Not much direction in after the London market open with traders bracing for the fed decision-Technical Analysis:EUR/USD, Gold, Nasdaq, Oil & Bitcoin Levels — 16 September 2026 markets fairly muted with not a great trend as traders , investors and corporate companys sit back until the decision off borrowing costs on the dollar before they make any further major moves with risk .
FOREX DXY The Dollar Index is trading marginally lower this session, finding mild resistance at the 99.70 level, just below its MA50 of 99.968. Support is noted at the session low of 99.595, with the MA20 at 99.192 offering a stronger floor. A break above 99.735 would target the 100.00 psychological level. The DXY remains in a consolidation phase, trapped between its MA20 and MA50, indicating indecision. Bias: Neutral above 99.595, invalidation below 99.595.
EUR/USD EUR/USD trades with a slight positive bias, sitting at 1.15530. Price has crossed above its MA50 of 1.15360 this session but remains below the MA20 and MA200. The session high of 1.15540 acts as immediate resistance; a break targets the 61.8% Fibonacci retracement from the 60-day swing high/low (1.13545-1.17123) at 1.15740. Support lies at the MA50 and the session low of 1.15350. Upside momentum is limited by the declining MA20 and MA200, suggesting bearish pressure persists. Bias: Neutral above 1.15360, invalidation below 1.15360.
GBP/USD GBP/USD is pressured lower, currently at 1.34920, sitting just above its MA50 of 1.34860 but below yesterday's close of 1.35009. The session low of 1.34660 provides immediate support, with the MA200 at 1.34530 a key level below. Resistance is at the session high of 1.34950, followed by the MA20 at 1.35590. The pair is showing signs of weakening, with the MA20 diverging negatively from the MA50. Bias: Bearish below 1.35009, invalidation above 1.35009.
USD/JPY USD/JPY exhibits strong bullish momentum, up 0.49% at 155.149, after breaking above yesterday's close of 154.385. The current price is well below the MA20, MA50, and MA200, which are all declining, suggesting a strong counter-trend rally. Immediate resistance is the session high of 155.490, with significant resistance at the 61.8% Fibonacci retracement of the 60-day swing (152.897-163.979) at 157.060. Support is the session low of 155.008. Bias: Bullish above 155.008, invalidation below 155.008.
AUD/USD AUD/USD is trading marginally lower at 0.71350, maintaining yesterday's close of 0.71378 as resistance. The pair is above its MA50 and MA200 but below the MA20, indicating a mixed short-term trend. The session low of 0.71230 provides support, with the MA50 at 0.70760 as a stronger base. Upside targets include the MA20 at 0.71700 and the 38.2% Fibonacci retracement of the 60-day swing (0.68657-0.72390) at 0.70930. The ATR14 suggests low volatility. Bias: Neutral above 0.71230, invalidation below 0.71230.
INDICES AND FUTURES Nasdaq 100 futures (NQ) NQ futures are strongly bullish, up 1.29% at 29327.25, pushing above its MA50 of 29290.24 and approaching the MA20 at 29345.97. The current session high of 29358.50 is immediate resistance, with a break opening the path to the 30000 psychological level. Support is firm at the session low of 29226.00 and yesterday's close of 28955.00. The MA50 is now supporting price, indicating renewed upward momentum within a broader range. Bias: Bullish above 29290.24, invalidation below 29290.24.
S&P 500 futures (ES) ES futures are tracking NQ, up 1.07% at 7670.75, trading just below its MA20 of 7678.06 but above the MA50 of 7638.51. The session high of 7678.00 matches the MA20, forming a key resistance cluster. A break above this level could target the 7700 psychological mark. Support is found at the session low of 7658.75 and the MA50. The MA20 is declining, capping upside potential, but the MA50 is rising. Bias: Neutral above 7638.51, invalidation below 7638.51.
Dow futures (YM) YM futures show robust gains, up 0.97% at 52618.00, having comfortably cleared yesterday's close of 52115.00. Price remains below its declining MA20 and MA50, currently at 53053.80 and 53056.72 respectively, which act as significant resistance overhead. The session high of 52678.00 is minor resistance, with support at the session low of 52557.00. The ATR14 indicates high volatility, suggesting strong swings. Bias: Neutral above 52557.00, invalidation below 52557.00.
