EUR/USD
Trading remains limited below the psychological level of 1.1400 as the bulls still cannot gain enough momentum to violate this zone. The expectations for today’s trading session are for the bears to re-enter the market and lead the pair towards a test of the support at 1.1330.. If this proves to be the case and the mentioned support succumbs to the bearish pressure, then the pair will most likely head towards the level at 1.1268. Only a breach of the resistance at 1.1400, however, may be considered a signal for an upward movement towards the critical resistance at 1.1480. Today, an increase in market volatility can be expected around the announcement of the initial jobless claims for the United States at 13:30 GMT.
USD/JPY
The resistance level at 115.70 is still holding off the bulls and the currency pair continues to trade in the range of 115.26 – 115.70. If the USD/JPY manages to breach the support at 115.26, then it would most probably head towards a test of the support at 114.97. However, before there is a confirmed breach of either border of the range, trading activity would most probably remain in the channel of 115.25 – 115.70. At the time of writing, the expectations are for the bears to take control over the market and lead the pair towards a test of the support zone at 114.76.
GBP/USD
The currency pair is still in а consolidation phase in the range of 1.3500 – 1.3600 and the bears cannot yet gain enough momentum to breach the critical support at 1.3500. However, the expectations are for the bears to take control over the market and to violate the mentioned support. A successful breach of this level may pave the way for the pair towards the next support zone at 1.3434 coming from the higher time frames. In an alternative scenario, in which the bulls prevail, the market may once again test the resistance level at 1.3600.
EUGERMANY40
The strong rally of the German index was limited to just below the resistance at 15460 as the bulls couldn’t gain enough momentum to violate this zone. The sentiment is rather negative – for a depreciation of the index and a test of the support at 15297, where a breach of this level would most probably lead to sell-offs towards the support at 15075. Only a confirmed breach of the resistance at 15460, however, would lead the price towards the next resistance level at 15562. During today’s session, the situation in Ukraine will continue to dictate the market sentiment and sharp moves in either direction can be expected.
US30
The resistance level at 35065 manages to hold off bulls’ attacks, and at the time of writing this analysis, the price of the index is in a slight decline. The expectations are for the sell-offs to deepen, heading the price towards a test of the support at 34420, where a possible breach of this level would most probably lead the index towards a test of the critical support at 33800. Alternatively, if the bulls return to the market, then we could easily witness a test of the resistance at 35340.
