EUR/USD
The pair still cannot break through the range 1.0170 – 1.0270 and the market is likely to remain in “standby” mode, as investors are cautious and expect the announcement of the Fed interest rate decision on Wednesday at 21:00 GMT. The level at 1.0270 seems to be a strong resistance for the bulls and the expectations are for the bears to try to take control over the market and attack the critical support at 1.0170, where a successful breach may be considered as a signal for a resumption of the downtrend. In this scenario, the sell-offs may deepen and the pair would most probably head towards the support at 1.0115. However, if the bulls prevail and manage to overcome the critical resistance at 1.0270, their next target would be the resistance at 1.0365.
USD/JPY
The pair bounced back from the resistance at 136.70 as the bulls could not gain enough momentum to violate this zone and to lead the pair towards the next resistance at 137.46. The forecasts for today’s trading session are for USD/JPY to continue its downward movement towards the support at 135.90 where a confirmed breach could easily deepen the decline and lead to a sell-off towards the support zone at 134.93.
GBP/USD
At the time of writing this analysis, the bulls are trying to break through the resistance at 1.2060 and a confirmed breach of this level would most probably lead the pair towards the next key resistance at 1.2120. In case the bears manage to keep the pair below the mentioned resistance, we may expect a downward movement and a test of the psychological level at 1.2000, where a successful breach would easily lead the pair towards the support at 1.1950.
EUGERMANY40
Neither the bears nor the bulls managed to gain enough momentum and lead the German index out of the zone between 13100 and 13350. The price is holding positions around the current level at 13166 and only a successful breach of one of the borders could signal the future direction of the index. A violation from the buyers could continue the recovery and could easily send the EUGERMANY40 towards a test of the zone at 13615. If the bears take control and breach the support at 13095, they could lead the price towards the next target at 12939, a violation of which could strengthen the negative expectations of the market participants.
US30
The U.S. blue-chip index is trading in the range with 31643 as support and 32045 as resistance. The bulls are experiencing serious difficulties around this area and the expectations are for the sellers to lead the price towards a test of the lower border of the range. A successful breach of this level would most probably result in sell-offs towards the level at 31076. On the other hand, if the bulls manage to overcome the resistance at 32045, their next target would be the area at around 32300.
