The EUR/USD exchange rate retreated sharply as market participants reacted to the rising odds that Kevin Warsh will become the next Federal Reserve Chair. It retreated to a low of 1.1925, down from the year-to-date high of 1.2077 ahead of the upcoming European Central Bank (ECB) decision.

Kevin Warsh to become next Fed Chair 

The EUR/USD pair retreated as the US Dollar Index (DXY) rebounded after the media confirmed that Donald Trump would nominate Kevin Warsh, an economist at the Hoover Institution, to become the next Federal Reserve Chair.

Trump and his officials met with Warsh on Thursday. He also confirmed that he will make his Fed Chair on Friday morning, with odds on Polymarket rising to 95%.

The dollar rose, and American equities surged because of the view that Warsh will be less enthusiastic to cut rates than the other contenders, like Kevin Hassett, Christopher Waller, and Rick Rieder.

The announcement comes a day after Trump called Jerome Powell a moron for not cutting interest rates in the last meeting. Trump advocated for cutting rates to as low as 1% despite his constant talk of the economy firing on all cylinders.

Recent data showed that the economy was doing well, with inflation being contained below 3% and the economy expanding by 4.4% in the third quarter of last year.

Still, there is a likelihood that Trump will get frustrated by his Fed nominee because he will be a member of the FOMC committee that is made up of 12 voting members. To cut rates, Warsh will need to convince the other committee members to do that.

ECB interest rate decision ahead 

The next major catalyst for the EUR/USD pair will be the upcoming interest rates decision, which will happen on Thursday next week.

In theory, such a decision should be a big deal for the pair as the ECB is one of the most important central banks globally.

However, the pair will likely react mildly to this decision as officials will likely leave interest rates unchanged. 

A Bloomberg poll published today shows that most economists expect the bank to leave interest rates unchanged for the remainder of the year and then start hiking next week.

The European economy is doing well, with most countries experiencing some growth. At the same time, inflation has moved to the target of 2.0%, meaning that the bank has no urgency to cut rates. A top analyst told Bloomberg:

“While a rapid US dollar depreciation remains a fat-tail event, the ECB would need to reconsider the balance of risks regarding euro-area inflation assuming further increases in the value of the euro.”

EUR/USD technical analysis 

The daily timeframe chart shows that the EUR/USD exchange rate has been in a strong uptrend in the past few months. It jumped to a high of 1.2077 this week and then pulled back to 1.1917.

The pair has remained above the 50-day and 100-day Exponential Moving Averages (EMA) and the Supertrend indicator.

It has retested the key support level at 1.1917, the upper side of the ascending triangle pattern. 

Therefore, the pair will likely continue rising as bulls target the key resistance level at 1.2100. This view will be confirmed if it moved above the year-to-date high of 1.2077.

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Crude oil price edged higher on Wednesday as weather disruptions and a weaker US dollar bolster the asset. At the time of writing, Brent oil was trading at $66.62 as the bulls gather enough momentum to break the resistance at $66.77. At the same time, the benchmark of US crude oil prices, WTI, rallied to its highest level in four months before easing slightly to $62.64. Nonetheless, once the weather-driven supply worries subside, the selling pressure will likely return. 

Crude oil price pauses at a crucial resistance level

Crude oil price has extended its previous gains as the extreme cold weather in the US disrupts production and heightens supply concerns. The winter storm has impacted oil exports from the country’s Gulf Coast with analysts estimating that about 2 million bpd were halted from the region over the past weekend. 

Subsequently, oil stockpiles in the coming weeks are expected to show significant draws. Signs of tighter supplies in the world’s largest oil consumer are set to continue supporting global prices. Recent data from the American Petroleum Institute (API) indicated that oil inventories dropped by 0.25 million barrels compared to the expected build of 1.45 million barrels. Analysts expect EIA’s official data to show a draw of 0.20 million barrels from the previous week’s increase of 3.60 million barrels. 

Notably, a weaker US dollar is also supporting crude oil prices. Ordinarily, a decline in the value of the greenback makes the commodity less expensive for buyers holding foreign currencies. 

On Tuesday, the dollar index plunged to its lowest level since February 2022 at $95.56. While it has since eased to $96.21, it remains under selling pressure amid the worries over the US policies and politics. Interestingly, when asked about the value of the dollar, President Trump has asserted that it is “doing great”. 

