EUR/USD
The depreciation of the single European currency was limited to just above the support zone at 1.1322 and the expectations for today’s trading session are for the pair to consolidate in the range of 1.1322 – 1.1369. However, if the bears prevail in this situation and manage to violate the mentioned support, then it is possible to witness another wave of depreciation of the euro against the greenback, but this time – towards the next more significant support area at 1.1270. The first important resistance level for the bulls is located at 1.1370, where a breach may lead the pair towards a test of the psychological level at 1.1400. Today, increased activity can be expected around the release of the CPI data for the EU (10:00 GMT), as well as following any news concerning the situation in Ukraine.
USD/JPY
After the unsuccessful test of the resistance level at 115.70, the pair is now consolidating in the range of 114.90 – 115.26. A confirmed breach of the resistance at 115.26 would pave the way for the pair towards the next resistance at 115.70. On the other hand, if the bears regain control and manage to overcome the support zone at 114.90, then this would most probably result in an attack on the next support lying at 114.58.
GBP/USD
After the unsuccessful attempt of the bears to violate the support at 1.3540, the sterling recovered some of its losses against the U.S. dollar, and at the time of writing this analysis, the pair is headed towards a test of the resistance at 1.3613. A successful breach of this level would most probably lead to a further appreciation of the sterling towards the psychological level at 1.3700. However, the mentioned resistance was an obstacle for the bulls many times during the last weeks and the expectations therefore are for this level to only be tested and for the pair to bounce back and make an impulsive downward movement towards the support zone at 1.3540.
EUGERMANY40
After the massive sell-off that began in the beginning of the week, the bears started to take their profits around the level of support at 14410 and the index partially recovered its losses. The recovery may be considered as a short-lived correction and the bears would probably try to regain control and head the price towards another test of the critical support level at 14410. A breach of this level could be considered as a signal for a continuation of the downtrend and the next target for the bears would be the support at 13550. In the opposite direction, the first significant resistance lies at 14839. The expectations for today’s trading session are for the trading activity to remain in the range of 14410 – 14839. The situation in Ukraine will remain the main driving force behind the price action during today’s session as well.
US30
The downtrend for the U.S. blue-chip stock index continues, with the bulls currently managing to limit the sell-off to just above the support at 33418. We may see a short-term upward correction towards the resistance at 34086, after which the downtrend could continue. A breach of the support zone at 33418 would significantly boost the sell-offs towards the psychological level at 33000.
