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FUNDAMENTAL AND TECHNICAL ANALYSIS REPORT – 22 SEPTEMBER 2022​

DOLLAR AT 20-YRS HIGH ON HAWKISH FED

Asian Pacific stock stocks hits a two-year low on Thursday. The Shanghai Composite is down 0.13% at 3,113.81. Overall, the Singapore MSCI is down 0.53% at 288.50. Over in Hong Kong, the Hang Seng Index is down 1.85% at 18,106.00. In Japan, the Nikkei 225 is down 0.66% at 26,940.00, while the Topix index is down 0.34% at 1895.50. South Korea’s Kospi is down 0.67% at 2,331.51. Australia S&P/ASX 200 down 1.56% at 6700.20.

TOP NEWS OF THE DAY:

The U.S. dollar jumped to a new 20-year high against a basket of currencies on Thursday, extending gains after the Federal Reserve raised interest rates and struck a more hawkish than the expected tone in its latest meeting.

The dollar index rose as much as 1% to 111.47, its highest level since June 2002, while dollar index futures rose 0.3% to 111.427. Both indicators rallied on Wednesday after the Fed. 10-year U.S. Treasury yields surged to an 11-year high.

Market Summary as per 21/09/2022:

European equities Wednesday closing. The DAX futures contract in Germany traded up 0.76% at 12,767.15, CAC 40 futures up 0.87% at 6031.34 and the UK 100 futures contract in the U.K. up 0.63% at 7,237.63.

In the U.S. on Wall Street, the Dow Jones Industrial Average closed down 1.70% at 30183.79. The S&P 500 down 1.71% at 3789.94 and the Nasdaq 100 down 1.80% at 11637.79, NYSE closes down 1.65% at 14236.60.

TECHNICAL ANALYSIS​

GBPUSD TECHNICAL ANALYSIS

JRgQb8MlskM1qh0ta46O00cMfMMiO_-YlYEt-GRa_9oWhIUwzyxL9_zbn8xdPmU-rsCt6JxGd8VZ6rXJBb7bWfC8IQNzNyoWSdznBStsNkwv2WqXU4kH5hsrRGeGqIiyGVeIbqIeYnRNmq91ameb4xPI7bG1jjYtBWJoaDgjP31ssLPzTkXF_oVRpJ65EL77ynzwRw

Lsy_o4OhWR6XgpmPf0HTPk7rOoNySDOPAx3CP6aF68yeAFoo6g8k3UMMQYwdSzCWlLSD1jmfPrTmgxvPB0nfSvX81w7hhmuieugNLNB1y9pS2mySjM8opfXf_fi8FtNapSM1_pJGZ15C7CqIkaB4RuNdkGQQKFEbEpzjoyD-ktSgKOiVei5QqAwDHTG87A2oHVZ1JQ


TRADE SUGGESTION- SELL AT 1.1224, TAKE PROFIT AT 1.1200 AND STOP LOSS AT 1.1243

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CSFX.Support

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DOW JONES TECHNICAL ANALYSIS & NEWS – 22 SEPTEMBER 2022​


DOW JONES TUMBLED WILD TODAY AFTER THE FED RISING INTEREST RATES


The Dow Jones Industrial Average fell by 1.71% to 30183.08 on Thursday 22 September

U.S. stock futures were trading lower during Sunday’s evening deals, after major benchmark indices retreated on Friday following Fed Chair Powell’s comments at the Jackson Hole, signaling a willingness to hike interest rates even if it causes economic pain.

By 19:00 ET (23:00 GMT) DOW JONES FUTURES were down by 1.7%, S&P 500 Futures tumbled 0.2% and Nasdaq 100 Futures fell 0.2%.

Ahead of the week, market participants will be monitoring more speeches from Federal Reserve officials, as well as ADP Employment Change, JOLT job opening, and ISM Manufacturing PMI data. Key NON-farm payrolls data will also be closely watched, with the economy expected to add 285k positions and unemployment to hold at 3.5%.

During Thursday’s regular trade, the DOWN JONES INDUSTRIAL Average fell 500 points or 1.7% to 32,283.4, the S&P 500 shed 141.5 points or 1.7% to 3,789, and the NASDAQ Composite down by 1.8% in a day.

OPEC+ is a group between the Organization of the Petroleum Exporting Countries and its Allies. meets later Monday for the tight supplies of oil.

Today’s weakness in the European market occurs because the people’s bank of China cut the repo rate and increased cash injections into the economy, a major driver of economic growth which has been hit hard by Covid-19 lockdowns

LONG-TERM TECHNICAL ANALYSIS

dow-1024x494.jpg

This daily chart indicates that Dow jones was trading in a down channel. Currently, it is trading below all SMA. RSI is in the selling zone, which indicates bearishness, and MACD is below zero, which indicates bearishness.

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