In the world of financial markets, there's often a constant ebb and flow of events that impact various assets. Two notable players in this arena are the GER30 and EUR, and recent developments have brought them into the spotlight once again.

The EURUSD  Performance 

The pair is currently trading at a monthly support level at price point 1.07241. Traders should note that this is not a long-term move, but instead a possible short-term impulse to the upside. An inner and outer trend is put in place to monitor the breaking of the accumulation phase.

The resistance level at price point 1.07474 is put in place to monitor whether the price creates a new high. Traders can gear themselves for a 90-pip move to target at price point 1.08419. Traders should not engage if the price pushes and closes beneath the support area identified.

The GER30 Performance 

Price has been struggling to push to the targets suggested even though we see a break of a rising wedge. We last saw an update on 17 August 2023 and mentioned that traders should monitor the index because it has moments of extreme volatility where the price pushes in the opposite direction with extreme aggression.

Although this has occurred in the previous two weeks, it appears that the negative trend is once again continuing. After the breakthrough, we pushed below the support, and the retracement may be complete at this point, providing us with a more favourable move to the downside. Targets have not changed, remaining at price point 15265.

Read More: Traders Anticipate Bullish Waves On USDZAR & US30

 The NAS100 Performance 

NAS100 is currently trading below a monthly support level, we opened high at the start of September. We see the index pushing below the open on a current bearish run at the start of the month with possible support to be found at price point 15144.26. Traders can look for sell opportunities taking into consideration that this index is volatile, especially trading it on a shorter timeframe. The target was identified at 15144.26.

The fib fan has been put in place indicating a 61.8 break of the trend that pushed up to the start of September. For a follow-through on the downside to conservative traders, a break and close below 15301.96 can be monitored to enter.

Final Thoughts On This Analysis 

In the dynamic world of finance, markets are in a constant state of flux. The GER30's support breakdown is a reminder of the challenges and uncertainties that investors face. Meanwhile, the EUR's intraday strength offers a glimmer of hope for those looking for opportunities in the forex market. 

As always, it's crucial for traders and investors to stay informed, conduct thorough research, and consider their risk tolerance before making any trading decisions. Market dynamics can change rapidly, and being well-prepared is key to navigating these fluctuations successfully.