Here are the Top Market Analysis for the 25th of September, 2023.

Currencies (Forex – FX)

• EUR/USD: EUR/USD is currently trading at around 1.0650, down slightly from its weekly high of 1.0740. The overall trend is still bearish, but the bulls are trying to form a higher bottom, which could indicate buying on dips. On the daily chart, EUR/USD is trading below its 200-day moving average, but above its 50-day and 100-day moving averages. This suggests that the bears are still in control in the medium term, but the bulls are trying to make a comeback. The MACD indicator is also bearish, with the signal line above the MACD line. This suggests that downward momentum is still strong. The RSI indicator is at 45, which is in the neutral zone. This suggests that there is no clear direction for EUR/USD in the short term. Overall, the technical analysis for EUR/USD is mixed. The bears are still in control in the medium term, but the bulls are trying to make a comeback. Investors should be cautious and wait for a clear trend to emerge before making any investment decisions.
• USD/JPY: USD/JPY is currently trading at around 148.50, up from its weekly low of 147.00. The overall trend is still bullish, but the bears are trying to form a lower top, which could indicate selling on rallies. On the daily chart, USD/JPY is trading above its 200-day, 50-day, and 100-day moving averages. This suggests that the bulls are still in control in the medium and short term. The MACD indicator is also bullish, with the signal line below the MACD line. This suggests that upward momentum is still strong. The RSI indicator is at 60, which is in the overbought zone. This suggests that USD/JPY may be due for a pullback in the short term. Overall, the technical analysis for USD/JPY is mixed. The bulls are still in control in the medium and short term, but the bears are trying to form a lower top. Investors should be cautious and wait for a clear trend to emerge before making any investment decisions.
• Other Currency Pairs Other currency pairs are also trading in a mixed fashion. Some currency pairs, such as GBP/USD and AUD/USD, are outperforming EUR/USD, while others, such as USD/CAD and USD/CHF, are underperforming.

Metals

• Gold: Gold is currently trading at around $1900 per ounce, down slightly from its weekly high of $1950. The overall trend is still bearish, but the bulls are trying to form a higher bottom, which could indicate buying on dips. On the daily chart, Gold is trading above its 200-day moving average, but below its 50-day and 100-day moving averages. This suggests that the bears are still in control in the medium term, but the bulls are trying to make a comeback. The MACD indicator is also bearish, with the signal line above the MACD line. This suggests that downward momentum is still strong. The RSI indicator is at 45, which is in the neutral zone. This suggests that there is no clear direction for Gold in the short term. Overall, the technical analysis for Gold is mixed. The bears are still in control in the medium term, but the bulls are trying to make a comeback. Investors should be cautious and wait for a clear trend to emerge before making any investment decisions.
• Silver: Silver is currently trading at around $18 per ounce, down slightly from its weekly high of $18.50. The overall trend is still bearish, but the bulls are trying to form a higher bottom, which could indicate buying on dips. On the daily chart, Silver is trading above its 200-day moving average, but below its 50-day and 100-day moving averages. This suggests that the bears are still in control in the medium term, but the bulls are trying to make a comeback. The MACD indicator is also bearish, with the signal line above the MACD line. This suggests that downward momentum is still strong. The RSI indicator is at 45, which is in the neutral zone. This suggests that there is no clear direction for Silver in the short term. Overall, the technical analysis for Silver is mixed. The bears are still in control in the medium term, but the bulls are trying to make a comeback. Investors should be cautious and wait for a clear trend to emerge before making any investment decisions.
• Other Metals: Other metals, such as copper and aluminum, are also trading in a mixed fashion. Some metals, such as nickel and zinc, are outperforming Gold and Silver, while others, such as lead and tin, are underperforming.

