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Daily Technical Analysis

EUR/USD

Current level – 1.1962

We are seeing a depreciation of the single European currency against the U.S. dollar after the support at 1.2028 was easily overcome during yesterday’s trading session. At the time of writing, the pair is facing a test of the support zone at 1.1957. The most likely scenario is for a correction in the positive direction, after which it is possible to witness another test of the mentioned level and а deeper sell-off towards the next more significant support level at 1.1860. In the upward direction, the main resistance for the currency pair is the level at 1.2028. Today, investors will keep a close eye on the announcement of the non-farm payrolls change data for the U.S. (13:30 GMT), as well as the data on the unemployment rate in the U.S. (13:30 GMT).

Resistance Support
intraday intraweek intraday intraweek
1.2028 1.2104 1.1960 1.1800
1.2064 1.2148 1.1900 1.1750

USD/JPY

Current level – 107.92

The U.S. dollar continues to gain positions against the Japanese yen, reaching peak levels last recorded in June 2020. This is where the first significant resistance lies – the level of 108.00. It is possible to witness a correction in the negative direction, but the sentiment should remain positive – for a breach of the mentioned level and a move towards the next resistance at 108.50.

Resistance Support
intraday intraweek intraday intraweek
108.00 108.50 107.00 106.02
108.00 109.00 106.63 105.30

GBP/USD

Current level – 1.3897

The pound continues to lose ground against the U.S. dollar. It is possible to witness a formation of a range between 1.3842 – 1.4001, if the support at 1.3842 manages to limit the sell-off. Otherwise, if the bears strengthen their positions, we could witness a test of the next support at 1.3773. The expected economic news that could have an impact on the market have been mentioned in the EUR/USD analysis.

Resistance Support
intraday intraweek intraday intraweek
1.3926 1.4083 1.3842 1.3678
1.4000 1.4179 1.3773 1.3550

DeltaStock Inc.
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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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