Following the unsuccessful test of the support level at 1.0460, the bulls entered the market and we witnessed an impulsive upward movement that was limited at the psychological level at 1.0600. If the EUR/USD manages to breach this level, then it would further rise towards the next key resistance at 1.0643. In case the resistance at 1.0600 withholds the bullish pressure, then the most likely scenario would be for the pair to continue trading in the range of 1.0540 – 1.1060. The most important news for investors today is the initial jobless claims data (12:30 GMT), which may lead to higher volatility.
The resistance level at 136.70 managed to limit the upward movement of the currency pair and the expectations for today’s trading session are for the USD/JPY to enter in a corrective phase and target the support at 134.66.
During yesterday’s trading session, the currency pair continued to trade in the range of 1.2320 – 1.2180, and in the early hours of today’s trading, it is headed towards a test of the support level at 1.2180. In case of a successful breach of this support, the pair would most probably head towards the next key one at 1.2010. If the bulls re-enter the market and manage to violate the resistance at 1.2320, then an upward movement towards the next one at 1.2400 is highly possible.
During the previous trading session, the German index managed to stay above the psychological level at 13000, and at the time of writing, it is traded in the range of 13000 – 13220. The forecasts for today’s trading session are for the bulls to attack the resistance at 13224, and a successful breach of this level may lead to an increase in the price towards the resistance at 13440. A possible decline below 13000 could deepen the sell-offs towards the next support at 12470.
Yesterday, the bulls could not gain enough momentum to violate the resistance at 30650 and the expectations for today’s session are for the bears to try and take control over the market in order to lead the price towards another test of the critical support at 29734. In case the bulls re-enter the market, then their target would be the resistance at 30920.