EUR/USD
The bears ramped up the pressure with the start of the session of the single European currency.. The bulls failed to confirm their breacht of the resistance at 1.0054 and the bears took the upper hand, which resulted in the bearish investors managing to almost recoup yesterday’s losses at the time of writing. The bears are targeting the psychological barrier at 1.0000 first. If the bulls manage to limit the sell-off, then we could see another attempt to breach the resistance at 1.0054. Macroeconomic news that could have a strong effect on the currency pair, is the U.S. jobless claims data at 12:30 GMT and the manufacturing business activity Index at 14:00 GMT.
USD/JPY
The first September session for the Ninja began with a bullish breach of the key resistance at 139.00. The next resistance before them would be found at the 140.00 level. If the bears manage to get the upper hand, then we could witness an attempted attack on the support at 138.03, followed by the next one at 137.62. Macroeconomic news from the country of the rising sun is not expected to have a strong effect on the market today.
GBP/USD
On the first day of September, the British pound continued to lose ground against the dollar and bearish sentiment seems to have taken a hold of the market. At the time of writing the analysis, the bears are trying to confirm their support breach at 1.1618. If the Sterling still manages to “recover”, then we could witness an attempted attack on the nearest resistance at 1.1690, but given the current economic situation in the UK, the recovery will most likely be short-lived.
EUGERMANY40
On the first day of September, the British pound continued to lose ground against the dollar and bearish sentiment seems to have taken a hold of the market. At the time of writing the analysis, the bears are trying to confirm their support breach at 1.1618. If the Sterling still manages to “recover”, then we could witness an attempted attack on the nearest resistance at 1.1690, but given the current economic situation in the UK, the recovery will most likely be short-lived.
US30
In the U.S. blue-chip index, we are also witnessing success for the bears as they were able to confirm their breach at 31640, with the next support to overcome located at 31100. If the bulls manage to limit the sell-off, then we could witness an attempt to reach and breach the resistance at 31950. Despite this, the sentiment remains negative, given the worsening global economic situation and the fact that the Fed has started to reduce its balance sheet with $95 billion on a monthly basis.
