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Daily Tecnical Analysis

EUR/USD

Current level – 1.2203

After the failed breach of the resistance zone at 1.2238, during yesterday’s trading session the single European currency lost its value against the U.S. dollar after another failed attempt by the bears to test the support zone at 1.2170. The mentioned support and resistance outline the borders of the created range, which was formed approximately three weeks ago. At the moment, neither buyers nor sellers are able to gain momentum and tip the scales in their favor. The forecasts, then, are for maintaining the move in the mentioned channel between 1.2170 – 1.2238. The most important news for investors today is the ADP non-farm employment change data for the U.S. (12:15 GMT), as well as the initial jobless claims data, again for the U.S. (12:30 GMT).

Resistance Support
intraday intraweek intraday intraweek
1.2240 1.2340 1.2170 1.2128
1.2360 1.2400 1.2170 1.2065

USD/JPY

Current level – 109.66

After the failed breach of the resistance zone at 1.2238, during yesterday’s trading session the single European currency lost its value against the U.S. dollar after another failed attempt by the bears to test the support zone at 1.2170. The mentioned support and resistance outline the borders of the created range, which was formed approximately three weeks ago. At the moment, neither buyers nor sellers are able to gain momentum and tip the scales in their favor. The forecasts, then, are for maintaining the move in the mentioned channel between 1.2170 – 1.2238. The most important news for investors today is the ADP non-farm employment change data for the U.S. (12:15 GMT), as well as the initial jobless claims data, again for the U.S. (12:30 GMT).

Resistance Support
intraday intraweek intraday intraweek
109.74 111.00 109.36 108.56
110.18 112.20 109.06 107.50

GBP/USD

Current level – 1.4167

After the pound lost ground against the U.S. dollar since the beginning of the week, the bulls managed to limit the sell-off above the support zone at 1.4100 during the last trading session, and we even witnessed a build-up of upward momentum and a recent breach of the resistance at 1.4160. Only a breach and its confirmation above the zone at 1.4200, however, could be sufficient grounds for considering a continuation of the upward trend. At the moment, the expectations for range-bound trading between 1.4100 – 1.4200 remain intact. Today, the most important economic news that will be in investors’ focus will be the PMI services data for the UK (08:30 GMT).

Resistance Support
intraday intraweek intraday intraweek
1.4208 1.4300 1.4163 1.4035
1.4240 1.4400 1.4101 1.4014

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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