The delegations of Russia and Ukraine are holding negotiations in Turkey today, creating hopes for diplomatic solution to the military conflict. Turkish President Erdogan who brokered this last round of talks, called for a ceasefire and peace as soon as possible, which would benefit all parties. 
On Monday, Ukrainian President Zelenskyy had appeared ready to discuss neutrality in the negotiations with Russia, saying that "the most important issues in the negotiations with Russia are security guarantees, neutrality and Ukraine's nuclear-free status". 
Rhetoric around the conflict seems to have toned down this week, with US President Biden clarifying that his weekend remarks that Russian President Putin can't remain in power, do not constitute policy change and they were a "moral outrage". 
Last week, Kremlin's spokesperson Peskov, had refused to rule out the use of nuclear weapons, in an interview with Christiane Amanpour . This week however, he commented that "No one is thinking about using, about — even about idea of using a nuclear weapon", talking to PBS .
The above factors helped sentiments, but caution is needed as previous rounds of negotiations have failed to yield results and we has seend shifts in risk trends. Furthermore, we expect key economic releases from the US later in the week, such as the NFPs, GDP and PCE Inflation.
The index made a very bad start to the year, but has staged a solid rebound in March, undeterred by the Fed's tightening, running its third straight profitable week. Today it extends gains and tries to surpass 61.8% Fibonacci of his 2022 High/Low drop and the daily Ichimoku cloud. This will allow it to look towards February's high, although it may be early for moves past it.
Despite its recent advance, a pullback towards 34,598-61 would not be unreasonable, but below that, there are multiple technical levels that can support it. These include the 200Days and 200H4 EMAs and closes below them would be needed to halt its bullish aspirations.
Senior Market Specialist
Nikos Tzabouras is a graduate of the Department of International & European Economic Studies at the Athens University of Economics and Business. He has a long time presence at FXCM, as he joined the company in 2011. He has served from multiple positions, but specializes in financial market analysis and commentary.
With his educational background in international relations, he emphasizes not only on Technical Analysis but also in Fundamental Analysis and Geopolitics – which have been having increasing impact on financial markets. He has longtime experience in market analysis and as a host of educational trading courses via online and in-person sessions and conferences.
Retrieved 29 Mar 2022 https://www.tccb.gov.tr/en/news/542/136295/-a-fair-peace-will-have-no-losers-
Retrieved 29 Mar 2022 https://www.youtube.com/watch
Retrieved 03 Jul 2022 https://www.youtube.com/watch