EUR/USD
In the early hours of today’s trading session, the euro gained strength against the dollar and bounced back from the resistance level at 1.0490. The expectations for today’s trading session are for the bears to attack the support zone at around 1.0400. In the opposite direction, only a confirmed breach of the psychological level at 1.0500 would pave the way for the pair towards the next resistance zone at 1.0600. However, the market sentiment for today’s trading session remains negative, and we will most likely see further depreciation of the euro and a test of the support at 1.0400, where a confirmed breach would most probably lead to an impulsive downwards movement towards new lows at around 1.0300.
USD/JPY
The decline from the previous trading session was limited above the support at 135.40 and the bulls would probably try to lead the pair towards a test of the resistance at 136.47. A short-term consolidation in the narrow range of 135.43 – 136.47 should also not be excluded as a possible scenario for today’s trading session. A more bearish picture could only be drawn after a confirmed breach of the support at 135.43, and a deepening of the sell-offs may result in a steeper price correction, which may lead to a decrease towards the support at 134.30.
GBP/USD
The resistance at 1.2180 managed to hold off the bulls’ attack and the currency pair is likely to continue the downtrend, with the next target for the bears being the psychological level at around 1.2000. In case the bears lose their momentum and the bulls manage to violate the resistance at 1.2180, then the pair would most probably head towards the resistance at 1.2290.
EUGERMANY40
The expectations for today’s trading session are for the bears to re-enter the market and to lead the index towards a test of the key support at 12664, where a successful breach would be considered a signal for a possible deepening of the sell-offs. This, in turn, may lead to a decrease in the price, which is to be expected considering the overall micro- and macroeconomic environment in the EU at this time.
US30
The bears still manage to resist the bulls’ pressure and the index is currently trading below the resistance at 31000. The expectations are for the bears to prevail and to possibly lead the price towards the support zone at 30140. However, if the bulls manage to resist the bears’ pressure instead, then we may witness an increase in the price towards the level at 31350. Let’s not forget, however, that the fundamentals at the moment are definitely on the side of the bears, thus today’s forecast may suggest a decrease towards the support at 29748.
