Technical Overview - 6th July

EURUSD- Broke below Support

The price of EURUSD has broken below the support area mentioned in yesterday’s analysis and hit a low at 1.1037, where it actually found a support. Currently the price action shows a corrective movement, which set a new resistance at 1.1078. A break above the resistance could trigger a longer rally for the Euro, which might stop around 1.1122. On the other hand a break below the support could get the price all the way to 1.1000.
EURUSD - 6th July Broke below Support

USDJPY - Close to 100.00

After the price of USDJPY has broken the support from 102.84, it went into a free fall all the way to the current levels from 100.30. Bears might push it even lower, towards 100.00. At the round number support level I am expecting it to stop for a while or even bounce back up towards 101.00. A break below 100.00 would not be considered to be a strong bearish signal. The break might end up being a false one, followed by a bounce back to higher levels.
USDJPY - 6th July Close to 100


The German index, DAX30, has managed to break above the resistance from 9700, but did not go further than 9800.00. The price fell back into the range set between 9200 and 9700. Currently is trading close to the lower boundary, at 9300. The drop might continue towards the key level support, where I am expecting to take a short break, or bounce back towards 9400.
DAX30 - 6th July Back in range

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