We have made a pit stop after another high-profitable trading month came to a close. Our trading performance in March stands at a 689-pips gain and is particularly a result of the heightened volatility in the market following Russia’s invasion of Ukraine. As for the war in Ukraine, there remains risk of a sudden course change that can hit the market hard, but for now, risk appetite plays a major role in current market trends. Nonetheless traders should bear in mind that implications for higher energy and grains commodity prices and the resulting recession risk are an increasingly real threat to the markets – maybe not today but perhaps in a few months.
EUR/USD – Heading back south
After the euro’s flight to a high of 1.1185, the currency pair headed back south and we now wait for the 1.0985-support area to get tested. Below 1.0940, we anticipate further losses towards 1.0885. Bulls on the other side will keep tabs on renewed price breaks above 1.1140 to bet on a run for 1.1250 or even 1.13.
GBP/USD – Technical outlook below 1.3220: Bearish
As long as the short-term resistance area around 1.3220 remains unbroken, we expect further losses towards 1.30 and possibly even 1.2920.
DAX – Hovering below 15000
The crucial 15000-threshold remains unbroken, at least until now. As long as bulls are unable to drive the index above 14800, we will pay attention to a break below 14400. Below 14400, next targets will be at 14200 and 14100.
Disclaimer: All trading ideas and expressions of opinion made in the articles are the personal opinion and assumption of MaiMarFX traders. They are not meant to be a solicitation or recommendation to buy or sell a specific financial instrument.
We wish you good trades!
Any and all liability of the author is excluded.
Copyright © All Rights Reserved 2022 MaiMarFX.
Follow us on social media: