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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 26/08/2022


Dollar Index

The dollar index last week quickly returned to its highest high, appears to be on a correction wave.

The price has formed a descending channel like a flag pattern.

If this pattern is valid, we may see the price rise to an all-time high.



USOIL

Usoil has been trading in a range since the beginning of August, the price is now at the upper limit of the range.

If the pirce continues the sideways movements and does not break out of the range, we may see the price return to the lower limit around the 87.28 level.

GBPUSD

GBPUSD broke below R1 with a large solid red candle and formed a tentative downtrend.

The price now seems to have a corrective wave and the price is close to the trend line

If the price respects the trend line, we may see a impulse wave and go lower.

If the price breaks above the trendline, we may see the price retracement around the R1 level.



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