Monday 17th 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.
Friday 14th July 2023: Technical Outlook and Review
The XAUUSD chart currently shows a neutral momentum, indicating that the price may fluctuate between the 1st resistance and 1st support level. The 1st support level is at 1953.82. This is an overlap support level which suggests that it might have a concentration of buyers, possibly leading to a price bounce if it reaches this point.
Thursday 13th July 2023: Technical Outlook and Review
On the downside, the 1st support level is found at 1952.62, serving as a pullback support, which could provide substantial stability to the price. Further down, the 2nd support level is located at 1931.62, identified as an overlap support that could potentially cushion any downward price movements.
Wednesday 12th July 2023: Technical Outlook and Review
The intermediate support level is found at 101.39 and is characterized as a pullback support. This level also aligns with a 127.20% Fibonacci extension and a 78.60% Fibonacci projection levels, enhancing its significance as a potential stabilization point in the event of a price decline.
Tuesday 11th July 2023: Technical Outlook and Review
The 1st support level is positioned at 1912.34 and is classified as an overlap support, offering considerable stability for the price. Should the price descend below this level, it may encounter another protective layer at the 2nd support, identified at 1900.86, a noteworthy swing low support.
Monday 10th July 2023: Technical Outlook and Review
The DXY (US Dollar Index) chart currently demonstrates a bearish momentum, indicating a downward bias in the market. This is supported by the price being below a major descending trend line, which suggests the potential continuation of the bearish trend.
Friday 7th July 2023: Technical Outlook and Review
The DXY chart indicates a prevailing bearish momentum, implying a likelihood of further downward movement in the market. The price has the potential for a bearish continuation, targeting the 1st support level located at 102.75.
Thursday 6th July 2023: Technical Outlook and Review
The DXY (U.S. Dollar Index) chart demonstrates a bullish momentum, with price above a major ascending trendline and the bullish Ichimoku cloud. There is potential for the price to drop further towards the 1st support level in the short term before bouncing and rising towards the 1st resistance level.
Wednesday 5th July 2023: Technical Outlook and Review
The DXY (U.S. Dollar Index) chart demonstrates a bullish momentum, with price above a major ascending trend line acting as strong support. There is a potential for a bullish continuation towards the 1st resistance level at 103.30, which is an overlap resistance.
