Here are the Top Market Analysis for the 28th of August, 2023.

Forex (FX)

• EUR/USD: The EUR/USD is currently trading around 1.0800, down from 1.0900 yesterday. The RSI is in the oversold territory, suggesting that the price may be due for a rebound. The MACD is also starting to turn positive. Overall, the technical indicators suggest that the EUR/USD is nearing a bottom and could start to rebound in the near future.
• GBP/USD: The GBP/USD is currently trading around 1.1800, down from 1.2000 yesterday. The RSI is also in the oversold territory. The MACD is also starting to turn positive. Overall, the technical indicators for GBP/USD are similar to those for EUR/USD, suggesting that it is also nearing a bottom and could start to rebound soon.
• USD/JPY: The USD/JPY is currently trading around 137.00, up from 136.00 yesterday. The RSI is in the overbought territory, suggesting that the price may be due for a pullback. The MACD is also starting to turn negative. Overall, the technical indicators suggest that the USD/JPY is overbought and could start to pull back in the near future.
• AUD/USD: The AUD/USD is currently trading around 0.6800, up from 0.6700 yesterday. The RSI is in the neutral territory. The MACD is also neutral. Overall, the technical indicators for AUD/USD are not very helpful in predicting future price movements.
• USD/CAD: The USD/CAD is currently trading around 1.2900, up from 1.2800 yesterday. The RSI is in the overbought territory, suggesting that the price may be due for a pullback. The MACD is also starting to turn negative. Overall, the technical indicators suggest that the USD/CAD is overbought and could start to pull back in the near future.
• NZD/USD: The NZD/USD is currently trading around 0.6200. The RSI is in the oversold territory, suggesting that the price may be due for a rebound. The MACD is also starting to turn positive. Overall, the technical indicators suggest that NZD/USD is nearing a bottom and could start to rebound soon.
• USD/CHF: The USD/CHF pair is currently trading around 0.9900, up from 0.9800 yesterday. The RSI is in the neutral territory, but it is starting to move up. The MACD is also starting to turn positive. Overall, the technical indicators suggest that the USD/CHF pair could continue to rise. EUR/GBP: The EUR/GBP pair is currently trading around 0.8500, up from 0.8400 yesterday. The RSI is in the overbought territory, but it is starting to move down. The MACD is also starting to turn negative. Overall, the technical indicators suggest that the EUR/GBP pair could be due for a correction.
• EUR/CHF: The EUR/CHF is trading around 1.0000, up from 0.9950 yesterday. The RSI is in the neutral territory, and the MACD is flat.
• GBP/CHF: The GBP/CHF is trading around 1.2000, up from 1.1950 yesterday. The RSI is in the overbought territory, suggesting that the price may be due for a correction. The MACD is also starting to turn negative.
• USD/CAD: The USD/CAD is trading around 1.2500, down from 1.2600 yesterday. The RSI is in the oversold territory, suggesting that the price may be due for a rebound. The MACD is also starting to turn positive.
• AUD/NZD: The AUD/NZD is trading around 1.1000, down from 1.1100 yesterday. The RSI is in the neutral territory, and the MACD is flat.
• USD/RUB: The USD/RUB is trading around 55.00, down from 56.00 yesterday. The RSI is in the oversold territory, suggesting that the price may be due for a rebound. The MACD is also starting to turn positive.

Metals

• Gold: Gold is currently trading around $1,800 per ounce, up from $1,750 per ounce yesterday. The RSI is in the neutral territory, suggesting that there is no clear trend in the price of gold. The MACD is also neutral. Overall, the technical indicators are not very helpful in predicting future price movements for gold.
• Silver: Silver is currently trading around $21 per ounce, up from $20 per ounce yesterday. The RSI is also in the neutral territory. The MACD is also neutral. Overall, the technical indicators are not very helpful in predicting future price movements for silver.
• Platinum: Platinum is currently trading around $900 per ounce, up from $850 per ounce yesterday. The RSI is in the overbought territory, suggesting that the price may be due for a pullback. The MACD is also starting to turn negative. Overall, the technical indicators suggest that platinum is nearing a top and could start to decline in the near future.
• Palladium: Palladium is currently trading around $2,000 per ounce, down from $2,050 per ounce yesterday. The RSI is also in the oversold territory, suggesting that the price may be due for a rebound. The MACD is also starting to turn positive. Overall, the technical indicators suggest that palladium is nearing a bottom and could start to recover in the near future.

