Nasdaq 100, Dow And Dax All See Sharp Losses

Date

8/4/2024 8:31:27 AM

(MENAFN- DailyFX) ow and Dax all see Sharp Losses Skip to Conten

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12:00:00 Medium Industrial Production MoM (Jun) Actual Forecast 2.4% Previous Revised -0.9%
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Host: Duration: min 11:16:30 widgets/economicCalendar._abbr () Actual Forecast Previous Revised EUR/USD Mixed
1h Last updated: Aug 2, 2024
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Data provided by News EUR/USD IG Client Sentiment: Our data shows traders are now net-long EUR/USD for the first time since Jul 03, 2024 when EUR/USD traded near 1.08. 2024-08-01 10:23:31 Retail Sentiment Analysis – EUR/USD, USD/JPY Latest 2024-08-01 07:45:42 Oil - US Crude Bearish

1h Last updated: Aug 2, 2024

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Data provided by News Retail Sentiment Analysis: AUD/USD, Oil, S&P 500 Positioning 2024-08-02 08:23:24 Gold, Oil Rally Sharply as Middle East Tensions Escalate; US FOMC, NFPs Near 2024-07-31 13:00:48 Wall Street Bearish

1h Last updated: Aug 2, 2024

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Data provided by News Nasdaq 100, Dow and Dax all see Sharp Losses 2024-08-02 11:00:49 Dow, Nasdaq 100 and Dax make gains in early trading 2024-07-31 11:00:00 Gold Bullish

1h Last updated: Aug 2, 2024

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Data provided by News Gold, Oil Rally Sharply as Middle East Tensions Escalate; US FOMC, NFPs Near 2024-07-31 13:00:48 IG Retail Sentiment Analysis: Gold, Oil, and USD/JPY Positioning Outlook 2024-07-30 13:00:48 GBP/USD Bearish

1h Last updated: Aug 2, 2024

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Data provided by News Bank of England Narrowly Votes for 25-Bps Cut – GBP, Gilts Little Changed 2024-08-01 12:05:30 British Pound (GBP) Latest – Will the Bank of England Cut Rates This Week? 2024-07-29 13:14:17 USD/JPY Bearish

1h Last updated: Aug 2, 2024

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Data provided by News Retail Sentiment Analysis – EUR/USD, USD/JPY Latest 2024-08-01 07:45:42 BoJ Hikes Rates to 0.25% and Outlines Bond Tapering, Yen Strengthened 2024-07-31 08:30:11 More View More

Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: -0.01% 🇪🇺EUR: -0....
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Nasdaq 100 slumps to recent lows
Dow back to trendline support
DAX at three-month low
Nasdaq 100 slumps to recent lows
Wednesday's gains were wiped out in a dramatic reversal on Thursday, which took the index right back to the lows of the week around 18,600.
If 18,600 is broken the lows from the end of May at 18,187 are the next level to watch. While the overall uptrend is still intact, the price is now below the 100-day simple moving average (SMA), having closed below this for the first time since 1 May.
Nasdaq 100 Daily Chart

Source: IG, ProRealTime
Dow back to trendline support
The index has returned to trendline support from the June lows, reversing the gains made over the past week.
A close below trendline support and below the May high then opens the way to 39,587. Below this lie the 50- and 100-day SMAs, not tested since early July.
Dow Daily Chart

Source: IG, ProRealTime
Recommended by Chris Beauchamp Get Your Free Equities Forecast Get My Guide DAX at three-month low
Thursday's drop has wiped out all the gains made since early June.
The index now sits at its lowest level since the beginning of May. A close below 17,790 would leave the price on course to test the 200-day SMA, and then the 19 April low at 17,400.
DAX Daily Chart

Source: IG, ProRealTime

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