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What I Am Watching Today: NASDAQ, EUR/USD, USD/JPY and Copper

By: 
Christopher Lewis

The Nasdaq holds 29,000 support, EUR/USD faces downside risk toward 1.10, USD/JPY retains a bullish bias, and copper tests resistance near $6.59.

NASDAQ 100

NAS100 daily candlestick chart showing prices testing support near 29,000, below the 29,802 EMA, with U.S. Treasury yields.
NAS100 trades around 29,110, testing the 29,000 support area while remaining below the 29,802 exponential moving average.

The NASDAQ 100 does show a modest change in the sense that we gapped higher, fell, and then turned back around. Lower yields can help valuations for stocks, and maybe that’s what we’ll get a little bit of here. It’ll be interesting to see how this plays out.