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Technical analysis report 23-09-2022

23 Sep 2022 12:41 PM

EUR/USD fell a new 20-year low and if the wider bearish move continues it could target 0.9700 or 0.9600. RSI has moved into negative territory and that could be a sign the sell is overstretched. A rebound from here might run into resistance at 0.9813 or 0.9900.

GBP/USD is in a downtrend, negative momentum is rising, implying the sellers are in control. If the wider bearish move continues, it might find support at 1.1000 or 1.0900. RSI has fallen into negative territory and that could be a sign the sell off is overdone, a rally might hit 1.1132 or 1.1400.

The medium-term trend for USD/JPY is lower and if the bearish move continues, it might fall to 141.75 or 140.71. The short-term trend is higher, the RSI is rising and negative momentum is in decline, this implies a bullish move. Resistance might be encountered at 143.38 or 144.00.

The Dow Jones fell to a new two-month low, and if the longer-term downtrend continues, it might find support at 29420 or 29300. The RSI is close to being oversold, so that could be a sign that a rebound is in the offing. A rally from here could see it target 30000 or 30299.

WTI is trending lower and it fell to a new eight-month low. Momentum is in negative territory and that implies the sellers are dominant. Should the wider bearish move continue, it could find support at 80.00 or 79.00. Should WTI rally from here, it might hit 81.90 or 82.43.

Gold dropped to a fresh two-year low and negative momentum is rising, which suggest the bears are in control. If gold continues to fall, it might target 1630 or 1620. The RSI is close to being oversold, so that could be a sign that a rebound is in the offing. A bounce back might hit 1658 or 1668.

Silver is moving lower, momentum has turned negative, and the RSI is falling, this implies bearish sentiment. A fall from here could see it target 18.79 or 18.00. The longer-term is higher and should that resume, it might hit 19.41 or 20.00.

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