EUR/USD
The single European currency continues to lose ground against the dollar. The support at 1.0800 has so far managed to hold off the bearish pressure, but the overall market mood remains negative. 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 1.0907. The important news for this week, which is also expected to have an impact on the market, is the interest rate of the European Central Bank and Christine Lagarde’s press conference.
USD/JPY
The yen lost quite a bit of ground against the dollar, but unlike other major currencies, it has managed to move in a stable price range for the time being. A possible breach of the resistance at 115.70 would give the bulls a more serious advantage and enable them to test the next one at 116.15. That being said, the first resistance is more likely to hold off the pressure and so the currency pair is expected to return to the lower border of the support range at 114.50.
GBP/USD
The support at 1.3150 was overcome and the price of the currency pair manages to stay below it for now. In case the bulls manage to return to the market, their first goal would be to overcome the resistance at 1.3150. Having the negative sentiment in mind, the movement is more likely to continue downward, overcoming the established minor support at 1.3099 and moving towards a test of the next important support at 1.3072, as seen from the higher time frames. Their first goal should be to overcome the resistance at 1.3150. Have in mind the negative sentiment, the movement is more likely to continue downward, overcoming the established minor support at 1.3099 and moving to test the next important support available at longer time frames at 1.3072
EUGERMANY40
During the last session, the German index managed to recover towards the resistance at 13145. This turned out to be a correction, and after the opening of the U.S. exchanges, the sell-offs resumed, bringing the index down towards the level of support at 12557. A more pronounced bullish return is unlikely for now, even with the breach of the more important resistance at 13305. If the situation in Ukraine does not improve, then the bears will likely continue to prevail and will direct the index towards the support at 12430.
US30
Although the U.S. blue-chip index performed better than its European equivalents, its losses on Monday reached the support at 32700. There is little chance of a breach and a consolidation above 34040, however. Should this scenario play out, however, then it could be interpreted as a signal for a possible price increase, which is expected to end at the next resistance at 34523. At the time of writing the analysis, the price is located at the level of 32800, the trends remain negative, and in case of a breach of the support at 32700, the bears might be able to re-test the next support zone at 32350.