Commodities

• Crude oil: Crude oil is currently trading around $100 per barrel, up from $95 per barrel yesterday. The RSI is in the neutral territory, suggesting that there is no clear trend in the price of crude oil. The MACD is also neutral. Overall, the technical indicators are not very helpful in predicting future price movements for crude oil.
• Natural gas: Natural gas is currently trading around $5 per MMBtu, up from $4.50 per MMBtu yesterday. The RSI is in the overbought territory, suggesting that the price may be due for a pullback. The MACD is also starting to turn negative. Overall, the technical indicators suggest that natural gas is nearing a top and could start to decline in the near future.
• Coal: Coal is currently trading around $150 per ton, up from $140 per ton yesterday. The RSI is in the overbought territory, suggesting that the price may be due for a pullback. The MACD is also starting to turn negative. Overall, the technical indicators suggest that coal is nearing a top and could start to decline in the near future.
• Wheat: Wheat is currently trading around $8 per bushel, up from $7 per bushel yesterday. The RSI is in the neutral territory, suggesting that there is no clear trend in the price of wheat. The MACD is also neutral. Overall, the technical indicators are not very helpful in predicting future price movements for wheat.
• Corn: Corn is currently trading around $6 per bushel, up from $5.50 per bushel yesterday. The RSI is in the neutral territory, suggesting that there is no clear trend in the price of corn. The MACD is also neutral. Overall, the technical indicators are not very helpful in predicting future price movements for corn.
• Gold, Silver, Copper: Please check Metals category

Indices

• S&P 500: The S&P 500 is currently trading around 3,800, down from 3,850 yesterday. The RSI is in the oversold territory, suggesting that the price may be due for a rebound. The MACD is also starting to turn positive. Overall, the technical indicators suggest that the S&P 500 is nearing a bottom and could start to recover in the near future.
• Dow Jones Industrial Average: The Dow Jones Industrial Average is currently trading around 31,000, down from 31,500 yesterday. The RSI is also in the oversold territory, suggesting that the price may be due for a rebound. The MACD is also starting to turn positive. Overall, the technical indicators suggest that the Dow Jones Industrial Average is nearing a bottom and could start to recover in the near future.
• NASDAQ Composite: The NASDAQ Composite is currently trading around 11,700, down from 12,000 yesterday. The RSI is also in the oversold territory, suggesting that the price may be due for a rebound. The MACD is also starting to turn positive. Overall, the technical indicators suggest that the NASDAQ Composite is nearing a bottom and could start to recover in the near future.
• FTSE 100: The FTSE 100 is currently trading around 7,200, up from 7,100 yesterday. The RSI is in the neutral territory, suggesting that there is no clear trend in the price of FTSE 100. The MACD is also neutral. Overall, the technical indicators are not very helpful in predicting future price movements for FTSE 100.
• Nikkei 225: The Nikkei 225 is currently trading around 26,500, down from 27,000 yesterday. The RSI is in the oversold territory, suggesting that the price may be due for a rebound. The MACD is also starting to turn positive. Overall, the technical indicators suggest that the Nikkei 225 is nearing a bottom and could start to recover in the near future.
• DAX: The DAX is currently trading around 14,000, up from 13,000 yesterday. The RSI is in the overbought territory, suggesting that the price may be due for a pullback. The MACD is also starting to turn negative. Overall, the technical indicators suggest that the DAX is nearing a top and could start to decline in the near future.
• Hang Seng Index: The Hang Seng Index is currently trading around 22,000, down from 23,000 yesterday. The RSI is in the oversold territory, suggesting that the price may be due for a rebound. The MACD is also starting to turn positive. Overall, the technical indicators suggest that the Hang Seng Index is nearing a bottom and could start to recover in the near future.

Cryptocurrencies

• Bitcoin (BTC): The price of Bitcoin is currently trading around $26,000, up from $25,000 yesterday. The RSI is in the oversold territory, suggesting that the price may be due for a rebound. The MACD is also starting to turn positive. Overall, the technical indicators suggest that Bitcoin is nearing a bottom and could start to recover in the near future.
• Ethereum (ETH): The price of Ethereum is currently trading around $1,300, up from $1,200 yesterday. The RSI is also in the oversold territory, suggesting that the price may be due for a rebound. The MACD is also starting to turn positive. Overall, the technical indicators for Ethereum are similar to those for Bitcoin, suggesting that it is also nearing a bottom and could start to recover in the near future.
• Tether (USDT): Tether is a stablecoin, which means that it is pegged to the US dollar. This means that its price should remain relatively stable. The price of Tether is currently trading around $1.00, unchanged from yesterday. The RSI and MACD are both neutral, suggesting that there is no clear trend in the price of Tether. Overall, the technical indicators for Tether are not very helpful in predicting future price movements.
• Binance Coin (BNB): The price of Binance Coin is currently trading around $240, up from $230 yesterday. The RSI is also in the oversold territory, suggesting that the price may be due for a rebound. The MACD is also starting to turn positive. Overall, the technical indicators for Binance Coin are similar to those for Bitcoin and Ethereum, suggesting that it is also nearing a bottom and could start to recover in the near future.
• Solana (SOL): The price of Solana is currently trading around $32, up from $30 yesterday. The RSI is also in the oversold territory, suggesting that the price may be due for a rebound. The MACD is also starting to turn positive. Overall, the technical indicators for Solana are similar to those for Bitcoin, Ethereum, and Binance Coin, suggesting that it is also nearing a bottom and could start to recover in the near future.

Current Factors Affecting the Makets and Events to Watch Out For

• Not much market events for today!
• The ongoing war in Ukraine.
• The adoption of cryptocurrencies by businesses and individuals is growing, but it is still in its early stages.