EUR/USD
The U.S. dollar recovered part of its losses during yesterday’s trading session, but the attack of the bulls was thwarted around the local resistance level at 1.0713. In the early hours of today’s session, the bulls seem to be losing momentum and the expectations going forward are for the pair to enter a corrective phase and head towards a test of the support at 1.0643. Only a confirmed breach of the mentioned level, however, would pave the way for the EUR/USD towards the critical support at 1.0544. If the bulls regain control over the market, then an upward movement can be expected and the pair would most probably head towards the resistance at 1.0746.
USD/JPY
The bears managed to limit the strong rally of the U.S. dollar around the resistance zone at 133.00 and the pair is currently consolidating in the range of 132.33 – 133.00. The forecasts are for the pair to bounce back from the resistance at 133.00 and to enter a corrective phase targeting the support at 131.80. However, the market sentiments remain positive – for a continuation of the uptrend. That being said, only a confirmed breach of the psychological level at 133.00 would pave the way for the pair towards the highs at around 134.00 – 135.00, which were last recorded back in 2002.
GBP/USD
The sterling gained ground against the U.S. dollar and tested the psychological resistance at 1.2600, but the bulls couldn’t gain enough momentum to overcome it. At the time of writing, the pair is hovering just below the mentioned level and therefore a corrective move towards the support at 1.2470 is a highly probable scenario for today’s trading session. However, a breach of the mentioned resistance may lead the pair towards a test of the next level at 1.2657.
EUGERMANY40
The German index returned above the resistance at 14580 and the bulls would probably try to keep control over the market and attempt to lead the price towards a test of the resistance at 14700. If this level is violated, then we may witness further appreciation towards the key resistance at 14800. In the opposite direction, in case the sellers overcome the local support at 14500, then a decline and a test of the support at 14310 is a highly possible scenario.
US30
The U.S. blue-chip index increased its value by approximately 600 points during yesterday’s trading session and the expectations are for the price to head towards a test of the resistance at 33453. A successful breach of this level would strengthen the positive sentiments for a further appreciation towards the psychological level at 34000. In an alternative scenario, where the resistance at 33453 resists the bearish pressure, we may instead expect a downward movement towards the support at 32550.
