The euro traded mixed on Monday. The major gapped from 1.1950 towards 1.1900 at the daily open. The spot did not break the level and turned bullish in its region. Buyers pushed the price back and closed the gap by the morning. The pair turned bearish after that and retested 1.1900 in the mid-European session. EUR/USD continued its slide in the late European session and tested 1.1870 ahead of the NY opening. The resistance resides at 1.1900, the support comes in at 1850.
If the bearish tone persists we expect a breakout of the level 1.1900 level and a decline towards the 1.1865-1.1800 area.
The GBP/USD pair still lacks any firm direction being sandwiched between 1.3550-1.3500. The resistance lies at 1.3600, the support comes in at 1.3500.
We believe the pound may decline in the near-term. The level 1.3500 stands on sellers’ way. After breaking the level sellers will be able to move the spot to 1.3400.
The US dollar spiked upwards in the night and posted a daily high at 112.20. The buying momentum faded after that and the major softened to 112.00. The resistance lies at 113.00, the support comes in at 112.00.
We are still positive. The buying pressure can persist today sending this market towards 112.50.
The GBP/JPY pair showed a neutral bias hanging between 152.00-151.00 the first part of the day. The resistance lies at 152.00, the support is at 151.00.
The market looks bearish now. If sellers regain control they can lower the price to 150.00.
The EUR/JPY pair showed a negative bias on Monday. The price spiked at the open and jumped from 133.50 to 134.00 where the pair switched its tone to bearish. The bearish regained control after that and drove the price towards 133.00. The resistance lies at 133.50, the support is at 133.00.
We are still positive until we see a move below 133.00. If the level holds the pair may bounce back to 134.00. Otherwise, the spot will ease towards 132.50.
The USD/CAD pair was neutral-to-bearish on Monday. The pair started the day above the 1.2300 level and was easing the whole day towards the handle. The resistance is at 1.2400, the support stands 1.2300.
Bulls seem not to have enough steam to push the price further. If sellers return control the pair will ease below 1.2300 and may reach 1.2200 afterwards.
DAX traded mixed on Monday starting the day with a bearish sentiment and closing it with a bullish one. The price gapped downwards at the open. The benchmark jumped from 12600 to 12553 where the market sentiment turned bullish and the price spiked back. DAX returned to 12600 where the index got under selling pressure. 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.
S&P500 was neutral on Monday moving up and down just below 2500. The resistance lies at 2500, the support exists in at 2490.
The offered tone around the index may drag this price to 2490. If bulls retain control the benchmark may return to 2510.
Read the full review on our site:
Dear traders! We are glad to announce the launch of new promo “CHINESE NEW YEAR” which allows you to increase your profits from trading in the world financial markets! Starting from 1 February 2019 and up to 1 March 2019 an additional 2% of profit will be credited for each profitable trade as well as […]
Dear Traders! We are pleased to announce the launch of the “Welcome Bonus 75 USD” promotion! Starting from 21.01.2019 and until 01.02.2019 inclusive welcome bonus of 75 USD or equivalent in another currency is available to all clients of the company.