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DAILY TECHNICAL ANALYSIS FOR SEPTEMBER 22, 2022

EUR/USD

The EURUSD pair shows bullish bias to test the key resistance 0.9880, which urges caution from the upcoming trading, as breaching this level will stop the negative scenario expected for the upcoming period and push the price to recover, while the expected targets of the bearish wave are located at 0.9800 and extend to 0.9700.

The expected trading range for today is between 0.9730 support and 0.9900 resistance.

The expected trend for today: Bearish

USD/JPY

The USDJPY pair rallied upwards by today’s open to succeed achieving our first main waited target 145.00, and we suggest the continuation of the bullish trend domination for the upcoming period to head towards achieving more gains on the longer term basis, noting that the next targets reach 146.00 followed by 146.90 levels.

Therefore, we are waiting for more rise today, noting that the continuation of the bullish wave requires holding above 143.55.

The expected trading range for today is between 144.00 support and 145.80 resistance

The expected trend for today: Bullish

GBP/USD

The GBPUSD pair rallied upwards to attack 1.1295 level and attempts to hold above it, which hints heading to attempt to start bullish correction on the intraday basis, which makes us prefer to stay aside until the price confirms its situation according to this level, as consolidating above it will push the price to achieve gains that start at 1.1410 and extend to 1.1475, while trading below it again will reactivate the main bearish trend scenario that its next target located at 1.1100.

The expected trading range for today is between 1.1220 support and 1.1400 resistance.

The expected trend for today: Neutral

Midday update for Gold 

Gold price returns to rise strongly to test the bearish channel’s resistance, and as we mentioned in our recent reports, the price needs to consolidate below 1680.00 to keep the bearish trend scenario active, as breaching it will lead the price to achieve new gains that start at 1690.00 and extend to 1710.00, while breaking 1665.00 is required to reinforce the chances of resuming the bearish trend that its next main target located at 1644.00.

The expected trading range for today is between 1650.00 support and 1685.00 resistance.

The expected trend for today: Bearish

Source: Technical analysis

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