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<b> MARKET</b> ANALYSIS <b> MARKET</b> ANALYSIS

MARKET ANALYSIS

Cutting-Edge Market Commentary for Informed Strategy Making


DAILY TECHNICAL ANALYSIS 19/08/2022


XAUUSD

An update on our previous analysis of gold, Gold was able to break and stay below the R1 level and today started to go lower.

The next critical level for gold that investors should keep in mind are the 61.8 level which is also internal support and and S1.


EURUSD

EURUSD last month traded in a wide range between the 1.04 and 1.0 levels.

Now the price is at the bottom of the range and entering the green support area.

If the price bounce on support area, we may see the price going up around 1.04.

If the price breaks below this area, this looks like a big problem for Euro and we may see the price fall further.

USDJPY

USDJPY has formed a short-term uptrend. He managed to break the S1 level with solid green candle.

The RSI has been at overbought levels for too long. The critical levels are the trend line and the S1 level on the chart no action is needed until the price falls back to these levels.




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