EUR/USD
The euro continued to gain ground against the greenback and the currency pair tested the resistance zone at 1.0712. A confirmation of the breach could easily lead to a continuation of the recovery and could result in a rally towards the important zone at 1.0770. If the bullish momentum fades, then the bears could head the EUR/USD towards a test of the support zone at 1.0641. A successful violation of the lower target at 1.0601 may prompt a change in the current sentiment of the market participants and could deepen the decline towards 1.0500.
USD/JPY
The sellers prevailed during yesterday’s session, and after the successful breach of the support at 127.07, the Ninja tested the lower zone at 126.46. During the early hours of today’s session, the pair is trading above the mentioned level, but if the bearish attack continues, its potential violation could easily lead to new losses and could strengthen the negative expectations for the future path of the USD/JPY. The first target for the buyers is the zone at 127.07, which is now acting as resistance, followed by the upper level at 127.55.
GBP/USD
The bears could not gain enough momentum to successfully breach the support zone at 1.2501, and during the early hours of today’s session, the Cable is trading just above the mentioned level of support.. A new bearish attack is the most probable scenario, but only a violation of the mentioned zone could deepen the decline and could lead to a move towards the support at 1.2435. If the bulls enter the market, then a breach of the important resistance at 1.2599 could strengthen the positive expectations and could result in a rally towards the levels from April at around 1.3000.
EUGERMANY40
Neither the bulls, nor the bears managed to prevail and the German index remained limited in the zone between 13870 and 14150. A successful breach of the upper border at 14150, followed by a violation of the next target at 14278, could easily lead to new gains and could continue the recovery for the index towards 14400.The first support is the zone at 13900. A breach of the lower level at 13716 would strengthen the negative expectations of the market participants and could pave the way for the EUGERMANY40 for a test of the major support at 13542.
US30
The U.S. index regained some of its recent losses and re-tested the resistance zone at 31855. If the breach is confirmed, then this could easily lead to а more sustained rally and an attack on the upper target at 32744. If the bears prevail, however, then a violation of the support zone at 31574, followed by a successful test of the lower zone at 31223, would mark the current move as corrective and the US30 could head towards the local bottom at 30636. Today, increased volatility can be expected around the release of the FOMC meeting minutes at 19:00 GMT.
