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Technical analysis report 22-07-2022

25 Jul 2022 11:47 AM

EUR/USD is edging higher and the MACD indicator shows that momentum has turned positive, implying the buyers are in control. A rally from here could see it target 1.0324 or 1.0400. A decline might see it find support at 1.0080 or 1.0027.

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 1.2124 or 1.2212.  Should the broader down move resume, 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 135.32 or 134.73. A rebound could see it hit 137.47 or 138.86.

There was a daily bullish reversal seen last Thursday, and if the rally continues it might target 1745 or 1772. Positive momentum is falling, implying the bulls are losing control. 1703 or 1681 might act as support.

Silver is in a downtrend and in mid-July it fell to its lowest level in over two years. If the bearish move continues, it might hit 18.22 or 18.13. A rebound might see it target 19.39 or 19.90.

WTI is trending lower and so is the RSI, suggesting the price bias is to the downside. A further decline in price might find support at 91.60 or 90.00. A break above 98.41 could see it target 100.00 or 101.67.

Last Friday, 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 31222.

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