Nasdaq - Tech 100

US major Index, Nasdaq has been trading near the $15150 mark for the past six weeks. It is struggling to cross its resistance level of around $15200. Over the past week, it dropped to $14716 and returned to its resistance zone. Technically, bears are dominating the market movement. If there is any pullback, it might test the $14516-400 levels once it breaks the first support area of $14700. According to the daily chart, the MACD is forming a bearish divergence along with the SMA. While on the higher side, it needs to sustain above $15200 for any bullish momentum to continue.

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Gold - XAU/USD

Gold managed to recover from lower levels despite the strengthening of the US Dollar. From the $1680 flash low level, it managed to recover near the $1795 level within two weeks. Any weakening of the US Dollar Index in the coming weeks will strengthen the prices of gold. $1800 might act as the first resistance area, followed by $1835. In the event of a pullback, it might take support near the $1750 and $1711 area. The market will likely wait for more clarity on Friday 27th for the US Jackson Hole Symposium.

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Over the last week, the EUR/USD traded below 1.16650, which has not happened for the past eight months. Recent US unemployment data suggests the US might start tempering soon and strengthen the US dollar. Looking at the daily chart, EUR/USD is bearish, with support coming in at 1.16, below which it might continue to slide up to 1.156-1.15 levels. On the upside, it might be able to retrace to 1.18, and above that 1.195 will form the key resistance area.

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