Meanwhile, the amount of Russian oil being pumped into tankers is increasing as buyers pullback. Recent data indicate that Russian oil exports to India were at 1.12 million barrels a day as of 25th January. This follows the slump recorded last month when India’s Russian oil imports plunged to a three-year low at 1.2 million bpd. This drop has caused a surge in oil tankers idling along the coast.  

Brent crude oil price technical analysis

The benchmark for global oil prices, Brent, is on the verge of a breakout after rising past the long-term 200-day EMA as seen on its daily trading chart. It is also finding support in the formation of the bullish golden cross pattern, formed about a week ago when the short-term 25-day EMA crossed the medium-term 50-day MA to the upside. 

Amid the weather disruptions and supply woes, the bulls are keen on breaking the crucial resistance at $66.77. At the time of writing, it was trading at $66.62. If successful, crude oil price may pause at $67.73. Even with a further increase, I expect Brent oil price to face steady resistance at $68.62. On the flip side, a pullback past its current support level of $66 will likely activate the lower level of $64.50.

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Texas Instruments stock price continued its strong rally after publishing strong results and forward guidance. The TXN stock jumped to a high of $196, its highest level since September 3. It has soared by nearly 30% from its lowest level in December.

Texas Instruments’ business is thriving

Texas Instruments, a major player in the semiconductor industry, reported relatively strong financial results. Its revenue rose by 10% in the fourth quarter to over $4.42 billion, higher than what analysts were expecting.

This growth is a sign that customers have pared back their inventories and started buying again. Growth is happening across various industries, such as the automobile and factory sectors.

The company also boosted its forward guidance. It now expects that its first quarter revenue will be between $4.32 billion and $4.68 billion, higher than what analysts were expecting. 

Data compiled by Yahoo Finance shows that the average revenue estimate among Wall Street analysts is $4.42 billion, up by 8.7% from the same period last year. 

Most notably, analysts expect that its acceleration will continue. The average estimate is that its annual revenue will be $19.17 billion this year, a 8.40% increase from what it made last year.

Organic growth will then grow by 10% this year to $21.15 billion. Similarly, the earnings per share is expected to rise from $6.18 this year to $7.15 in 2027.

Texas Instruments’ business often goes through booms and busts because of its industry. Unlike the flashy semiconductor companies like AMD and NVIDIA, it makes relatively boring chips. It makes analog chips, which convert real-world inputs into electronic signals. 

Texas Instruments is also benefiting from the ongoing artificial intelligence (AI) boom. Its data center segment continued improving, a trend that the management expects will continue.

READ MORE: Texas Instruments shares tumble 8% on weak outlook as analysts cut targets

TXN valuation concerns remain

Texas Instruments’ management has done well to turn around the business. It slowed production as inventories rose, and the company has continued to reward its shareholders. 

The challenge, however, is that the company has become a highly overvalued one. Its forward price-to-earnings ratio remains at 35, much higher than the sector median of 25, and higher than the five-year average of 26. 

The company’s forward EV/EBITDA of 10 is higher than the sector median of 3.6. This explains why the stock is trading higher than the average analyst estimates.

Texas Instruments stock price analysis 

The daily chart shows that the TXN stock price has rebounded in the past few months. It has jumped from a low of $152.7 in December to over $200 today.

The stock formed an inverse head-and-shoulders pattern, a popular bullish reversal sign. It has now moved above the neckline at $186 and formed a golden cross pattern.

Therefore, the most likely scenario is where the stock will keep rising as bulls target the key resistance at $218, its highest level in July last year. This target is about 11% above the current level.

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The Japanese yen has staged a strong comeback in the past few days as investors focused on its potential intervention and the latest actions by the Federal Reserve. The USD/JPY pair was trading at 153, down by 4% from its highest level this year.

Concerns about Japanese yen intervention remain

The USD/JPY exchange rate has been in focus in the past few weeks as concerns about the Japanese economy continued. It crashed last week after media reports suggested that Donald Trump’s administration was willing to help Japan intervene.

The pair then rose slightly this week after Scott Bessent announced that the US will not intervene. This is notable as Bessent is a well-known figure in the forex industry because of his role in collapsing the British pound in the early 1990s.

Market participants are concerned on whether Japan will succeed in going solo in intervening in the forex market. In a note, an analyst from CBA said:

“Without US involvement, any intervention by the Ministry of Finance  alone would be far less effective in countering downward pressure on the yen, meaning any post-intervention gains are likely to fade quickly.”

