The euro’s rally appears to be over. The euro buyers stopped at 1.2000 where sellers seized control. The pair sharply dropped and after breaking 1.1950 and 1.1900 levels tested 1.1850 on Wednesday. The level rejected the spot upwards. The euro was able to reverse some of its losses during the first part of the day on Thursday. The price pushed away from 1.1850 and recovered to 1.1920 during the European session. The resistance resides at 1.1950, the support comes in at 1900.
Sellers need to move below 1.1850 to extend their gains. Meanwhile, the euro will be well bid today. A fresh buying pressure may lead the spot to 1.1950.
After an unsuccessful attempt to retake 1.3600 the GBP/USD pair sharply dropped. A sell-off happened during the North American session on Wednesday. The pair pierced 1.3600 first and then suddenly turned around and fell to 1.3500 that day. The major spent the night at the level and remained unchanged during the European session on Thursday staying around its fresh lows. The resistance lies at 1.3600, the support comes in at 1.3500.
If the selling pressure persists a decisive break below 1.3500 could open the door towards 1.3400.
Bulls fought back control and pushed the spot to fresh highs. The pair rebounded from 111.00 and rallied towards 112.00. The US dollar regained the level during the night trades and advanced towards 112.50 afterwards. The resistance lies at 113.00, the support comes in at 112.00.
We assume that the yen will suffer more losses in the coming days. Our profit targets are 112.50 and 113.00.
A broad based the US dollar recovery weighed on the yen helping the GBP/JPY pair to regain some traction. The pair left the range 151.50 - 150.00 and moved upwards. Buyers reclaimed 151.00 in the early NY session and tested 152.00 in the night on Wednesday. The bullish sentiment remained intact on Thursday. The spot kept battling with the 152.00 hurdle. The resistance lies at 152.00, the support is at 151.00.
A break above 151.00 pointed to buyers’ growing strength. The pound is likely to extend its upward trajectory and may reach 153.00 in the coming days.
The pair failed to reclaim 133.50 and faced buying rejection around the handle. The euro pushed away from the level and sharply grew to 134.00. The resistance lies at 134.00, the support lies in at 133.50.
The pair may turn bearish if buyers fail to reclaim the current resistance. In this scenario a break below 133.50 will suggest to a further weakness towards 133.00.
The NZD/USD pair showed mixed trades on Wednesday. The NZD rallied and was able to reach 0.7430 where bulls lost momentum. The market became bearish after that sending the major to 0.7350 first. Sellers retook the level and continued their downward trajectory after that. The pair suffered more losses during the night and morning on Thursday. The NZD reached 0.7300 in the late European session. The resistance is at 0.7350, the support stands 0.7300.
As the most probable scenario, we consider further moving downwards towards the level at 0.7250.
DAX traded mixed the first part of the day on Thursday. The index opened in the red first, then the price slightly grew and reversed all the morning losses. The whole European session the benchmark spent around 12600 flirting with the level. The resistance lies at 12600, the support exists at 12500.
We see that bulls are trying to regain the level 12600. If they succeed the DAX index will advance to 12650. If they fail the benchmark shall ease to 12500.
Sellers tried to regain control and pushed the index below 2500. The benchmark fell to 2443 where the index found fresh bids which helped it to recover. S&P500 returned to its familiar range after that and continued its sideways trading during the first part of Thursday. The resistance lies at 2510, the support exists in at 2500.
The range trading is expected to continue in the coming sessions.
Read the full review on our site:
+$500 FOR TRADING Trade and receive real money for each 10th completed lot USE THE BONUS AND GET THE FOLLOWING BENEFITS: Unlimited withdrawal Compatible with Megaprotect and Deposit Bonus Available for cents and swap-free accounts HOW TO GET BONUS? To have a valid trading account To maintain the minimum account balance of 100 USD Keep trading and receive […]
We are launching the long-awaited rewards program for all subscribers of our social networks – share posts with your friends and get money on your FortFS account as a reward! 🥇 The participants will get the following benefits: • Real money for reposts • The reward is available for withdrawal without restrictions • You can […]