EUR/USD
The bulls did not gain enough momentum to successfully breach the resistance at 1.0746, and during the early hours of today`s trading, the pair is hovering just below the aforementioned level. If the buyers re-enter the market, then a new attack on and a violation of the zone at 1.0476 could easily pave the way for a test of the upper target at 1.0800 and would strengthen the positive expectations for the future path of the EUR/USD. If the bears prevail instead, then they would most likely start moving towards the first support at 1.0641, a breach of which would deepen the decline towards the lower zone at 1.0544. The most impactful news from the economic calendar for this week is the announcement of the ECB Interest Rate Decision (Thursday; 11:45 GMT), as well as the U.S. Core CPI and Initial Jobless Claims data (Friday; 12:30 GMT).
USD/JPY
The positive sentiment remained unchanged, and after the breach of the resistance at 130.23, the dollar appreciated against the Yen. At the time of writing the analysis, the Ninja is hovering above the mentioned level and the expectations are for a test of the resistance at 131.22. A violation here could easily lead to new gains and will most likely result in a move towards the zone at 132.00. The first target for the bears can be found at the level of 130.23, which is now acting as a support, followed by the important zone at 129.54.
GBP/USD
The attack of the bulls was limited to the resistance zone at 1.2587 and the Sterling erased some of its recent gains against the greenback. During the early hours of today`s trading session, the pair is hovering above the major support at 1.2470 and a successful violation here could easily deepen the decline and could head the pair towards a test of the lower target at 1.2374. If the bulls take over instead, then a breach of the resistance zone at 1.2587, followed by another breach of the upper zone at 1.2657, would mark the current move as corrective. This would strengthen the positive expectations for the future path of the Cable and would further increase the odds of a more sustained rally.
EUGERMANY40
The positive sentiment remained intact, and during the early hours of today`s trading, the German index is holding its positions just under the resistance zone at 14580. A successful breach here could easily lead to new gains and could help ignite a rally towards the next important zone at around 14800. On the other hand, If the bullish momentum fades, then the bears could test the support zone at 14310, but only a violation of the lower target at 14100 could lead to a change in the current sentiment.
US30
The U.S. blue-chip index is currently testing the support at 32933 after last week’s volatile trading. If the price remains limited above the mentioned zone, then a bullish attack on the resistance at 33453 would be the most probable scenario. Only its successful violation, however, followed by a breach of the upper target at 33994, could strengthen the positive expectations and could lead to a more sustained upward move. Worse-than-expected U.S. Core CPI and Initial Jobless Claims data (Friday; 12:30 GMT) could help the bears prevail. If they manage to breach the support at 32551 and the one at 31969, then the sell-off will most likely deepen and the index might reach the local lows at around 31357.