Why the Japanese yen needs intervention 

The Japanese yen has been in a freefall in the past few months, with the USD/JPY exchange rate soaring from a low of 139 in April last year to a high of 160 this year.

This performance accelerated after Sanae Takaichi became the prime minister and embraced Shinzo Abe-like policies. Her initial policy was a large stimulus program that she aimed at solving the inflation situation. She now plans more stimulus, including tax cuts if she wins the election in February.

Takaichi also took a more hawkish stance on China, a top trading partner. She vowed that her government would step in to help Taiwan if Beijing attacked, a move that infuriated Beijing.

The Japanese yen has crashed despite the ongoing divergence between the Federal Reserve and the Bank of Japan (BoJ). The BoJ has embraced a more hawkish tone and hiked interest rates to the highest level in three decades. It has hinted its willingness to continue hiking rates this year.

The Federal Reserve, on the other hand, left interest rates unchanged on Wednesday, and analysts believe that its next move will be lower. Besides, Donald Trump will soon announce the potential Jerome Powell replacement. He has maintained that the potential replacement will be one who will be willing to cut rates aggressively.

USD/JPY technical analysis

The daily timeframe chart shows that the USD/JPY exchange rate has suffered a harsh reversal in the past few days, moving from a high of 159.40 to 153 today. It remains below the crucial support level at 154.3, its lowest level in December last year.

The pair has crashed below the 23.6% Fibonacci Retracement level. It also moved below the 50-day and 100-day Exponential Moving Averages, and is now in the process of forming a bearish flag or pennant pattern.

Therefore, the most likely scenario is where it continues falling, potentially to the 50% retracement level at 150.

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The Swiss franc continued its strong rally this week and is now trading at its highest level since August 2011. The USD/CHF pair was trading at 0.7655, down by over 16% from its highest point in 2025. This article explores some of the top reasons the pair has more downside to go.

Swiss franc is benefiting from its safe-haven status

The main reason behind the ongoing Swiss franc surge is that it has emerged as a safe-haven asset as risks continue rising.

The most recent risk came from Donald Trump, who has warned that he would attack Iran if the country does not reach a nuclear agreement with the United States.

Trump has sent an armada to the region and is under pressure from neocons like Senator Lindsey Graham, Mark Levin, and Mike Pompeo to attack.

Most analysts believe that the US will attack the country soon, with odds rising on Polymarket and Kalshi. Such a move will lead to more volatility globally as Iran has warned that it will retaliate against any attacks.

The Swiss franc has also jumped because of the ongoing fear that the US will go through another prolonged government shutdown next week because of the crisis on ICE and the Department of Homeland Security. Odds of a shutdown have continued rising this week, which explains why gold and silver prices have soared.

Additionally, there are concerns about the fiscal health of the United States as its public debt continues rising. Data shows that the debt has jumped to over $38 trillion, a figure that is soaring by $2 trillion a year.

US public debt will get worse if Donald Trump’s tariffs are ended by the Supreme Court. These tariffs are expected to curtail the debt pile-up by over $4 trillion in the next decade. At the same time, the Big Beautiful Bill is expected to boost the debt by over $6 trillion in the same period.

The US, under President Trump, has embraced a highly confrontational approach with friends and foes. For example, he recently threatened to impose tariffs on friendly countries like Germany, France and the UK. 

Switzerland is seen as a safe haven 

It is against this backdrop that many investors are turning to the Swiss franc, which is seen as a top safe country because of its neutrality.

The country has not been involved in military activities in the past decades and it often takes a neutral stance on most things.

Additionally, it is one of the best countries in terms of its finances. Switzerland has over $141 billion in public debt and a GDP of over $854 billion. The Swiss National Bank (SNB), while the Swiss National Bank holds over $850 billion in assets.

USD/CHF technical analysis 

The weekly chart shows that the USD/CHF exchange rate has been in a strong downward trend in the past few years. It recently moved below the lower side of the bearish flag pattern.

The pair has moved below all moving averages and the Supertrend indicator. Therefore, the most likely scenario is where it continues falling as sellers target the next key support level at 0.7500.

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At the start of the week, the silver price rallied to a fresh all-time high at $117.86 as precious metals continue with the steady bullish trend recorded in 2025. Notably, the session’s intraday gains were the highest since the global financial crisis in 2008. 

