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EUR/USD Steady Above 1.0900, Silver Below $27, US Stocks Await Inflation Data

By Research Team Monday, Aug 12, 2024
EUR/USD

    • 11.30amD1
    • High1.0922
    • Low1.0910
    • Close1.0918

EUR/USD is trading at 1.0918, 0.04% up since previous day close. During the early European session on Monday, the EUR/USD pair trades around 1.0920 with slight gains.   Amid growing tensions between Israel and Iran, the US dollar is in the lead. Prospective geopolitical uncertainties may restrict any attempts to go higher in the EUR/USD. The RSI touches 58.60, suggesting possible upside in the near future, according to daily chart analysis. 1.0901 and 1.0930 are the nearest points of support and resistance.

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Daily Outlook

EUR/USD

Intra Day
Near Day

Technical Levels

R3 1.0964
R2 1.0948
R1 1.0930
Turnaround 1.0915
S1 1.0901
S2 1.0880
S3 1.0785
By Research Team Monday, Aug 12, 2024
US100

    • 11.35amD1
    • High18577.00
    • Low18496.00
    • Close18537.00

US 100   is trading at 18539, 0.20% down since previous day close. With major inflation statistics anticipated this week, Wall Street enjoyed some steadiness following its erratic swings last week. Despite starting the week with sharp losses, Wall Street indices finished largely unchanged due to a combination of bargain hunting and some decreasing recessionary fears. According to the technical perspective, the RSI crosses 43.39, indicating potential gains in the short term. Resistance is at 18821, and nearest support is at 17704.

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Daily Outlook

US100

Intra Day
Near Day

Technical Levels

R3 19972.00
R2 19601.00
R1 18821.00
Turnaround 18274.00
S1 17704.00
S2 17243.00
S3 16904.00
By Research Team Monday, Aug 12, 2024
SILVER

    • 11.40amD1
    • High27.67
    • Low27.19
    • Close27.69

SILVER is trading at 27.62, 0.58% up since previous day close. Monday sees silver drifting lower for the second day in a row, trading below the mid-27.00s during the Asian session. But the white metal is still stuck in a wider range that it has been in for the previous week or so, and it appears that this downward trend could continue for another month or so. Technically speaking, the RSI touches 45.65. If it breaks through, it will reach resistance of 27.73, then 28.67, and support is 27.18.

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Daily Outlook

SILVER

Intra Day
Near Day

Technical Levels

R3 29.24
R2 28.67
R1 27.73
Turnaround 27.36
S1 27.18
S2 26.57
S3 26.17
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