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Daily Technical Analysis

EUR/USD

Current level – 1.0947

The upward movement which started at the end of last week, has lost momentum and the pair is now trading below the important 1.0965. Due to this, the more likely scenario is a bearish one for a move towards 1.0830. However, if the EUR/USD manages to overcome 1.0965 we’ll probably see a move towards the resistance at 1.1079. The initial jobless claims for the US (12:30 GMT) could cause extra volatility in the markets.

Resistance Support
intraday intraweek intraday intraweek
1.0963 1.1200 1.0830 1.0650
1.1080 1.1350 1.0650 1.0511

USD/JPY

Current level – 107.16

The dollar continues to lose ground against the yen. The expectations are for the downward move to continue towards the 105.10-105.50 zone as the pair breached below the important support at 107.51. In the opposite direction, the first resistance is the former support at 107.51 and the major one is at 108.52.

Resistance Support
intraday intraweek intraday intraweek
107.50 111.35 106.90 105.10
108.50 113.70 105.50 103.60

GBP/USD

Current level – 1.2381

The Cable is trading in a narrow range between 1.2300-1.2450 since the beginning of the week with neither bulls, nor bears being able to take control. A possible break of the top border of the range would renew the rally with the first target being 1.2535. In the opposite direction an important support is 1.2000

Resistance Support
intraday intraweek intraday intraweek
1.2535 1.2650 1.2283 1.1440
1.2650 1.2800 1.2000 1.1300

DeltaStock Inc.
DeltaStock Inc.http://www.deltastock.com/
These analyses are for information purposes only. They DO NOT post a BUY or SELL recommendation for any of the financial instruments herein analyzed. The information is obtained from generally accessible data sources. The forecasts made are based on technical analysis. However, Delta Stock’s Analyst Dept. also takes into consideration a number of fundamental and macroeconomic factors, which we believe impact the price moves of the observed instruments. Delta Stock Inc. assumes no responsibility for errors, inaccuracies or omissions in these materials, nor shall it be liable for damages arising out of any person's reliance upon the information on this page. Delta Stock Inc. shall not be liable for any special, indirect, incidental, or consequential damages, including without limitation, losses or unrealized gains that may result. Any information is subject to change without notice.

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