Not Much Has Changed

Dear traders,

Not much has changed on Wednesday with the U.S. dollar steadying.

EUR/USD: As long as the pair remains below 1.19, we will favor falling prices with a next lower target at 1.1770.

GBP/USD: Bearish momentum appears to be continuing and we focus on lower targets at 1.3620 and 1.3570 from where we may see a rebound. A current resistance is however seen at around 1.39.

DAX: The index provided again some gain for short traders yesterday. We will now pay attention to an upside break of 14560 that could lead to further gains whereas on the downside, the area between 14450-14400 remains an interesting support zone.