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Technical analysis report 29-07-2022

29 Jul 2022 10:49 AM

EUR/USD is edging higher and the MACD indicator shows that momentum is positive, implying the buyers are in control. A rally from here could see it target 1.0277 or 1.0324. 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 1.2283 or 1.2331. Should the currency pair fall, support could come into play at 1.2030 or 1.1964.

USD/JPY has fallen to a six-week low, and momentum is negative, implying the bears are in control. A further decline might find support at 132.31 or 131.48.  RSI is oversold, so a rebound could be in the offing, a rally could see it hit 134.66 or 135.35.

Gold is trending higher, but positive momentum is fading, implying the bulls are losing influence. If the rally continues, it might target 1772 or 1786. A pullback could retest 1724 or 1703.

Silver is in an uptrend and if the bullish move continues, it might hit 20.70 or 21.00. The RSI is overbought, suggesting the rally might be overstretched, a fall could target 19.27 or 19.00.

WTI is edging higher and the MACD indicator shows that momentum is positive, implying the buyers are in control. Resistance might be found at 99.01 or 100.00. 95.30 or 94.06 could act as support.

The Dow Jones hit its highest mark since early June, if the rally continues, resistance might be found at 32824 or 33000. The RSI is overbought so a pullback might be in the offing. 32210 or 32000 might provide support.

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