Technical analysis report 26-09-2022

26 Sep 2022 11:54 AM

EUR/USD fell a new 20-year low and if the wider bearish move continues it could target 0.9550 or 0.9500. Negative momentum is falling, and that implies the bears are losing control. If the short-term rally continues, it could hit 0.9718 or 0.9774.

GBP/USD printed a new record low today. If the wider bearish trend continues, it might target 1.0522 or 1.0400. 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 1.0844 or 1.0903.

USD/JPY is rallying once again, the RSI is moving higher and positive momentum is rising, that speaks to bullish sentiment. 145.00 or 145.89 might act as resistance. A fall from here could find support at 143.17 or 142.72.

The Dow Jones fell to a 21-month low, momentum is negative and that suggests the sellers are in control. If the broader bullish trend continues, it might find support at 29200 or 29000. RSI has moved into negative territory, and that could suggest the sell off is overstretched. If the market rebounds, it might hit 29662 or 30000.

WTI is trending lower and it fell to a new eight-month low. Momentum is in negative territory and that implies the bears are dominant. Should the wider bearish move continue, it could find support at 77.00 or 76.00. If WTI rallies from here, it might hit 78.97 or 79.78.

Gold dropped to a fresh two-year low and momentum is negative, which suggests the bears are in control. Further declines from here could see it fall to 1625 or 1600. RSI has rebounded a little, and that could be a sign a recovery is in the offing. Resistance might be encountered at 1648 or 1658.

Silver is moving lower, momentum is negative, and the RSI is falling, this implies bearish sentiment. A fall from here could see it target 18.31 or 18.00. The longer-term is higher and should that resume, it might hit 18.86 or 18.98.

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