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Technical analysis report 15-08-2022

15 Aug 2022 11:25 AM

The NASDAQ 100 has retreated from its highest level in over three months. The RSI is moving lower, suggesting the bears are dominant and if the downward move continues, it could target 13266 or 12943. If the wider bullish trend resumes, it might run into resistance at 13775 or 14213.

Silver has declined and positive momentum is falling, so that indicates the buyers are not as influential as they once were. If the broader uptrend continues, 21.35 or 21.52 could act as resistance. A fall from here could see 20.00 or 19.53 act as support.

Gold is falling and momentum has turned negative, implying the bears are in control. If the sell off continues, it might target 1776 or 1764. If the metal rallies from here, it could retest 1807, and a break above the level could bring 1811 into play.

WTI is trending lower, and RSI is also falling, suggesting the price bias is to the downside. If the bearish move continues, 86.37 or 85.84 could act as support. Resistance might be found at 92.16 or 93.92.

EUR/USD is in a downtrend and the MACD indicator shows that momentum is negative, implying the bears are in control. If the price decline continues, it might find support at 1.0121 or 1.0095. A rebound could see it hit 1.0283 or 1.0324.

GBP/USD is under pressure, negative momentum is increasing, and RSI is falling, and that underlines the bearish move. Support might be found at 1.2002 or 1.1889.  A rebound might run into resistance at 1.2147 or 1.2215.

USD/JPY is in a bearish trend and if the downward move continues, it might target 131.72 or 130.69. The currency pair has recovered from last week’s low, and momentum is in positive territory, suggesting the bulls are in control. 135.06 or 135.57 might act as resistance.

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