EUR/USD
During the early hours of today’s trading session, the sellers prevailed and the support at 1.0900 was successfully breached. At the time of writing this analysis the euro continues to lose ground against the U.S. Dollar and the expectations are the bearish trend to continue heading the pair towards a test of the next significant support at 1.0800. In the upward direction, if bulls re-enter the market, the correction should be limited to the first resistance level at 1.0900. This week, the investors will be expecting the announcement of the European Central Bank interest rate decision (Thursday; 12:45 GMT) and Lagard’s press-conference shortly after that.
USD/JPY
The support zone at 114.75 withheld the bearish attack and the U.S. Dollar recovered some of its recent losses and, at the time of writing, the pair is trading above the mentioned zone. A test of the resistance at 115.18 is highly possible but if the bullish momentum fades, then a successful test of the support zone at 114.75 could lead to a downward movement towards a test of the next support at 114.50.
GBP/USD
In the early hours of today’s trading session, the appreciation of the U.S. dollar continued and, the pair successfully violated the support zone at 1.3214, and if the bears manage to maintain their control over the market, a test of the next support at 1.3150 is a possible scenario. However, if the bulls re-enter the markets we may witness a corrective move towards the resistance at 1.3271.
EUGERMANY40
The German index began the day with a new sell-off and over 3% decrease in its price. The panic sell-offs caused by the uncertain situation with the conflict between Russia and Ukraine seems to continue and the bulls cannot manage to gain control to limit downward movement. The expectations are the sell-offs to deepen and the index to head towards a test of the psychological level at 13000. High volatility could be expected during today’s trading session and, if the bulls manage to take control over the market, then the price could make a corrective move towards resistance at 13300 before the bear’s pressure continues.
US30
After recovering from Friday’s session, the U.S. blue-chip stock index opened with a negative gap today, losing more than 1.1% of its value at the time of writing. The losses were largely driven by the growing concerns about the economic consequences spurred from the Russia – Ukraine conflict. A confirmed breach of the 33147 area would open an opportunity for the bears to instigate an additional sell-off and to attack the next support zone at around 32700. Negotiations between the warring parties remain at the forefront, the outcome of which would be the main factor determining the future of the index. Any planned economic news this week that could affect the volatility of the U.S. index has already been mentioned in the EUR/USD analysis.
