EUR/USD
The single European currency continues to lose ground against the dollar. And while the support at 1.0460 has so far managed to hold off the bearish pressure, the overall market mood remains negative. A successful breach of this level would pave the way for the pair towards the psychological level at 1.0400. In case of positive news about the war between Russia and Ukraine, the trend could change and the bulls might return to the market. If that’s the case, then their first resistance is expected to be the level of 1.0580.
USD/JPY
The bulls are striving to head the pair towards a test of the resistance at 135.00, where a successful breach would pave the way for the USD/JPY towards the next key resistance level at 136.00. On the other hand, the impulsive upward movement that we have witnessed during the last trading session from the previous week, would most probably be limited to around the mentioned resistance zone, and the pair may therefore enter a consolidation phase in the range of 133.00 – 135.00. Only a confirmed breach of the support at 134.60, however, would be considered as an opportunity for the bears to recover their losses and lead the the pair towards the support zone at 133.00.
GBP/USD
The forecasts for today’s trading session are for the pair to make another attempt at breaching the support at 1.2180, which could be considered as a confirmation signal that the negative sentiment is here to stay and thus provide sellers with the opportunity to attack the support level at 1.2100. Besides the negative market sentiment, a short consolidation in the range of 1.2180 – 1.2250 is also highly possible during today’s trading session. The resistance at 1.2380 may be considered as a better entry point for the bears, which may deepen the sell-off towards the next critical support at 1.2100.
EUGERMANY40
The resistance zone at 13225 is still holding under the bulls’ pressure and the downtrend would most probably continue, opening the way for the bears towards the support at 13000. However, a short consolidation above the resistance zone at 13225 is also а possible scenario for today’s trading session. In case the bulls manage to keep the price above the level at 13224, then this could lead to a deeper correction and a test of the key resistance at 13648.
US30
At the time of writing this analysis, the consolidation phase is confirmed and the forecasts for today’s trading session are for the price to remain locked in the range of 29870 – 30240. The overall market sentiment is still negative and the price of the index would most probably continue to decline towards the next support at 29500, provided that the lower border of the range is breached first.
