GBPUSD dives lower
The pound took another hit as unemployment ticks higher in the UK. After a brief move above the 1.3500 level, prices fell over 70 pips to halt the bull run. This latest psychological level is where some sellers have stepped in, and 1.3440 is the first zone to maintain the downward pressure. A close below 1.3350 would flush out the remaining buying interests and pave the way for a sustained rally. On the upside, a lack of resistance would drive the pair towards 1.3550.
EURJPY continues to climb
The Euro continues to climb against the Yen, even though a slight pullback in price action has seen some sellers re-enter the market. The pair has held on to its gains after breaking above 164.50. A series of higher lows indicates rising bullish momentum, which is likely to attract more buyers. The recent peak of 165.30 is a major ceiling ahead, and its breach would signal a bullish continuation. On the flip side, a fall below 164.00 could lead to a test of the previous double bottom at 163.00.
DAX (GER40) hitting another high
Global equities continue to climb as the recent trade wars seem to be quieting down. The Dax’s hold above the daily support of 24000 has boosted the short-term enthusiasm. However, bears might not have had their last word yet, as general sentiment remains shaky. 24300 is the immediate hurdle for buyers, and a close above this would resume the uptrend. On the flip side, as price action touches 24100, a break here could lead to a runaway sell-off.
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