Amid the persistent geopolitical and economic uncertainties, heightened investment demand and a weaker US dollar has fueled the fresh silver price surge. However, the low gold/silver ratio points to a corrective pullback in the short term. Besides, financial markets are eyeing January’s Fed meeting. 

Rare gold/silver ratio points to a looming pullback

Silver price surged by about 150% in 2025; surpassing gold’s historic rally. This bullish trend has continued into the new year as the white metal benefits from its dual role as a safe-haven asset and crucial industrial metal. 

Since the start of the year, it has risen by close to 60%. However, it is showing some signs of exhaustion with the technicals suggesting that the rally is nearing its end. 

The gold/silver ratio plunged further below 50 on Monday before easing slightly on Tuesday. Notably, that is its lowest level since 2012. This indicates that silver price is trading at its highest level in 14 years relative to gold price. Even with the optimism over its steady industrial demand, the decline suggests a bubble in the silver market. 

In addition to the gold/silver ratio, investors will also be keen on the January Fed meeting. After months of division amongst the Fed officials, a steadier US labor market is expected to bring some consensus. As such, financial markets expect the central bank to pause on its interest rate cuts. What’s more, concerns over the Fed’s independence may override the year’s first interest rate decision.  

SLV silver price technical analysis

The iShares Silver Trust ETF hit a fresh record high on Monday before showing some signs of exhaustion. After extending its gains past $100 for the first time ever, SLV silver price pulled back to end the trading session at $98.34. 

However, a look at the silver bullion points to a rebound in the near term. Earlier on Tuesday, silver price erased most of losses recorded in the previous session. At the time of writing, the silver bullion was trading at $110.73; slightly below the record high hit on Monday at $117.86.

While the fresh price surge will likely attract more buyers, a healthy correction is expected in the near term. At an RSI of 81, the white metal is deep in the overbought territory. As the SLV ETF tracks the performance of the silver bullion, it’s set to follow its price path. 

In the immediate term, the entry of more buyers may bolster SLV silver price back above the crucial zone of $100. However, at an RSI of 79, a corrective pullback is on the horizon. Based on these technical indicators, the range between the all-time high at $106.82 and the resistance-turn-support level of $93.20 is worth watching.

A further pullback would activate the lower support zone of $87.44. On the flip side, heightened bullish momentum may give the bulls a chance to refresh the all-time high towards a new high at $110.   

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Waste Management stock price has rebounded in the past few months, helped by its recent dividend and buyback hikes. WM jumped to a high of $230 on Monday, up by 20% from its lowest level in October. The rebound has pushed its market capitalization to over $92 billion.

Analysts have mixed opinions about WM stock ahead of earnings

Some Wall Street analysts are largely optimistic about the Waste Management stock ahead of its earnings. Jerry Revich, an analyst from Wells Fargo, boosted his target for the company from $238 to $246.

Similarly, a UBS analyst boosted the outlook from $225 to $263 while Oppenheimer raised the target from $262 to $265.

However, other analysts have recently reduced their estimates for the company, citing its slow growth. Barclays reduced the estimate from $266 to $265, while Citigroup reduced from $270 to $263.

As a result, the consensus target for the stock is $251, representing a 9% increase from the current level. The target has risen slightly from $248 a month ago.

Waste Management earnings ahead 

The next main catalyst for the stock is its upcoming earnings, which will come out on Wednesday this week.

Data compiled by Yahoo Finance shows that the average estimate is that its revenue will be $6.39 billion, up by 8.38% from the same period in 2024. This revenue will bring its annual figure to $25 billion, up by 14.65% because of its Stericycle acquisition.

The company’s revenue is then expected to move to $26.64 billion, up by 5.30% from 2025. Also, its earnings per share (EPS) is expected to come in at $7.51 from the $7.23 it made in the same period in 2024.

The most recent results showed that its revenue rose to $6.4 billion from $5.6 billion, while its operating EBITDA rose to $1.7 billion, while its net income slowed to $603 million. The CEO said: 

“Strong results across all aspects of our business reinforce our confidence in achieving our full-year earnings and free cash flow guidance, as well as our long-term financial objectives and strategic priorities.”

Waste Management stock price technical analysis 

WM stock chart | Source: TradingView

The three-day chart shows that the Waste Management stock price has rebounded in the past few months, moving from a low of $193 in October to the current $230.  

