EUR/USD
The single European currency continued its twenty-day consolidation in the range between 1.0110 and 1.0270. During yesterday’s trading session, we saw a failed attempt to breach the upper border of the mentioned range by the bulls, but the bears again managed to put a stop to the buyers’ efforts to start a more sustained rally. At the time of writing the analysis, the bulls are still trying to breach the resistance, and if they manage to do so, then the next one before them would be found at 1.044. If the bears manage to overcome the lower border of the range, then they would find themselves “eye to eye” with the psychological support at 1.000 and we will witness parity between the euro and the U.S. dollar once again.
USD/JPY
Yesterday’s trading session for the Ninja was marked by a successful bearish breach of the support at 132.25. Today, the bears start the trading session with the same momentum as the previous day. By all accounts, they seem headed for the 130.53 support. If, on the other hand, the bulls manage to limit the sell-offs and restore yesterday’s positions, then they would face the resistance at 134.65.
GBP/USD
During yesterday’s trading session involving the sterling, the bulls managed to breach the resistance at 1.2282 as a result of the greenback’s weak performance across the board. However, their breakthrough was not confirmed and they lost their momentum. The bears took advantage of this weakness and were able to recover some of their positions. The next supports for them to overcome are those at 1.2207 and at 1.2108.
EUGERMANY40
Today’s trading session for the German index started hesitantly after the level at 13560 withheld the bullish attack once again, proving itself as a big hurdle for investors. At the time of writing the analysis, the most probable scenario is for a corrective move towards 13360 as a result of the upward impulse one from yesterday. If the sell-off gains steam, then the next level of support after the aforementioned level will be the one at 13086.. In case the bulls gain the upper hand, then their first resistance would be the level at 13358.
US30
Over the past few days, we saw a reduction in volatility, increasing the odds of the index entering a consolidation phase for a couple of days. If the bulls continue to hold the upper hand, then they will have to tackle the resistance at 33533 in order to continue their run. However, Nancy Pelosi’s visit to Taiwan prompted the Chinese to escalate their rhetoric, which resembled what we were hearing from Russia prior to the start of the war. This sank Asian markets, with the HONGKONG50 losing more than 3%. If tensions continue to rise, then the Asian sell-off could spread to the U.S. markets as well. A strong bearish attack, on the other hand, would lead the market towards the support at 32500.