DAX DAX is trading down 0.15% at 25402.28, having failed to sustain gains above yesterday's close of 25440.81. Price is well below its declining MA20 and MA50, indicating a strong bearish short-term trend. Immediate resistance is the session high of 25478.98, while support lies at the session low of 25172.89. The 50% Fibonacci retracement level from the 60-day swing (24547.70-26618.74) is at 25583.22, offering further resistance. Bias: Bearish below 25440.81, invalidation above 25440.81.
FTSE 100 The FTSE 100 is also in negative territory, down 0.37% at 10658.13, trading below yesterday's close of 10697.60. The index remains below its MA20 and MA50, which are both declining, confirming a bearish trend. Immediate resistance is at yesterday's close and the session high of 10697.76. Support is at the session low of 10586.39, with the MA200 at 10392.82 as strong long-term support. The 61.8% Fibonacci retracement from the 60-day swing (10332.40-10989.50) is at 10578.86, near current support. Bias: Bearish below 10697.60, invalidation above 10697.60.
COMMODITIES Spot gold (XAU/USD) Gold is seeing a significant rebound, up 0.85% at 4369.60, after finding support at its MA50 of 4312.86. Price has cleared yesterday's close of 4332.80 and is now approaching the 50% Fibonacci retracement from the 60-day swing (3955.40-4755.00) at 4355.20. Immediate resistance is at the session high of 4381.90, with the MA20 at 4505.80 overhead. The current move suggests a retest of the declining MA20. Bias: Bullish above 4332.80, invalidation below 4332.80.
Spot silver (XAG/USD) Silver is exhibiting strong bullish momentum, soaring 3.10% to 65.195, comfortably above yesterday's close of 63.236. Price has cleared its MA50 of 62.686 but remains below the declining MA20. Immediate resistance is the session high of 65.395, with the MA20 at 66.421 as the next key level. Support is now established at the 61.8% Fibonacci retracement from the 60-day swing (55.015-71.160) at 61.210. Bias: Bullish above 63.236, invalidation below 63.236.
Copper Copper is also in a strong rally, up 1.69% at 6.47600, trading just below its MA50 of 6.47520. A sustained break above this MA could signal a retest of the MA20 at 6.55040. The session high of 6.49100 acts as immediate resistance. Support is at yesterday's close of 6.36850 and the session low of 6.44000. Price is now trading above its MA50, indicating potential for further upside. Bias: Neutral above 6.47520, invalidation below 6.47520.
WTI crude WTI crude is facing pressure, down 1.09% at 104.680, trading below yesterday's close of 105.830. Price has retreated from the 60-day swing high of 106.750 and is finding support at the 61.8% Fibonacci retracement from the 60-day swing (67.040-106.750) at 82.200. Immediate resistance is the session high of 105.630, while support is at the session low of 104.230. The MA20 and MA50 are significantly below price, suggesting a pullback from overbought conditions. Bias: Bearish below 105.830, invalidation above 105.830.
Brent crude Brent crude is mirroring WTI, down 0.63% at 108.070, also below yesterday's close of 108.750. Price has pulled back from the 60-day swing high of 110.190. Immediate resistance is the session high of 108.590, with support at the session low of 107.510. The MA20 and MA50 are well below the current price, indicating a recent strong uptrend that may be consolidating. The 61.8% Fibonacci retracement from the 60-day swing (70.140-110.190) is at 85.500. Bias: Bearish below 108.750, invalidation above 108.750.
Natural gas Natural gas is marginally higher, up 0.10% at 2.92200, holding above yesterday's close of 2.91900. Price is currently above its rising MA20 and MA50 but well below the declining MA200. Immediate resistance is the session high of 2.94800, with support at the session low of 2.91800. The 50% Fibonacci retracement from the 60-day swing (2.61600-3.44100) is at 3.02850, a potential upside target. Bias: Neutral above 2.91900, invalidation below 2.91900.
RATES US 10-year Treasury yield The US 10-year Treasury yield is up 0.71% at 4.99600, pushing towards the 5.000 psychological level and the 60-day swing high of 5.01600. The yield is trading above its rising MA20, MA50, and MA200, indicating a strong long-term uptrend. Immediate resistance is the 5.01600 level. Support is at yesterday's close of 4.96100. Bias: Bullish above 4.96100, invalidation below 4.96100.
LONDON OPEN WATCH: Equities are showing strength, particularly NQ and ES, challenging recent resistance levels; a break higher could signal continued risk-on sentiment. FX markets are consolidating, with DXY testing modest support while EUR/USD and GBP/USD remain subdued against a strengthening USD/JPY.