EURJPY stuck in consolidation
 

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The Euro remains indecisive as prices consolidate for most of this month. On the chart, the pair seems a bit stuck after bouncing above 176.00, and the directional bias will remain to the upside if the quote moves above 176.80. This would prompt sellers to cover some of their positions, and with the pair avoiding a drop below 175.50, it suggests that buyers remain in the game. A close back above 177.00 could bring the pair to the recent peak of 178.10 and a step closer to a bullish continuation.
 

XAGUSD bounces off resistance
 

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Silver (XAG) moves away from its recent peak as sellers look towards a correction in the market. The price is hovering above the daily double bottom of 48.00, which is a critical floor to keep the precious metal afloat. A bounce above 49.60 would ease the pressure by flushing out short-term selling interests. The next step is essential in shaping a potential recovery. 48.50 is the first support to keep the momentum going as the RSI slides lower.
 

GER 40 slides lower
 

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The Dax stopped its rally as indices and stocks took a step back in the eurozone. The latest consolidation around 24400 indicates a sell-off could be on the horizon. A break below 24000 would force several bulls to close, stirring up volatility as they scramble for the exit. The level of 23700 at the base of the latest bounce could be the last stop before a further drop takes shape. The former resistance of 24700 is the target to the upside as the RSI progresses to the oversold area.

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