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Daily Tecnical Analysis

EUR/USD

Current level – 1.1875

The uptrend for the currency pair is currently slowing down and the first obstacle is the resistance at around 1.1890. However, the trend seems ready to reverse and the expectations are for a breakout in this area and an attack of the next resistance at around 1.1955. The first daily support the bulls can expect at around 1.1853. If it fails to withstand the bearish pressure, the next one is at 1.1824 – a key area for the evolving movement. Today, no events are expected in the economic calendar that could significantly increase volatility.

Resistance Support
intraday intraweek intraday intraweek
1.1890 1.1970 1.1853 1.1705
1.1955 1.2070 1.1772 1.1600

USD/JPY

Current level – 109.19

The U.S. dollar continues to lose ground against the Japanese yen after the upward move from the end of last week was limited to just below the resistance level at 109.85. A successful breach of the support at 109.55 could boost the sell-off and pave the way for the currency pair towards a test of the next significant support zone at around 109.00. A consolidation of the range movement between 109.00 – 110.75, coming from the higher time frames, is also not excluded.

Resistance Support
intraday intraweek intraday intraweek
109.33 110.13 109.04 108.55
109.77 110.37 108.70 108.10

GBP/USD

Current level – 1.3890

The cable slowed its growth and there was a breach in the uptrend after the pair failed to reach a new peak following a test of the support at 1.3884. The market may need more time before it could move forward, but a breach of the 1.3884 support, and a deeper correction towards 1.3826, is also a possible scenario.

Resistance Support
intraday intraweek intraday intraweek
1.3930 1.4060 1.3884 1.3771
1.3977 1.4115 1.3826 1.3714

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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