EUR/USD – Still Under Pressure
The EUR/USD remains under significant downward pressure, hitting new lows almost weekly since late September. While a reaction at the support level of 1.03757 USD indicates initial demand after weeks of decline, further lows below last week’s 1.0332 USD could trigger another depreciation wave, possibly heading towards parity at 1.0000 USD.
A short-term technical rebound toward 1.0519 USD is possible before bearish momentum resumes. A sustained move above 1.0519 USD could spark hope, potentially leading to a test of the 1.0637-1.0679 USD resistance zone.
Bitcoin (USD) – 100,000 USD Within Reach
Last week, Bitcoin came tantalizingly close to the 100,000 USD mark, only to retreat slightly below six figures. Over the weekend, the market entered a consolidation phase, with support expected around 92,000 USD. If buyers hold this level, a quick surge past 100,000 USD could follow, targeting 110,000 USD next.
However, if consolidation deepens and Bitcoin falls below 92,000 USD, a decline toward 86,700 USD or even 80,000 USD could be on the cards.
NASDAQ100 – Trendline Resilience
Despite uncertainty early last week, optimism prevailed for the NASDAQ100, which held firmly above the 20,493-point support level and its upward trendline. Closing the week above 20,690 points, the index looks set for gains toward 21,155 points, potentially hitting new all-time highs by November.
Nevertheless, a drop below 20,493 points could shift momentum, with potential declines to 19,751 points.
Costco Wholesale – New Record Highs
Costco Wholesale reached a new all-time high of 976.30 USD last Friday before slight profit-taking set in. The stock remains in a strong uptrend, demonstrating strength within the consumer goods sector.
As Bitcoin eyes 100,000 USD, Costco is on its way to 1,000 USD per share, possibly achieving this milestone within the week. Temporary dips toward 920 USD could offer buying opportunities. A drop below 918 USD might lead to a test of the spring-established uptrend, with further losses possible down to 870 USD.
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