EURGBP awaits breakout
The euro attempts a comeback after being stuck in a downtrend for most of this month. Sentiment has improved after a spike led to a break past the 0.8800 level. The pair is now focusing on the next target at the latest peak above 0.8830. A close above 0.8850 would flush out remaining selling interests and propel the pair higher. On the other hand, a reversal of the recent gains would expose 0.8750 as the euro attempts to avoid another round of selloffs.
XAGUSD climbing higher
Silver creeps higher as the metal market reinvigorates itself, with buyers stepping back into the market. As the precious metal bounced away from the 49.00 region, the RSI’s overbought condition might give the sell side some clarity, which could prompt more bears to close their positions. Most bulls could still be sitting and waiting for signs of further progression. As 50.00 becomes the latest support, prices look to the previous swing high above 54.00.
NAS 100 keeps building
The Nasdaq continued to drive higher on the progressive outlook for tech and AI stocks. After breaking away from the current weekend gap, the latest rebound is encountering resistance around 25700, which suggests that the bears have not given up yet and are still probing for firm resistance. A break below 25300 at the top of the gap would force bulls to cover and trigger an extended rally towards 25000. On the upside, 26,000 is a key level that could help the index hit another record.
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