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Technical analysis report 16-09-2022

16 Sep 2022 12:28 PM

EUR/USD is trending lower, and momentum is in negative territory, suggesting the bears are in control. If the downtrend continues, it might target 0.9954 or 0.9930. RSI is edging higher, implying the price bias is to the upside, resistance might be encountered at 1.0000 or 1.0038.

GBP/USD fell to a 37-year low, and momentum is in negative territory, suggesting the sellers are in control. If the negative trend continues, it might target 1.1300 or 1.1200. A rally from here might encounter resistance at 1.1429 or 1.1451.

USD/JPY has pulled back from the 24-year high posted last week, but the long-term uptrend is intact. A rally from here, could see it hit 144.00 or 145.00. The RSI is dropping and that speaks to bearish sentiment. Support might be found at 142.00 or 141.59.

The S&P 500 fell to a two-month low, and momentum is in negative territory, suggesting the sellers are in control. Should the down trend continue, it might find support at 3852 or 3817. The RSI is oversold, implying the sell off is overstretched, a rally might target 3887 or 3900.

WTI is trending lower, momentum is negative, and the RSI is falling, both speak to bearish sentiment. A fall from here could bring 84.00 or 83.00 into play. If the medium-term bullish move continues, it might 85.81 or 86.70.

Gold fell to a two-year low, the MACD indicator shows us that momentum is negative, implying the sellers are dominating. Further declines from here could target 1650 or 1640. The RSI is oversold, implying the sell off is overstretched, a rally might hit 1671 or 1680.

Silver is trending lower, the RSI is falling the momentum is negative, implying bearish sentiment. A fall from here could see it target 18.56 or 18.00. If the medium-term uptrend continues, it might encounter resistance at 19.19 or 20.00.

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