Intraday Analysis - Friday, August 28

EURUSD moving lower

The euro(EURUSD) remains under pressure as the pair slides away from the 1.1700 level.

• The dollar has moved over 50 pips from the beginning of the week as all eyes are now on the Jackson Hole Symposium.

• As sentiment remains bearish, trend followers would look to jump in at the next pullback.

• As the RSI ventures toward the neutral area, 1.1620 is the first support and 1.1560 is a key level to keep the momentum going.

XAGUSD pushes for another high

Silver took a breather after the latest surge tested the 70.00 zone.

• Buyers will be looking for the next signal as the RSI opens a slight bearish divergence.

• A move towards 67.50 will be a sign of strong selling pressure.

• The price could carry the commodity above the psychological level of 70.00.

• 71.40 is the next target higher and would flush out the remaining selling interests.

GER 40 finds support

The global decline in indices across the board has weighed heavy on the Dax.

• The price has clawed back some losses from the recent sell-off and is testing a daily resistance.

• A bullish continuation would put buyers back in the driving seat.

• Moving above 26500 would pave the way for a bullish continuation.

• 26300 is the closest level to gauge whether there are enough sellers to trigger a rebound.

• Further down, 25950 would be a second and critical level of support.