Europe entered one of its worst security crises since World War II.
Following yesterday’s rapid Market sell-off we saw a buy-the-dip rebound but the question is now whether the rebound is durable. This may be difficult however, since the conflict muddied the outlook for markets and the global economic recovery. Traders should expect further losses in risk assets while the U.S. dollar benefits as a safe haven.
EUR/USD: Below 1.1090, we expect further losses towards 1.09. Short-term resistance is seen at 1.1320.
GBP/USD: Below 1.32, we expect further losses towards 1.30. Short-term resistance is seen at 1.36.
DAX: As long as the index remains below 14800, we anticipate further losses towards 13500 and 13000.
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.
Any and all liability of the author is excluded.
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