The sentiment is firmly bullish towards the euro now. The euro moved away from 1.2050 and declined to 1.2000 yesterday. However, buyers could regain the market and reversed the majority of their losses today. The resistance resides at 1.2050, the support comes in at 1.2000.
The buying pressure is growing. Buyers are about to reclaim the 1.2050 again. If they succeed we will consider 1.2100 as the next intraday resistance and probable bullish target.
The pound turned bearish on Wednesday and sharply dropped to 1.3500 where the major found fresh bids and managed to reverse some losses on Thursday. The spot moved away from the mentioned handle and rallied to 1.3550 where the upward momentum faded. The resistance lies at 1.3600, the support comes in at 1.3500. .
The sterling is about to regain the 1.3550 mark. After breaking this level the 1.3600 region will come back to the radar.
Buyers found enough stem to resume the upbeat momentum. The US dollar rallied away from 112.00 and was able to test the EMA200. The resistance lies at 113.00, the support comes in at 112.00.
The major is heading to the next strong barrier – 113.00 where the EMA50 and EMA100 lie. If this region remains unbreakable the price may ease back to 112.00. If buyers succeed they could lead the pair to 113.30.
GBP/JPY turned around a few pips below 153.00 and headed towards 152.00 after that. The level is reinforced by the 50 and 100 EMAs and was able to stop sellers. The pound bounced off the handle and reversed some of its recent losses. Buyers drove the pair to 152.50 where they lost steam. The resistance lies at 153.00, the support is at 152.00.
If the bullish tone persists the currency pair will regain the 152.50 mark and will grow to 153.00.
The overall sentiment is bullish. The euro was able to reverse all its recent losses and recovered to the 135.80 region on Thursday. The resistance lies at 136.00, the support is at 135.50.
If the buying mode remains intact the euro may reclaim 136.00 in the coming sessions.
The overall market sentiment remained negative on Thursday. Buyers’ attempt to build on a recovery failed when the US dollar was stopped at 1.2550. The level rejected the major which eased to the 1.2500 handle after that. The resistance is at 1.2550, the support stands 1.2500.
Technical readings favor another leg lower. A clear strength below the immediate support now seems to pave way for continuation of the pair's downward trajectory towards 1.2450.
DAX had a positive start to the day. The index gapped upwards at the open and continued strengthening afterwards. The benchmark rallied through the 50 and 100 EMAs by noon and touched the EMA200 which lies in the 13100 region. The resistance lies at 13100, the support exists at 13000.
Buyers need to retake the 13100 resistance to neutralize the immediate selling pressure. In this potential scenario they could drive DAX to 13200.
S&P500 extended its upward trajectory and was able to regain the 2710 hurdle. Buyers pushed the price to the mark 2715 where they lost momentum. The resistance lies at 2720, the support exists in at 2710.
The strength of the bullish sentiment is strong enough to lift the index to 2720.
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.