Friday 28th July 2023: Technical Outlook and Review
The XAU/USD pair, the chart's overall momentum is bearish. Consequently, we could potentially witness a bearish reaction off the 1st resistance level, which would then cause the price to drop towards the 1st support level.
Thursday 27th July 2023: Technical Outlook and Review
The DXY instrument is currently showing a bearish overall momentum. It's predicted that the price could potentially make a bearish reaction off the 1st resistance and drop to the 1st support level. The 1st support is located at 100.39 and is seen as good due to its quality as a pullback support and its position at the 61.80% Fibonacci retracement level.
Wednesday 26th July 2023: Technical Outlook and Review
The DXY chart displays a bullish momentum, suggesting a potential upward continuation towards the 1st resistance. The 1st support is at 100.84, identified as an overlap support. The 2nd support at 100.02 aligns with the 78.60% Fibonacci retracement level, further enhancing its significance.
Tuesday 25th July 2023: Technical Outlook and Review
The DXY chart indicates a bullish momentum, suggesting a potential bullish continuation towards the 1st resistance level at 101.98. This resistance level is identified as an overlap resistance and coincides with the 61.80% Fibonacci retracement.
Monday 24th July 2023: Technical Outlook and Review
The price may potentially experience a bearish reaction off the 1st resistance level at 101.09, which coincides with the 38.20% Fibonacci retracement, leading to a drop towards the 1st support at 101.03, representing the 61.80% Fibonacci retracement.
Friday 21st July 2023: Technical Outlook and Review
The chart for the DAY instrument indicates a prevailing bearish momentum, suggesting a potential continuation of the downward movement towards the 1st support level. This support level, located at 100.01, holds significance as an overlap support and aligns with the 61.80% Fibonacci retracement. Furthermore, the 2nd support level at 99.42 also acts as an overlap support.
Thursday 20th July 2023: Technical Outlook and Review
The XAU/USD (Gold) chart currently demonstrates a bullish overall momentum, suggesting the potential for a bullish breakout of the 1st resistance level and a subsequent rise towards the 2nd resistance level.
Wednesday 19th July 2023: Technical Outlook and Review
The dollar index (DXY) chart is currently exhibiting a bullish momentum, suggesting that the price could potentially make a bullish continuation towards the 1st resistance. The intermediate support level is at 99.66 and is identified as a multi-swing low support. This level may halt any short-term downtrend.
Tuesday 18th July 2023: Technical Outlook and Review
The 1st support level is at 99.42. This is an overlap support and also a 100% Fibonacci Projection level. This suggests that the market has found buying interest at this price in the past, which could potentially cause a bounce upwards.
