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The Euro caught an upside momentum and was able to post fresh peaks at 1.1985. Buyers failed to continue a recovery and let the rate to decline. Sellers pushed the major to the 1.1900 area where the spot started a day. A buying interest returned in the late European session. The price retested 1.1950 again and tried to continue its advance above the hurdle. The resistance resides at 1.1950, the support comes in at 1.1900.

We expect a further decline towards 1.1900 in the coming hours. Alternatively, a move above 1.1950 will increase buyers’ chances to retest 1.2000.



The pound significantly strengthened against the US dollar. Buyers pushed the major to 1.3600 where they lost steam. The GBP/USD pair bounced from the level and eased to 1.3550. The resistance lies at 1.3600, the support comes in at 1.3500.

We are long-term bullish and expect a further advance to 1.3700 in the coming days.



The pair continued its vertical rise in an ascending channel on Monday. The US dollar broke above 111.00 at the daily open. The rate extended its upward momentum afterwards and was able to reach 111.41 by noon. The resistance lies at 112.00, the support comes in at 111.00.

Despite a slowdown in its growth the pair’s further advance to 112.00 is still on the table.



The GBP/JPY pair held a bullish tone during the Asian session on Monday. The spot retested 151.00 and posted a daily high at 151.47. The pair turned bearish afterwards and eased below 151.00 heading towards 150.00. The resistance lies at 151.00, the support is at 150.00.

A firm break above 151.00 handle is needed to trigger fresh bid wave for attack at 152.00.



The spot met a barrier at 133.00 and had to retreat to 132.50 where the euro caught fresh bids and reversed all its recent losses after that. Buyers attacked 133.00 again and remained in its region this time. The resistance lies at 133.00, the support lies in at 132.50.

A move above the current hurdle will favor an advance up to the 133.50 region.



Bulls tried to extend their gains to 0.7350 but lost steam around the level. The NZD/USD pair surrendered majority of its recent gains afterwards retreating from the level. The rate eased to 0.7300 first and moved lower after a brief pause. The resistance is at 0.7300, the support stands 0.7250.

Bulls need to find fresh steam to return to 0.7350. We believe the 0.7250 handle is the best place for this.



DAX gapped upward at the open on Monday. The price jumped to 12600 and even was able to test the hurdle. The forces left buyers after that, the index turned bearish and started a decline. Sellers filled the morning gap by noon and continued driving the price to 12500 after that. The resistance lies at 12600, the support exists at 12500.  

Once we break above the 12600 level, we think that the 12700 level will be next. Meanwhile, we consider just short orders. Sellers are pushing DAX to 12500, a daily close below the level would risk 12400.



Buyers keep struggling with 6000. Friday’s attack at the level was again stopped, however, bulls managed to post a fresh high at 6012. The pair retreated after that and returned below the level. The resistance lies at 6000, the support exists in at 5960.

We believe will attack the current resistance one more time. However, they need to gather fresh steam for that. We do not rule out a brief drop to 5960 now.

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