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Technical analysis report 05-10-2022

5 Oct 2022 01:03 PM

EUR/USD is trending higher, and if the positive move continues, it could target 1.0000 or 1.0049. The RSI is moving lower, and positive momentum is fading, this speaks to bearish sentiment. A fall from here could see it target 0.9852 or 0.9800.

Yesterday, GBP/USD hit its highest mark in over one week. If the rally continues, 1.1494 or 1.1589 could act as resistance. The RSI is falling, and momentum has turned negative, and that suggests that sentiment is downbeat, support might be found at 1.1279 or 1.1200.

USD/JPY is edging higher and if the rally continues, it could target 144.92 or 145.30. Momentum is in negative territory and the RSI is trending lower, and that implies bearish sentiment. Support might be found at 143.51 or 143.00.

The Dow Jones is in an upward trend and if the bullish run continues, it might target 30344 or 31021. The RSI is moving lower, and positive momentum is fading, this speaks to bearish sentiment. A fall from here could see it target 29819 or 29543.

WTI is trending higher, and momentum is positive, implying bullish sentiment. A rally from here could see it target 87.68 or 89.63. The RSI is overbought so that could be a warning the rally is overstretched. A fall from here could see it find support at 84.49 or 83.42.

Yesterday, gold hit a three-week high and if the rally continues, it could target 1718 or 1729. The RSI is moving lower, and positive momentum is fading, this speaks to downbeat sentiment. Support might be found at 1700 or 1695.

Silver pulled back from the three-month high that is posted yesterday. Resistance might be found at 20.69 or 21.23. The RSI is moving lower, and momentum has turned negative, this speaks to downbeat sentiment. Support might be found at 20.00 or 19.00.

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