Buyers Stepping In On Dips Across Markets Amid Central Bank Hikes

The past week has been busy for traders and investors in various markets. One notable trend is that buyers are stepping in on dips, indicating a range-bound market. The NASDAQ 100, for instance, has seen this behavior as it approaches the 30,000 level, now serving as a ceiling.

In other markets, the euro has taken a hit due to the Federal Reserve's interest rate hike and suggestion of more increases to come. This has left traders reeling, as they initially thought the Fed might adopt a 'one-and-done' approach. Adding to this uncertainty is the European Union's energy supply concerns.

Gold, meanwhile, experienced volatility in line with expectations given the central banks' active roles. The market appears to be hunting for value, with the 50-week EMA holding as support. While there's a sense of bullish pressure underneath, gold traders should keep an eye on interest rates worldwide, particularly in the US, where higher yields could work against gold.