(NAS100) Nasdaq attempts another record
The US dollar and Gold aren’t the only markets awaiting the next speech by President Trump, the (NAS100) Nasdaq, along with many stocks, is looking to break free from its current correction. As the index looks for some relief, the recent upswing in fortunes has given prices some breathing room before a potential drop. It could be a long road back as prices hover around 24000, with 23200 as the closest support.
EURUSD sliding lower
Another week and more gaps in the market open. With Donald Trump continuing his pursuit of further hostilities between his supposedly friendly neighbours, markets are on the brink of spiralling out of control. The recent volatility has seen 100-pip swings on the pair, and is looking to continue the trend if global tensions continue. Traders will be closely monitoring this week’s inflation data, as figures are expected to jump above 3%. 1.1440 is the next target lower as 1.1620 becomes a firm resistance.
XAUUSD looking for another record
Gold is another commodity looking for the next signal, as price action has taken a step back from its recent rally. A touch at 4800 was met with firm resistance as traders are not 100% committed to extending the bullish rally towards 5000. As global tensions continue and the Middle Eastern conflict does not look likely to end any time soon, gold could be in for a choppy month ahead. 4300 is the closest support, with 5000 the target ahead.