EUR/USD
The beginning of the week started rather calmly for the single European currency. After the market opening, the rate remained in a narrow range between 1.0260 and 1.2050. The last week’s bull losses are likely to continue, unless they attempt to test the resistance at 1.0276 and relinquish their control over to the bears. They, in turn, will try to direct the course of the currency pair towards the support at 1.0240. The downward movement for the euro is probably not over, but the possible return of the bulls could be considered only after a breach of the resistance at 1.0309.
USD/JPY
The dollar continues to lose ground against the yen. The support at 133.26 was easily overcome by the bears and they are likely to head towards the area of the next support at 132.52. The return of the bulls can be expected only after a breach of the resistance at 134.40.
GBP/USD
The beginning of the session started calmly, and at the time of writing the analysis, the price of the currency pair is managing to hold its head above the support at 1.2134. As a result, we are likely to see a range move and a change in course towards the resistance at 1.2183. A signal that the bulls may return for a longer period on the market would be a breach of the resistance at 1.2291. If this does not happen, then the important supports that would make life difficult for the bears, would be the levels at 1.2063 and at 1.2020.
EUGERMANY40
At the end of last week, the German index breached the resistance at 13795 and managed to close above it. However, the beginning of the session started on a negative note as its opening price was below the previous week’s closing level of 13877. This is a signal that we may see a correction resulting in a breach of the level at 13795 and an attack on the next support at 13630. If that doesn’t happen and the bulls instead breach the resistance at 13883, then the next level that could hold them back and which is visible from the higher time frames, would be 13992.
US30
The U.S. blue-chip index managed to overcome the important resistance at 33650, and at the beginning of the new week, the bulls will probably have a new target – the level of 33890. However, the possibility for a correction and a potential bear return should still not be excluded. This, however, could only happen if the support levels at 33650 and 33304 are breached.
