Daily technical analysis-The bulls completely dominated the market

 EUR/USD Current level - 1.1778

The downward movement was once again limited by the support level at 1.1760 and the currency pair continues to trade within the narrow range between 1.1760 - 1.1800. At the time of writing, the market has no clear direction and the bulls might try to take the pair towards 1.1850. Only a breach of the critical support at 1.1760 may lead to further sell-offs, heading the EUR/USD towards the next support at 1.1717.

USD/JPY Current level -  110.11

At the time of writing this analysis, the currency pair is found in the consolidation phase and the expectations are for a new test of the resistance at 110.30. In case this resistance is breached and the bulls enter the market, then it is possible for the pair to head towards 110.60 - 111.10. In the negative direction, the first support is located at 109.70.

GBP/USD Current level - 1.3774

The sterling continues to appreciate against the U.S. dollar and is currently headed towards a test of the resistance at 1.3800. If this level is breached, it is possible for the pair to test the next resistance at 1.3860. If the bears prevail and the resistance at 1.3800 is not breached, then the pair is expected to test the support at 1.3665.

DAX30 Current level - 15564

During the last trading sessions, the German index recovered its recent losses and gained more than 400 points. The bulls completely dominated the market and, if they don't lose their momentum, the index will most likely breach the resistance at 15586 and head towards the next resistance level of 15698. In the downward direction, the first important support is found at 15464.

US30 Current level -  34884

In the last trading sessions, volatility was high and we witnessed a strong rebound from the support at 33747, which gave the bulls complete control over the market and the US30 rose above the resistance at 34695. At the time of writing, the expectations are for a move towards the resistance at 35030. Before attacking the aforementioned level, however, a slight corrective move towards the support at 34695 is a possible scenario.

Disclaimer

This information has been prepared for information only and does not constitute an offer or commitment. This information does not constitute investment advice as defined by the rules of the FCA.