FX.co - Analysis of Gold for September 27, 2023 - Potential for the further downside movement

2023-09-27T07:56:34

Relevance until2023-09-28

Technical analysis:

Analysis of Gold for September 27, 2023 - Potential for the further downside movement

EUR/USD has been trading downside and I see strong downside trend and momentum, which is good sign for the further downside continuation.

Due to the downside momentum and no major sign for the reversal, I see potetnial for the further drop towards lower reference.

Downside objective is set at the price of 1.0525

RSI oscillator is showing negative reversal in the downside trend, which is good sign for the further downside movement.

Key resistance is set at the price of 1.0575

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Petar Jacimovic

FX.co ★ Analysis of Gold for September 27, 2023 - Potential for the further downside movement