It formed an inverse head-and-shoulders pattern, a common bullish reversal sign. The stock has moved above the 50-day and 100-day Exponential Moving Averages (EMA) and is slowly nearing the all-time high of $240. 

The Relative Strength Index (RSI) has continued rising, while the Average Directional Index (ADX) remains at 32.5.

Therefore, the most likely scenario is where the stock continues rising as bulls target the all time high of $239. A move above that level will point to more gains to $250.

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The Dow Jones Index Futures rose and is nearing the all-time high as investors waited for key earnings from its constituent companies, the Federal Reserve interest rate decision, and the potential government shutdown. It rose to $49,412, a few points below the all-time high of $49,630.

Dow Jones Index waits for key corporate earnings 

The Dow Jones Index is hovering near its all-time high as top constituent companies release their fourth-quarter and full-year financial results.

UnitedHealth, a major insurance company, will be the first one to publish its numbers on Tuesday before the market opens. Its numbers come a day after its stock dropped sharply after the Trump administration proposed nearly flat rates for Medicare Advantage. 

The new proposal entails a 0.09% net average payment increase for Medicare Advantage plans for 2027, which is much lower than what analysts were expecting. Wall Street was expecting the increase to be between 4% and 6%.

Boeing will also publish its financial results during the market. Other key companies that will publish their numbers on Monday will be RTX, NextEra, Union Pacific, and Northrop Grumman.

The most important Dow Jones constituent companies to publish their results this week are Microsoft, IBM, and Apple. These three companies are major players in the booming artificial intelligence (AI) industry.

More non-Dow Jones Index companies that will be Tesla, Lam Research, GE Vernova, Starbucks, Waste Management, and General Dynamics.

Federal Reserve interest rate decision

The other main catalyst for the Dow Jones Index is the upcoming Federal Reserve interest rate decision. Historically, the first rate decision of the year is important as it sets the tone for what to expect during the year.

Experts and traders on Polymarket believe that the bank will leave interest rates unchanged between 3.50% and 3.75%. Recent data showed that the US economy is doing well, with the GDP expanding by 4.4% in the third quarter. 

The labor market has started to improve, while inflation has remained near the bank’s 2% target. A dovish tone will likely boost the Dow Jones and other US indices.

US government shutdown

Meanwhile, data compiled by Polymarket shows that odds of a government shutdown have jumped in the past few days. These odds have risen to 80% from 78 per cent during the weekend.

Government shutdown odds | Source: Polymarket

Odds of a government shutdown have jumped because of the recent killings by ICE and the Border Patrol. Democrats have insisted that they will only provide votes to fund the government if it has provisions to reform ICE and other security agencies.

In theory, a government shutdown should be bearish for American equities. However, historically, the stock market has done well when there is a shutdown because they always end. 

Trade concerns remain, but TACO provides hope

Meanwhile, market participants are concerned about trade issues. In a statement, Donald Trump threatened to impose a 25% tariff on goods coming from Canada if it inks a trade deal with China. 

Canada has rejected these claims and noted that it only struck a limited deal with China. It reduced its tariffs on electric vehicles from China, while China reduced levies for its canola product.

The US also threatened a 25% tariff on goods from South Korea after the delayed ratification of the deal made last year. 

On the positive side, there is a concept known as TACO, which means that Trump always chickens out from his big threats. Analysts believe that he will likely not implement these tariffs.

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The US natural gas prices began the new week on its front foot; trading with a bullish price gap. The extreme weather experienced in recent sessions in most parts of the US has heightened the heating demand while disrupting supplies. Even so, the inventories are still within the 5-year historical range, indicating that the disruptions will likely be short-lived.

Extreme weather prompts bullish price gap in the US natural gas market

Weather patterns have been a key driver of US natural gas prices in recent months. Less than two weeks ago, the benchmark Henry Hub futures dropped to a two-month low at $3.01 as warmer-than-normal temperatures defined the region’s winter season. 

The weather pattern has since shifted, with extreme temperatures being experienced in various parts of the US for about a week now. According to NatGasWeather, a dangerously cold weather system is set to cover the Plains, Midwest, and Texas as the week progresses. It will then spread to eastern US with lows of -20s expected in coming days.

