Client Portal
Open account

Tech Stocks Plunge, Gold Weakens, Dollar Gains

(By ATFX Analyst Team)

Key Takeaways

On Tuesday, global technology stocks fell sharply due to profit-taking and concerns over AI valuations. The Nasdaq and S&P 500 reached their lowest levels in over a week, affected by semiconductor losses. There are growing worries that earnings expectations for high AI supply-chain valuations may be maxing out.

Today’s focus: U.S. May new home sales will gauge the housing market’s resilience, as strong sales may indicate stabilization amid changing interest rates, benefiting the dollar. For tech stocks, Micron’s earnings will influence market sentiment.

 

Global Market Recap

  • Equities: U.S. stocks closed lower as tech shares sold off. Chipmakers retreated from record highs. Dow -0.09%, S&P 500 -1.4%, Nasdaq -2.2%.
  • Bonds: Treasury yields fell as equity weakness drove safe-haven demand.
  • FX: The dollar rose to its highest in over a year.
  • Commodities: Spot gold dropped 1.96% to $4,108.35/oz. Oil prices weakened further, tracking U.S.–Iran talks and shipping flows through the Strait of Hormuz.

 

 

Key Events Today:

  • 09:30 Australia May CPI **
  • 16:00 Germany June Ifo Business Climate **
  • 20:30 U.S. May Building Permits **
  • 22:00 U.S. May New Home Sales **
  • 22:30 EIA Crude Oil Inventories **

June 25 (GMT+8):

  • 09:30 Australia May Unemployment Rate **
  • 14:00 Germany July GfK Consumer Confidence **
  • 20:30 U.S. May Core PCE Price Index ***
  • 20:30 U.S. Q1 GDP Final ***
  • 20:30 U.S. Initial Jobless Claims ***

 

Markets Analysis 24/06/2026

20260624 EURUSD Keys Instruments

  • Resistance: 1.1411 / 1.1476
  • Support: 1.1361 / 1.1308

The euro weakened for a second day as the dollar surged to a one-year high on Fed rate expectations, despite stronger Eurozone PMI data.

Analyst view: Break below March lows near 1.1400 opens downside toward 1.1361/1.1308.

Bias: Under pressure at lows

20260624 GBPUSD Keys Instruments

  • Resistance: 1.3228 / 1.3246
  • Support: 1.3150 / 1.3132

Sterling paused after PM Starmer’s resignation eased political uncertainty, but dollar strength capped gains.

Analyst view: Trading within last week’s low range; risk of testing 1.3150/1.3132 if adjustment deepens.

Bias: Sideways at lows

20260624 USDJPY Keys Instruments

  • Resistance: 161.77 / 161.90
  • Support: 161.37 / 161.25

Dollar/yen held firm but range-bound as traders remain wary of possible government intervention.

Analyst view: Consolidating at highs, caught between USD strength and intervention risk.

Bias: High-level consolidation

20260624 US Crude Oil Futures (AUG) Keys Instruments

  • Resistance: 74.92 / 76.13
  • Support: 70.91 / 69.68

Oil extended losses as U.S.–Iran talks showed progress, boosting Strait of Hormuz shipping flows. Uncertainty over Iran’s nuclear program still provides partial support.

Analyst view: Prices remain pressured near March lows but decline is slowing; consolidation likely unless talks advance further.

Bias: Low-level consolidation

20260624 Spot Gold (XAU/USD) Keys Instruments

  • Resistance: 4161 / 4203
  • Support: 4023 / 3981

Spot Silver (XAG/USD)

  • Resistance: 62.98 / 64.15
  • Support: 60.33 / 59.13

Gold fell as risk-off sentiment from tech sell-off outweighed geopolitical easing and oil weakness.

Analyst view: Break below $4,100 expands downside channel; focus on $4,024 and $4,200 support zone.

Bias: Under pressure at lows

 

Dow Jones Futures (US30)

  • Resistance: 51866 / 52076
  • Support: 51404 / 51202

Semiconductor slump dragged the Dow lower, though support at the 10-day MA helped limit losses.

Analyst view: Holding in high-level range; expect continued sideways volatility.

Bias: Range-bound

 

Nasdaq Futures (NAS100)

  • Resistance: 29707 / 30065
  • Support: 29129 / 28839

Nasdaq fell 2.2% as semiconductors plunged nearly 8%.

Analyst view: Break below key moving averages confirms exit from high range; watch for further downside toward 29,000.

Bias: High-level correction

20260624 Bitcoin (BTC/USD) Keys Instruments

  • Resistance: 64137 / 65327
  • Support: 61252 / 60306

Bitcoin fell Tuesday, reversing weekend gains as worries about rising U.S. interest rates and institutional selling pressured cryptocurrencies, amid a global tech sell-off.

Analyst view: BTC/USD reached a low not seen since June 11 before recovering. Immediate support is below 62,000, with resistance between 63,700 and 64,000 where major moving averages cluster.

Bias: Under pressure

Disclaimer: This analysis is for reference only. Enjoy Trading!

 

About the author

Martin Lam

 

Martin Lam is ATFX Chief Analyst for Asia Pacific, with over 20 years of experience in global forex and investment markets. He holds a degree in Finance and Economics from Deakin University and has held senior roles at leading FX brokerage firms.

