EUR/USD
The European common currency recovered quite a bit of its recent losses against the greenback, and during the early hours of today`s trading, the pair tested the resistance zone at 1.1055. A confirmation of the breach, followed by a violation of the target at 1.1107, would strengthen the positive expectations for the future path of the pair and could easily lead to a rally towards the level at 1.1231. If the bullish momentum fades and the bears take control of the market, then the sell-off will most likely resume towards the support at 1.0936. A breach of the mentioned level could deepen the decline towards the major support at 1.0845. Today, an increase in market volatility could be expected around the announcement of the European Central Bank Interest Rate Decision (10:00 GMT), as well as during that of the U.S. Initial Jobless Claims data (13:30 GMT).
USD/JPY
The bullish sentiment remained intact and the dollar continued to gain ground against the yen. At the time of writing the analysis, the USD/JPY is headed for a test of the resistance zone at 116.15. A successful breach here could strengthen the positive expectations for the future path of the pair and could easily lead to new gains for the Ninja. The first target for the bears is the support zone at 115.73, followed by the lower level at 115.18.
GBP/USD
The support zone at 1.3099 successfully withheld the bearish attack and the pound appreciated against the dollar. At the time of writing, volatility has subsided and a violation attempt of the resistance zone at 1.3214 is the most probable scenario. A breach of the aforementioned zone could lead to a continuation of the recovery and a move towards the zone at 1.3271. If the bears re-enter the market and manage to take the pair below the support zone at 1.3099, then the sell-off could pick up some steam and head towards the levels at around 1.3000.
EUGERMANY40
The German index staged a once-in-a-decade rally, and at the time of writing, the EUGERMANY40 is still holding onto its gains. If the bulls continue to dominate and manage to push through the resistance level at 14062, then the rally will most likely continue towards the resistance at 14449. At the time of writing, a corrective move, resulting from the extreme price action yesterday, is currently in the works and the bears could make a push towards the support at 13345.
US30
The bulls did not manage to gain enough momentum to successfully breach the resistance zone at 33329, but during the early hours of today’s session, the US30 is still trading just below it. A new bullish move is a highly probable scenario, but only a violation of the mentioned level could continue the recovery and lead to a test of the next resistance zone at 33779. Worse-than-expected data for the U.S. Initial Jobless Claims (today; 13:30 GMT) could help the bears prevail. Violation of the support at 32929, followed by a breach of the lower target at 32359, could easily deepen the sell-off and strengthen the negative expectations for the future path of the index.