Commodities

• Crude Oil: Crude oil is currently trading at around $90 per barrel, down slightly from its weekly high of $95. The overall trend is still bullish, but the bears are trying to form a lower top, which could indicate selling on rallies. On the daily chart, crude oil is trading above its 200-day, 50-day, and 100-day moving averages. This suggests that the bulls are still in control in the medium and long term. The MACD indicator is also bullish, with the signal line below the MACD line. This suggests that upward momentum is still strong. The RSI indicator is at 60, which is in the overbought zone. This suggests that crude oil could be due for a pullback in the short term. Overall, the technical analysis for crude oil is bullish. The bulls are still in control in the medium and long term, but the bears could be due for a pullback in the short term. Investors should be cautious and wait for a clear trend to emerge before making any investment decisions.
• Natural Gas: Natural gas is currently trading at around $2.90 per MMBtu, up slightly from its weekly low of $2.80. The overall trend is still bearish, but the bulls are trying to form a higher bottom, which could indicate buying on dips. On the daily chart, natural gas is trading below its 200-day, 50-day, and 100-day moving averages. This suggests that the bears are still in control in the medium and long term. The MACD indicator is also bearish, with the signal line above the MACD line. This suggests that downward momentum is still strong. The RSI indicator is at 40, which is in the oversold zone. This suggests that natural gas could be due for a rebound in the short term. Overall, the technical analysis for natural gas is bearish. The bears are still in control in the medium and long term, but the bulls could be due for a rebound in the short term. Investors should be cautious and wait for a clear trend to emerge before making any investment decisions.
• Other Commodities: Other commodities, such as wheat and soybeans, are also trading in a mixed fashion. Some commodities, such as corn and coffee, are outperforming crude oil and natural gas, while others, such as sugar and cotton, are underperforming.

Indices

• Dow Jones Industrial Average: The Dow Jones Industrial Average is trading higher on Wednesday, with the index trading above 33,900 points. The Dow is being supported by gains in the shares of energy and industrial companies. The Dow Jones Industrial Average is in a neutral trend, with the index trading between 33,800 and 34,000 points. A break above 34,000 points could open the door to further gains towards 34,200 points, while a break below 33,800 points could lead to further losses towards 33,600 points.
• S&P 500 Index: The S&P 500 index is also trading higher on Wednesday, with the index trading above 4,300 points. The S&P 500 is benefiting from the same factors that are supporting the Dow, as well as from gains in the shares of technology companies. The S&P 500 index is in a neutral trend, with the index trading between 4,290 and 4,310 points. A break above 4,310 points could open the door to further gains towards 4,330 points, while a break below 4,290 points could lead to further losses towards 4,270 points.
• Nasdaq Composite Index: The Nasdaq Composite index is trading lower on Wednesday, with the index trading below 13,200 points. The Nasdaq is being weighed down by concerns about a slowdown in the growth of the technology sector. The Nasdaq Composite index is in a neutral trend, with the index trading between 13,100 and 13,300 points. A break above 13,300 points could open the door to further gains towards 13,500 points, while a break below 13,100 points could lead to further losses towards 12,900 points.
• Russell 2000 Index: The Russell 2000 index, which tracks small-cap US stocks, is trading higher on Wednesday. The Russell 2000 is benefiting from the same factors that are supporting the Dow and the S&P 500.
• FTSE 100 Index: The FTSE 100 index, which tracks the 100 largest companies listed on the London Stock Exchange, is trading higher on Wednesday. The FTSE 100 is being supported by gains in the shares of energy and mining companies. The FTSE 100 is in a downtrend, with the index trading below 7,700. A break below 7,700 could open the door to further losses towards 7,650, while a break above 7,700 could lead to a short-term rebound.
• DAX Index: The DAX index, which tracks the 30 largest companies listed on the Frankfurt Stock Exchange, is trading higher on Wednesday. The DAX is benefiting from the same factors that are supporting the FTSE 100. The DAX is in a downtrend, with the index trading below 15,600. A break below 15,600 could open the door to further losses towards 15,550, while a break above 15,600 could lead to a short-term rebound.

Current Factors Affecting the Markets and Events to Watch Out For

• US-China trade war: The US-China trade war is still ongoing, and could continue to weigh on the global economy and the forex market.
• Geopolitical developments, such as the Russia-Ukraine war
• The weather
• Changes in investor sentiment
• The adoption of cryptocurrencies by businesses and individuals is growing, but it is still in its early stages.