EURUSD hitting rejection
The dollar struggles to maintain its dominance over the euro as trade-war rumours quiet down. The pair broke the 1.1900 level before moving lower, suggesting a deceleration in momentum. Support could be met with 1.1780 as a critical first target. A break higher will need confirmation above 1.1950, which would show that the upward bias remains intact, with 1.2000 waiting on the horizon.
XAGUSD grinds sideways
Silver (XAGUSD) was another instrument looking for direction as prices hover at the 75.00 area. The price was previously testing the top at 91.00 before being rejected from the recent sharp sell-off. As a firm impulse develops, a bullish breakout would trigger a rally, opening the door to the next psychological level of 91.00. In the meantime, after the RSI moves towards the neutral area, the metal could seek support again at 71.00.
NAS 100 holding on
The Nasdaq, as well as the stock market in general, looks to claw back losses from last week’s sell-off. The direction remains lower as pullbacks haven’t met with much enthusiasm. As the index looks for another push to fresh highs, resistance could be likely at 25400. Its breach could gather more interest and send the price above 26200. A break above that area could turn the mood around in the medium term. 24500 is the immediate support, with 24000 as the second line of defence.
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