NAS100 (Nasdaq) remains on trend
The NAS100 (Nasdaq) continues to look bullish even after a slide lower. The recent rally could gain further traction if prices hold onto the 21600 level. Strong momentum is a sign that the bears are staying on the sidelines. Now approaching the psychological 22000 mark, this could, at least short-term, act as resistance. If we see any sign of exhaustion, this will bring 21200 back into play with a possible dive back down to 21000.
EURUSD remains bearish
The US dollar is still looking for parity as the fallout from Trump’s trade tariffs continues. On the chart, the euro fell over 100 pips in the past session as traders looked for a lift. A sharp fall below 1.0300 has attracted momentum sellers, sending the pair towards 1.0230. As the RSI ventures into the oversold area, buyers could see a pullback as an opportunity with 1.0360, a fresh resistance to confirm a turnaround in the market.
USDJPY testing triple bottom
The Yen fell lower as the greenback looked to assert its dominance across the board. The recent choppy action below the recent high of 156.00 could be a mere consolidation phase, even though short-term volatility cannot be ruled out. A break below 154.00 would lead to 153.40, forcing intraday bulls to reconsider. A close above 155.50 is needed to alleviate the downward pressure.