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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 07/09/2022


EURJPY

EURJPY has an up-trending channel since August 24, the price managed to break above this channel, but with RSI in overbought condition and almost neutral candlesticks.

If the price does not stay above the channel and returns, we may see a correction to the S1 level.



S&P 500

The S&P continues its downtrend with RSI remaining below 50, price now appears to be finding support at the S1 level. If price fails to break below S1, we may see price return to R1 around the trend line.

DXY

The dollar index has made a new high at 110.76, the price managed to form a valid trend line recently.

It now appears to have made the push wave with the RSI slightly below the overbought area. If the price does not continue to rise due to decreasing momentum, we may see a corrective wave around the trend line.


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