The Dow US 30 remains bullish
The Dow remains upbeat, with tech stocks and AI leading the way, as price action doesn’t look like slowing down. A move above 47800 validated another peak, prompting traders to wonder whether the bubble is about to burst. Any chance that a new round of selling could send the index below the weekend gap at 47200? The next bullish target of 48200 is the first obstacle to clear for a continuation.
USDCAD attempts to stabilise
The greenback gave away some of its previous gains after halting the early October rally. The pullback saw heavy resistance at the mid-1.4100 area. A close back above 1.4100 would help bulls regain control and send the pair to the previous peak. In the meantime, short-term sentiment remains cautious after a loss of momentum, which could attract more sellers, especially if buyers throw in the towel. 1.3900 is a key support to prevent the pair from losing more ground.
EURGBP maintains the rally
The euro capitalised on a weakening pound, with prices popping to another fresh high. On the chart, the euro’s break above 0.8800 indicates an extended bullish rally after the previous month-long correction. On the downside, 0.8740 is a fresh support level in case of a reversal on the fundamental news, as the RSI remains in the overbought area. If there are no surprises by the European Central Bank, then 0.8850 is the next target higher.