Daily Market Review 24 of August

The Dow Jones (13057.46, -0.88%) continued its dip yesterday. The trend will most likely continue and the next goal is 12950. Dax (6949.57, -0.97%) is not supposed to start in decline. In the short term the forecast is bearish and the anticipated level is 6900-850 where the asset will meet a support. The Nikkei (9076.20, -1.10%) is expected to drop to 9000 and is expected to hold at this level being a support for the asset. The weakness of Dollar-Yen didn’t help the index to remain higher.  Oil (95.78, -0.51%) has encountered resistance at 98 and has declined to 93 which looks to be good support on the daily trading. In general Oil is in an uptrend since mid July. Gold (1667, -0.22%) broke out of its range of 1525-1630 and can rise up to 1680. Silver (30.44, -0.05%) also got out of the trading range of 26-29 on the upside and is on the way up at the moment.



Dollar remains pressured on the downside. So the Euro (1.2561) takes advantage of the US currency weakness and has chances of testing 1.2600-30 after which there can be profit taking for the currency.


The currency pair is still trading in the range 98-99.20 and within the range the picture is bullish and soon there might be a break above 99.20 and the pair might even reach 100 quite soon.