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Technical analysis report 27-09-2022

27 Sep 2022 12:03 PM

EUR/USD fell a new 20-year low yesterday and if the wider bearish move continues it could target 0.9583 or 0.9549. Momentum has turned positive, and the RSI is no longer oversold, and that speaks to a bullish mood. If the near-term uptrend continues, it might target 0.9700 or 0.9740.

GBP/USD printed a new record low yesterday. If the wider bearish trend continues, it might target 1.0648 or 1.0600. The RSI is no longer in oversold territory and that suggests the selling pressure has dropped. If the near-term rebound continues, it might hit 1.0929 or 1.1000.

USD/JPY is rallying once again, the RSI is moving higher. If the currency pair continues to rally, 145.00 or 145.89 might act as resistance. Positive momentum is fading, and that could be a sign the bulls are running out of steam. A fall from here could find support at 143.17 or 142.72.

The Dow Jones fell to a 21-month low yesterday, and if the wider bearish move continues it could target 29237 or 29159. The RSI is moving higher, and momentum is now positive, implying the buyers are in control. A rally from here could see it hit 29721 or 30081.

WTI is trending lower and yesterday it fell to an eight-month low. Should the longer-term negative move continue, it could target 76.64 or 76.06. The RSI is no longer in oversold territory and that suggests the selling pressure has cooled. If the short-term rally continues it might hit 80.00 or 81.00.

Gold tumbled to a new two-year low yesterday, momentum is negative and that suggests the sellers are in control. Further losses from here could see it target 1630 or 1620. The RSI has rebounded a little, and so that could be a sign a change in trend is in the offing. Resistance might be found at 1649 or 1659.

Silver is moving lower, and if the bearish move continues it could target 18.31 or 18.14. The short-term trend is higher, the RSI is rising, and negative momentum is falling. A rally from here could see it hit 19.00 or 19.38.

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