/USD is in a neutral range, trading within a tightening triangle between the descending upper trendline and the ascending lower support. RSI carries a mild bearish tilt. The pair is at a decision point since a break above the descending trendline would be a significant bullish development, while a failure of ascending support would put the March lows back in focus. USD/JPY USD/JPY is in a neutral range but with a building bullish bias, trading above the VWAP and pressing toward the flat upper resistance. RSI reflects solid momentum. A sustained break above that resistance would confirm the next leg higher, while the ascending support trendline remains the key downside reference. Gold Gold remains in a gradual bearish correction, trading below the VWAP within a tight down sloping channel. RSI reflects continued corrective pressure. The broken ascending lower trendline adds a bearish bias. A recovery above the VWAP and descending trendline would be needed to restore a bullish bias. Brent Crude Brent Crude has deteriorated towards the bottom end of its months-long trading range, trading well below the VWAP after breaking under rising trendline support. RSI reflects sustained selling pressure. The April low is the key downside reference, while the VWAP then the flat upper resistance both represent significant overhead barriers to any recovery.