Daily Market Review 22 of August

The Dow Jones (13203.58, -0.51%) was affected by resistance and went down a bit but anyway it is too early to call it a reversal trend as the index has been in an uptrend since June. We can see the index going down to 13100 which can be a good support that might push it back once again. Dax (7089.32, +0.79%) has risen above its trend line (7025) and is now targeting 7150. Oil encountered some resistance and might dip towards 95-94 levels. Most likely it will move in the same slow manner without strong momentum. Gold (1639.40, -0.08%) rose above 1625 and is now aiming for 1650-60 in the short term. Silver (29.25, -0.60%) has risen above its trend line (28.70) and is now trying to grow to 30.00.


Speculation in the market for an immediate ECB action is making the Dollar weaker. The market will be looking for the Fed's meeting today to get some hints on further monetary easing.


The Euro (1.2462) has risen to 1.2470 as was anticipated and can continue its growth up to 1.2530 or even 1.2600. Support is near 1.2385 level.


The EURJPY (98.76) remains bullish for a test of 99.50-100.