More from Martin Lam

This market commentary and analysis has been prepared for ATFX by a third party for general information purposes only. Any view expressed does not constitute a personal recommendation or solicitation to buy or sell as it does not take into account your personal circumstances or objectives, and should therefore not be interpreted as financial, investment or other advice, or relied upon as such. You should therefore seek independent advice before making any investment decisions. This information has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. We aim to establish and maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. The market data is derived from independent sources believed to be reliable, however we make no representation or warranty of its accuracy or completeness, and accept no responsibility for any consequence of its use by recipients. Reproduction of this information, in whole or in part, is not permitted.

Recent News
Start Trading Now !

Try our demo account for free to learn trading. When you’re ready, switch to a live account and start trading for real.

Open Live Account
Open Demo Account
Popular posts
Learn more
with ATFX
Related Content

© ATFX.COM. All rights reserved.

ATFX is a co-brand shared by a group of entities including:

AT Global Markets (UK) Ltd is authorized and regulated by the Financial Conduct Authority (FCA) in the United Kingdom with registration number 760555. The Registered Office: Tower 42, Leaf 35C, 25 Old Broad Street, London EC2N 1HQ, United Kingdom.

AT Global Markets (Australia) Pty Ltd is authorized and regulated by the Australian Securities and Investments Commission with AFSL number 418036. The registered office: Tower 2 Darling Park, Level 16, 201 Sussex Street, Sydney NSW 2000.

AT Global Markets SA (Pty) Ltd is licensed in South Africa by the Financial Sector Conduct Authority with FSP license number 44816 and a licensed OTC Derivatives Provider. The registered office: Office 1801B, 18th Floor Portside Tower, 4 Bree Street, Cape Town, Western Cape 8001. ATFX SA and ATFX Connect are trading names of AT Global Markets SA (Pty) Ltd.

ATFX Global Markets (CY) Ltd is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under the license no. 285/15. The Registered Office: 159 Leontiou A’ Street, Maryvonne Building Office 204, 3022, Limassol, Cyprus.

AT Global Markets Intl Ltd is authorized and regulated by the Financial Services Commission with license number C118023331. The Registered Office: G08, Ground Floor, The Catalyst, Silicon Avenue, 40 Cybercity, 72201 Ebène, Republic of Mauritius.

AT Global Markets (SC) Limited is licensed by the Seychelles Financial Services Authority as a Securities Dealer with License No. SD093. The Registered Office: Suite 3, Global Village, Jivan’s Complex, Mont Fleuri, Mahe, Seychelles.

AT Global Financial Services (HK) Limited is authorized and regulated by the Securities and Futures Commission in the Hong Kong with license number BUM667. The Registered Office: 17/F, 80 Gloucester Road, Wan Chai, Hong Kong.

ATFX MENA Financial Services LLC is regulated by the Capital Market Authority (CMA) in the United Arab Emirates with Category 5 license number 20200000078.

EMERGING MARKETS is regulated by the Jordan Securities Commission authority as an Introducing Broker license number 643 and is the regulated entity in the Hashemite Kingdom of Jordan.

ATFX is a trade mark of AT Global Markets INTL LTD a company registered in Mauritius under FSC and all services in the Hashemite Kingdom of Jordan is offered through its Introducing Broker.

AT Global Markets LLC is a Limited Liability Company in Saint Vincent and the Grenadines with company number 333 LLC 2020. The Registered Office: Euro House, Richmond Hill Road, Kingstown, St. Vincent and the Grenadines.

ATFX (Cambodia) Company Limited in Cambodia is regulated by the Securities and Exchange Regulator of Cambodia with the license number 040.

HIGH RISK INVESTMENT WARNING: Trading Foreign Exchange (Forex) and Contracts for Differences (CFDs) is highly speculative, carries a high level of risk and may not be suitable for all investors. You may sustain a loss of some or all of your invested capital, therefore, you should not speculate with capital that you cannot afford to lose. You should be aware of all the risks associated with trading on margin. Please read the full Terms of Business.

Restricted Regions: AT Global Markets LLC does not provide services to residents of certain countries, including but not limited to Canada, Japan, Democratic People’s Republic of Korea (DPRK), Iran and United States of America (USA), or any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

ATFX

Restrictions on Use

Products and Services on this website are not available for Hong Kong investors and not related to any corporation licensed by the Securities and Futures Commission in Hong Kong.

All the information and materials posted on this website should not be regarded as or constitute a distribution, an offer, solicitation to buy or sell any investments.

使用限制：本網站的產品及服務不適用於香港投資者及與任何香港證監會持牌公司無關。

網站內部的信息和素材不應被視為分銷，要約，買入或賣出任何投資產品。

ATFX

Restrictions on Use

Products and Services on this website are not suitable for the UK residents. Such information and materials should not be regarded as or constitute a distribution, an offer, or a solicitation to buy or sell any investments. Please visit https://atfxgm.eu/en/ to proceed.

ATFX

Restrictions on Use

AT Global Markets (UK) Limited does not offer trading services to retail clients.
If you are a professional client, please visit https://atfxconnect.com