EUR/USD continued its rally on Friday. Buyers broke above 1.2050 during the night trades and approached 1.2100 in the morning. The level rejected the single currency to1.2050. The resistance resides at 1.2100, the support comes in at 1.2050.
The EUR/USD pair is likely to continue its growth. The 1.2100 hurdle limits its advance now. Should this level break and the spot will extend its bullishness towards 1.2150.
The 1.3100 level could slow down the pound just for a while. After spending half of the night at the level the major continued its advance and was able to post fresh high in the early European at 1.3146. The pair maintained its positive bias during the whole European hours and reached 1.3160 by noon. The resistance lies at 1.3200, the support comes in at 1.3100.
We remain bullish on the short-term outlook of the British currency. A move towards 1.3200 is on the cards now.
The USD weakness continued driving the USD/JPY pair downwards. Sellers pushed the price to 108.00 during the night trades and broke the level in the late Asian session. The spot remained under pressure during the European hours and was able to post a fresh low at 107.70. The resistance lies at 108.00, the support comes in at 107.00.
A close below 108.00 may suggest further weakness towards 107.00.
The EMA200 coupled with the 143.00 hurdle appeared to be unbreakable obstacle. The pair faced selling rejection around the resistance area and returned to the downside. The pound returned below 142.00 and stopped a few pips above 141.00 after finding support at EMA100. The resistance lies at 142.00, the support is at 141.00.
The pair seems to be heading downwards targeting to test 141.00 in the short-term. A move below this level shall increase pressure on the pound. In this scenario the major may weaken to 140.00.
The EUR/JPY pair found fresh offers around 131.00 which sent the market in the red territory. The spot started losing ground right after the level test. Sellers drove the price below 130.00 and almost reached 129.50. The resistance lies at 130.00, the support lies in at 129.50.
In the event that the sellers manage to force the below 129.50 a further extension towards 129.00 could be observed further.
Strong bullish sentiment is driving the pair upwards. The pair caught a fresh bid-wave and rallied towards 1.8100. The Aussie just pierced the level being unable to break it through. After unsuccessful test the spot gave up its recent highs and moved below 0.8100.The resistance is at 0.8100, the support stands 0.8050.
If AUD/USD stays below 0.8100 the pair may soften down to 0.8050.
DAX had a negative start to the day. The price gapped downwards and started the day at 12239. However, the index returned to the green area afterwards and was able to fill the gap. The price pulled back to 12300 where DAX spent the second part of the day. The resistance lies at 12300, the support exists at 12200.
The DAX index is overbought. Besides, buyers have problems with going upwards. We believe strong sellers won’t let them to extend gains and will do their best to send this price to 12100.
Buyers failed to fixate above 5960. After reaching the mark 5983 the index turned around and eased back to 5960. The resistance lies at 6000, the support exists in at 5960.
If NASDAQ beaks below 5960 the index may decline to 5900.
Read the full review on our site:
Starting from 06 June 2019, FortFS reduces spreads for 4 most popular contracts! From 06 June until 19 July 2019, the 4 most popular contracts spreads will be: EURUSDf: 0.8 GBPUSDf: 0.9 USDJPYf: 1.0 XAUUSDf: 3.5 Good Luck! Fort Financial Services – Citadel of trading
Dreaming of ruling the Forex universe? FortFS will help you realize your dreams! From 06 of May till 07 of June 2019 become the owner of a unique artifact called Alpha Bonus and subdue the financial element!