Check out our FAQ page here for questions about the unavailability of MT4/MT5 on the Apple App store. Read More

Technical analysis report 04-08-2022

4 Aug 2022 02:15 PM

EUR/USD is edging lower and the MACD indicator shows that momentum is negative, implying the sellers are dominant. A decline might see it find support at 1.0095 or 1.0027.  A rally from here could see it target 1.0293 or 1.0324.

GBP/USD has pulled back from its five-week high, and RSI is moving lower, suggesting the price bias is to the downside. 1.2000 or 1.1960 could provide support. A break above 1.2214 could bring 1.2292 into play.

EUR/GBP has surged, positive momentum is increasing, and RSI is rising, this underlines the bullish move. If the uptrend continues, resistance might be found at 0.8454 or 0.8523. Should the wider bearish trend continue, it could retest 0.8339 or 0.8310.

USD/JPY has rebounded from an eight-week low, and RSI is moving higher, suggesting the price bias is to the upside. 134.59 or 135.74 might act as resistance. If the wider bearish move continues, it could hit 132.95 or 132.20.

Gold is trending higher, and momentum has turned positive, implying the bulls are back in control. If the rally continues, it might target 1800 or 1811. A pullback could retest 1753 or 1736.

Silver is pushing higher and so is the RSI, and that implies the price bias is to the upside. 21.04 or 22.52 might act as resistance.

WTI is in a downtrend and RSI is in decline, suggesting the price bias is to the downside.  If the bearish move continues, 90.00 or 88.31 could act as support. Resistance might be found at 94.09 or 95.85.

The FTSE 100 has hit a new eight-week high and positive momentum is increasing, suggesting the bulls are gaining even more influence.  If the uptrend continues, it might target 7500 or 7574.  A fall might find support at 7416 or 7368.

Tags:

Prices may be delayed by 5 seconds. Prices above are subject to our website terms and conditions. Prices are indicative only