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Daily Technical Analysis

EUR/USD

Current level – 1.1728

The common european currency’s depreciation against the dollar was stopped by the support at 1.1711 and the expectations are for the pair to enter a correction phase and test the resistance level of 1.1760. In case the test is unsuccessful, then the downtrend would be restored and the pair would head towards a test of the aforementioned support level of 1.1711. Today, investors will focus on the U.S. initial jobless claims data (12:30 GMT).

Resistance Support
intraday intraweek intraday intraweek
1.1760 1.1887 1.1711 1.1670
1.1834 1.2000 1.1670 1.1600

USD/JPY

Current level – 110.66

The dollar continues to appreciate against the yen after the USD/JPY violated and managed to stay above yet another resistance level – the one at 110.60. The expectations are for the pair to test the psychological level of 111.00 after a short consolidation phase. In the negative direction, the first important support is found at 110.16.

Resistance Support
intraday intraweek intraday intraweek
111.00 111.00 110.60 109.20
111.70 111.70 110.16 108.80

GBP/USD

Current level – 1.3781

The Cable is headed for a test of the resistance level of 1.3797 which, if successful, would further deepen the corrective move. It, however, should be limited by the main resistance level of 1.3990. In the negative direction, the first important support is found at 1.3671. Today, investors’ attention will be drawn to the data on the manufacturing PMI for the United Kingdom (08:30 GMT).

Resistance Support
intraday intraweek intraday intraweek
1.3797 1.3990 1.3670 1.3530
1.3856 1.4094 1.3580 1.3350

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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