EURUSD - Still in the Range
The price of EURUSD has moved slightly up over the Asian trading session and reached the upper boundary of the sideways move we were mentioning yesterday in our analysis. Currently is trading below 1.1077, facing a down move. A break and close on a h1 time frame above this resistance level could trigger a comeback for the euro. In this scenario bulls might aim for another 100 pips rally. We will keep our eyes on the current price action inside the range. A break outside of it will give us more details related to the future direction of this currency pair.
USDJPY - Calm and Steadily
USDJPY was calm and steadily over the night. It did not break out from the range settled between 101.38 and 102.43. Our favorite scenario remains a breakout over the resistance and a continuation of the current rally towards 103.00. The second scenario, a drop for the US dollar, would be triggered by a drop below the support, bears targeting this way the 100.00 level or even the previous lows.
DAX30 - Highly Volatile
DAX30 remained highly volatile even after the Brexit final result. Though it moves inside the range between the support from 9200 and the resistance from 9700, its moves remained aggressive and have fast changes in the direction on short term, which makes it dangerous for swing traders. Currently is moving up towards the resistance level, after it had opened with a positive gap. This short term direction might be held in the first part of the day. A break below 9400 local support would signal a bigger fall, which would end up retesting the support area.
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