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Technical analysis report 27-07-2022

27 Jul 2022 12:14 PM

EUR/USD is edging lower and the MACD indicator shows that momentum is negative, implying the sellers are in control. A decline might see it find support at 1.0080 or 1.0027. A rally from here could see it target 1.0277 1.0324.

GBP/USD is rising, and so is the RSI, suggesting the price bias is to the upside. If the bullish move continues, it might hit 1.2164 or 1.2290. Should the currency pair fall, support could come into play at 1.1889 or 1.1812.

USD/JPY has fallen, and RSI is trending lower, suggesting the price bias is to the downside. A decline might find support at 135.57 or 134.95. A rebound could see it hit 137.93 or 138.86.

Gold is trading in a small range, the RSI has ticked slightly higher, suggesting the price bias is to the upside. While it holds above 1703, the uptrend could continue, 1739 or 1745 might be targeted. A break below 1703 might bring 1680 into play.

Silver is creeping higher and so is the RSI, suggesting the price bias is to the upside. If the rise continues, it might run into resistance at 19.08 or 19.39. A failure to clear 19.08 might suggest a change in trend is in the offing, a fall could target 18.22 or 18.13.

WTI is trending lower, and momentum is negative, implying the bears are in control.  A further decline in price might find support at 91.60 or 90.00. A break above 98.23 could see it target 100.00 or 101.67.

Last week, the Dow Jones hit its highest mark in over one month, if the rally continues, resistance might be found at 32347 or 32824. The MACD indicator shows that momentum is negative, suggesting the bears are dominating.  A fall might find support at 31525 or 31343.

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