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Negotiations between Russia and Ukraine have not yet led to anything, but the parties have announced holding a second meeting. It is not yet specified when exactly the second round of negotiations will take place, but the fact that the parties have begun to talk is an extremely positive moment.
In addition, U.S. President Joe Biden yesterday announced the possibility of easing sanctions in the event of a de-escalation of the conflict in Ukraine. In other words, there is hope both for the end of the conflict and for the end of the sanctions war with the subsequent mutual lifting of the already imposed sanctions.
Logically, all this should give markets optimism. But the fact is that the world lives only by headlines in the media. If the world tabloids do not talk about some event, then it means that it does not exist. And here the whole point is that practically nothing is said about these events in the media. A couple of short messages ran through - and that's it. No more mentions. If this situation does not change, the dollar will continue to grow. If the world media come to their senses and start talking about positive things, then the market will gradually win back a couple of previous days, which will lead to a weakening of the dollar.
The EURUSD currency pair managed to close the previously formed gap in the market, but there was a reduction in the volume of long positions in the region of 1.1250. This led to slowdowns and pullbacks. It can be assumed that the absence of holding the price above 1.1250 in the four-hour period will lead to the subsequent downward move towards 1.1121.
The GBPUSD currency pair has formed a slight pullback in the market. This led to the closing of the price gap and convergence with the local maximum of last Friday. So, the value of 1.3440 plays as resistance, which puts pressure on buyers. In this situation, a rebound from 1.3440 may well return the quote to the level of 1.3350. An alternative market development scenario will be considered by traders if the price holds above 1.3450 in a four-hour period.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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