NAS 100(the Nasdaq) tech sell-off continues
NAS 100(the Nasdaq) continues its bearish trajectory as tech stocks dive lower.
- With another weekly low on the horizon, traders will be wondering if things can turn around.
- The third quarter of the year is hoping to be like the previous, with AI being the lead focus, pushing stocks higher.
- Should prices pull back, 29000 is the target higher, with 27750 the next level to crack for sellers.
EURUSD awaits rate decision
The dollar remains bullish after wiping off over 100 pips last week. The ongoing war and potential tariffs continue to dominate the market theme.
- The Fed is showing concerns over the spike in inflation.
- This week’s rate decision is expected to remain muted at 3.75%.
- Looking ahead, the dollar looks to continue its dominance as traders price in the prospect of a firm monetary policy.
- 1.1320 is a key support, and 1.1480 the first hurdle ahead.
XAUUSD attempting a fightback
Gold continues its choppy price action after moving to its lowest level in a week.
- The glow seems to have diminished, especially with treasury yields climbing and the dollar attracting more buyers.
- As prices bounce away from the psychological 4000 level, this becomes a critical support.
- A deeper correction would send bullion towards 3925.
- On the flip side, 4160 at the previous swing high is the first target for bulls.
Test your forex and CFD trading strategy with Orbex
