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Daily Technical Analysis

EUR/USD

Current level – 1.1828

The support zone at 1.1797 was not broken and the EUR gained some positions against the USD, reaching the current level around 1.1828 and a test of the close resistance zone at 1.1859 is highly probable. A successful violation of this level will increase the chances for a breakthrough of the next target at 1.1903 and will encourage bulls to continue the rally. The first target for the bears lies at 1.1797, followed by the lower one at 1.1699.

Resistance Support
intraday intraweek intraday intraweek
1.1860 1.1960 1.1800 1.1580
1.1900 1.2080 1.1699 1.1460

USD/JPY

Current level – 106.42

Yesterday, the positive momentum pushed the breach of the resistance level at 106.13 as the dollar continued to gain ground against the yen, reaching the resistance at 106.41. If the power of the buyers persists, we could witness a successful violation of the aforementioned level and a move towards the upper resistance zone that lies at 106.93. If bears take control, negative pullback should be limited around the zone at 106.13, but if the selling pressure increases, the odds of continuation of the downside move towards 105.45 will rise.

Resistance Support
intraday intraweek intraday intraweek
106.41 106.93 106.13 105.18
106.93 107.50 105.45 104.20

GBP/USD

Current level – 1.3141

After the start of today’s trading, the Cable continued its struggle to overcome the resistance level 1.3138. A successful breach here could easily lead to new gains for the GBP against the USD and pave the way for the currency pair towards a test of the highs around 1.3247 and strengthen the bullish sentiment. If the resistance level holds, we will most probably see the GBP/USD decline and attempt a breach of the support zone at 1.3081, followed by the next one at 1.2996, if the pair gains enough momentum.

Resistance Support
intraday intraweek intraday intraweek
1.3140 1.3300 1.3080 1.2950
1.3247 1.3345 1.3000 1.2895

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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