 Furthermore, it forecasts that heating demand will escalate by the weekend. The predicted surge in demand and subsequent disruptions in supplies is what has bolstered US natural gas prices past $6 per million British thermal units for the first time since December 2022.  

Despite the heightened concerns, the amount of natural gas in storage has remained at comfortable levels. According to the Energy Information Administration (EIA), the inventories dropped by 120 Bcf in the week that ended on 16th January compared to the previous week. However, the stockpile was 141 Bcf higher than a similar period in 2025. It is also 177 Bcf above its five-year average and 5-year historical range. Based on these figures, the supply disruptions will likely be short-lived. 

US natural gas price technical analysis

Henry Hub natural gas futures rallied above $6 per million British thermal units for the first time since 2022. Earlier on Monday, the futures for February delivery rose by about 19% to an intraday high of $6.29. At the time of writing, it was trading slightly lower at $6.22 per MMBtu. 

In the past week, natural gas prices had rallied by 70% to record their highest weekly gain since 1990. Prior to that, it had recorded three consecutive weekly losses as weather patterns continued to shape the short-term demand outlook.

A look at its daily trading chart points to further gains in the ensuing sessions. Since late October 2025 when the 25 and 50-day EMAs formed the bullish golden cross pattern, the short-term MA has held steady above the medium-term MA. Besides, at an RSI of 67, the US natural gas price still has room to surge further before getting into a corrective pullback. 

At its current level, the asset will likely face resistance at $6.46. This may place it within a range as $5.69 remains a steady support zone. With entry of more buyers, the bulls may succeed at breaking the resistance towards its next target at $6.82. 

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The US Dollar Index (DXY) continued its strong downward trend, reaching its lowest level in over four years as the greenback crashed against most currencies, such as the Australian dollar and the euro. 

The DXY Index tumbled to a low of 95.55 ahead of the upcoming Federal Reserve interest rate decision, which will come out later on Wednesday.

Federal Reserve to hold interest rates steady 

The US Dollar Index continued its strong downward trend as traders waited for the upcoming Federal Reserve interest rate decision.

Economists polled by Reuters and Bloomberg and polls on Polymarket and Kalshi shows that the bank will leave interest rates between 3.5% and 3.75% in this meeting. It will be the first monetary policy meeting after the Trump administration filed grand jury subpoenas against the bank and Jerome Powell.

The most recent economic numbers support the case for not cutting interest rates. For example, a report released last week showed that the US GDP grew by 4.4% in the third quarter. Analysts expect the upcoming fourth-quarter report to show that the economy expanded by 5%.

US inflation has not surged because of Donald Trump’s tariffs as economists were expecting. It remained around the 2.6% level last month, and analysts believe that the downtrend will continue because of the ongoing gas prices and mortgage rates.

The labor market has started to stabilize as well, with the unemployment rate falling to 4.4% in January as the economy created over 50k jobs.

Therefore, Fed policymakers argue that the current rates leave them well-positioned to balance risks to employment and inflation. In a note, a Bloomberg analyst said:

“The FOMC is widely expected to hold rates steady at the January meeting, but the gathering could still go down as a consequential one. A decision to pause rate cuts will provoke another firestorm from a White House.”

Donald Trump supports a weaker US dollar

The DXY Index plunged after a report released by the Conference Board said that the country’s conference board dropped to the lowest level in a decade.

Meanwhile, Donald Trump said that he supports a weaker US dollar. Trump prefers a weaker dollar, which he expects will boost US exports.

Trump has taken several measures to weaken the US dollar. He has embraced an erratic policy-making approach, implemented sweeping tariffs on countries like Iran and Russia, implemented sweeping tariffs across other countries, and put more pressure on the Federal Reserve. 

Additionally, he has implemented deficit spending, and his leadership is putting the US at risk of another government shutdown on Monday next week.

US Dollar Index technical analysis 

The three-day timeframe chart shows that the DXY Index continued its strong downward trend on Wednesday, reaching its lowest level since February 2022.

It has moved below the key support level at $96.25, its lowest level in June and September last year. The index has moved below the bottom of the trading range of the Murrey Math Lines tool.

It has moved below the 50-day and 100-day Exponential Moving Averages (EMA), while the Relative Strength Index (RSI) has moved to the oversold level.

Therefore, the index will likely continue falling as sellers target the key support level at $93.75, the Strong, Pivot, and reverse of the Murrey Math Lines tool.

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