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Daily Tecnical Analysis

EUR/USD

Current level – 1.2225

The common European currency’s appreciation against the dollar continues as the currency pair managed to violate the important resistance level of 1.2172 during yesterday’s trading session. The upward movement is expected to gain momentum and test the next resistance level of 1.2270. In case a corrective movement occurs, then the aforementioned level of 1.2172 would act as a first level of support, while the major support would lie at 1.2065. Today, the focus of investors will shift towards the CPI data for the euro area (09:00 GMT).

Resistance Support
intraday intraweek intraday intraweek
1.2170 1.2270 1.2172 1.1990
1.2170 1.2340 1.2129 1.1950

USD/JPY

Current level – 109.00

The corrective phase seems complete as the currency pair made a failed attempt to breach the support level of 108.94. The expectations are for the uptrend to be restored and for the pair to test the important resistance level of 109.68, possibly followed by a test of the local high of 110.95. In the negative direction, the first important support is the aforementioned level of 108.94.

Resistance Support
intraday intraweek intraday intraweek
109.68 111.00 108.94 108.65
110.52 111.70 108.94 108.18

GBP/USD

Current level – 1.4186

The sterling’s appreciation against the dollar continues and the market sentiment remains positive as, at least for now, the Cable manages to stay above the former resistance level of 1.4146. The expectations are for the pair to rise and test the next resistance level of 1.4270. In the negative direction, the first support is the aforementioned level of 1.4146.

Resistance Support
intraday intraweek intraday intraweek
1.4270 1.4270 1.4146 1.3830
1.4140 1.4400 1.4064 1.3700

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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