NAS 100 Keeps Building
The Nas 100 (Nasdaaq) continued to drive higher on progressive earnings as the season got underway. After hitting support at 19900, the latest rebound came to a rest at 20400, forming a double top. This suggests that the bears have not given up yet and are still probing for firm resistance. A break below said support would force bulls to cover and trigger an extended rally towards 19000. On the upside, 20600 is a crucial level to make the index hit another record.
EURGBP Awaits Breakout
The euro attempts a comeback after losing over 100 pips in recent sessions. Sentiment has improved after a tentative move away from the psychological level of 0.8300. The pair is now consolidating gains around the mid-0.8330 region. A more profound drop would expose 0.8260 as the euro tries to avoid another round of selloffs. A close above 0.8370 would flush out remaining selling interests and propel the pair towards the recent peak of 0.8420.
XAGUSD Tries to Stabilise
Silver steadied after a pullback from its recent high, which saw the metal attempt to reclaim the 34.00 level. As the precious metal bounced away from the 33.00 region, the RSI’s neutral condition on the chart might give the sell side a respite, causing more of a bounce as the opposite side takes some chips off the table. Most bulls could still be sitting and waiting for signs of stabilisation. 33.00 becomes the latest support, and only a rise above 34.50 would ease the mood and prompt more sellers to exit.
