The night recovery move stalled at 1.2000. Sellers returned in the morning and spent the first part of the day struggling hard to overcome the level 1.1950. The resistance resides at 1.2000, the support comes in at 1.1950.
We preserve our positive negative for the pair. We are waiting the pair to overcome 1.1950 barrier and will move towards 1.1900 afterwards.
The pound holds firmly in red. Fresh selling pressure around the British pound returned the major below 1.3600. However, sellers are having problems with going lower. Buyers appeared to be protecting the 1.3550 area and are blocking sellers' decline. The resistance lies at 1.3700, the support comes in at 1.3600.
The sterling has a potential to post more losses. If bears retain control, the currency pair will probe the 1.3500 support later the day.
The market switched its tone on Thursday. The US dollar bounced off the 110.00 level and dropped below 109.50. Sellers moved the spot to the 109.00 handle where the lower end of the ascending channel lies. Besides, the EMA50 is located in this region which is reinforcing this area blocking sellers’ advance. The resistance resides at 109.50, the support comes in at 109.00.
If sellers regain the 109.00 support, they might drive the spot towards the 108.50 level in the coming sessions.
The tone is still negative in the market. The bearish momentum was strong enough to push the price below 148.00 in the Asian session. The pair headed lower afterwards and tested the 147.50 region in the late European session. The resistance lies at 148.00, the support is at 147.00.
The 148.50 is blocking sellers' advance. A cut through here will aim them at 148.00, en route to the 147.00 level.
A bout of fresh euro weakness sent the rate below 131.00 in the night. Sellers dragged the major towards 130.50, but failed to reclaim this barrier during the European hours. The resistance lies at 131.00, the support is at 130.50.
A break below 130.50 will indicate an extension of bearish momentum. Bears might move the price to the 130.00 level afterwards.
The USD/CAD pair lacked any firm direction on Friday. The spot is trading comfortably between 1.2880 and 1.2850 and it seems it does not want to leave this range. The resistance stands at 1.2900, the support is at 1.2800.
We believe that this pair will extend its consolidative pattern and will spend most of the day in the range.
Sellers attempt reclaim 6630 failed the other day. NASDAQ returned above the level and became neutral after that. The benchmark is confined in a tight range 6650-6630 now. The resistance lies at 6690, the support exists at 6630.
We assume that NASDAQ will preserve its neutral-to-bearish stance in the upcoming sessions.
The selling pressure increased at the open. DAX pushed away from 12800 and headed towards 12700. The resistance lies at 12800, the support exists at 12700.
If selling pressure persists, the DAX index will reach the 12700 area in the upcoming sessions.
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!