EUR/USD
During the last week, the single European currency was trading around the key level at 1.0565, but the week ended with a breach of 1.0565 – a level that already plays the role of the first important resistance. Today, the bears confirmed the breach of this level and are rapidly attacking the support level at 1.0480, a breach of which would draw a more bearish picture. However, if the bulls manage to tip the scales in their favour, then they would have to once more breach the key resistance level at 1.0565, with the next important zone being the level at 1.0630.
USD/JPY
The breach of the support at 129.30 and the subsequent unsuccessful attempts at breaching the next support zone at 128.66 represented the week for the Ninja. The bears’ attempt to reverse the upward trend of the greenback against the yen ended with the unsuccessful breach of the support at 128.66. Following their failure, the upward trend continued in full swing. At the time of writing the analysis, the bulls are aiming to breach the resistance at 131.23. If they are successful in their attack, then the most likely scenario would be for a move towards the resistance at 133.00.
EUGERMANY40
The bears continued to dominate the European markets, as over the past week, they managed to deepen the sell-off and cause a decline of almost 600 points in the German index. Today, with the opening of the markets, they managed to overcome the support level at 13559, and at the time of writing, the next goal for the bears would be to try and breach the level at 13400, with a corrective move towards 13560 shaping up to be a highly likely scenario.
US30
The U.S. blue-chip stock index began its trading session with a decline below 32607 and the bears now have the opportunity to gain even more ground if they manage to breach the next support level at 32333. The reason for this is that, despite the seemingly strong U.S. economy, the housing market is flashing warning signs as the treasury yields surge. Due to last week’s extreme volatility, the odds of a corrective upward move are rather high and the bulls could meet resistance at 33000. This week, important economic news that could affect the U.S. index, is the data on the main consumer price index for the U.S. (Wednesday; 12:30 GMT), as well as the data on the U.S. producer price index (Thursday; 12:30 GMT).
