HomeContributorsTechnical AnalysisDaily Tecnical Analysis

Daily Tecnical Analysis

EUR/USD

Current level – 1.1719

Bear pressure continues to sink the euro and the US dollar remains strong against most major currencies. Sellers slowed down around the 1.1711 support, with no significant presence of buyers on the market. Expectations are for a pullback phase of the market which should be limited by the resistance 1.1766. If 1.1711 support is breached, the sell-off could deepen to 1.1600. Today, traders will expect data on the consumer price index for the United States at 12:30 GMT. Assumptions are that inflation has peaked, but if we see another rise, investors may see this as a possibility for a rate hike and a stronger dollar in the aftermath.

Resistance Support
intraday intraweek intraday intraweek
1.1766 1.1890 1.1711 1.1650
1.1829 1.1944 1.1650 1.1600

USD/JPY

Current level – 110.61

The strong rally for the US dollar against the yen managed to take the pair over the high at 110.56. The area has not yet been confirmed as support and the first one is at 110.30. The expectations are for a slowdown in the trend and indecision in the market at least until the announcement of the data mentioned in the EUR/USD analysis. Should the rally continue, an attack at the top of July at 111.51 can be expected. On the other hand, the entry of bears can plunge the pair to the beginning of the momentum around 108.74.

Resistance Support
intraday intraweek intraday intraweek
110.56 111.00 110.30 109.44
111.00 111.50 109.75 108.74

GBP/USD

Current level – 1.3824

There is a reversal of the trend of the analysed time frame. If support at 1.3827 is broken, declines to the next zone at 1.3776 and even 1.3720 can be expected. A jump in prices above the resistance of 1.3862 will be an early signal that the bulls are still on the market. In this scenario, they would try to attack the high at 1.3979 again.

Resistance Support
intraday intraweek intraday intraweek
1.3862 1.3980 1.3827 1.3720
1.3930 1.4060 1.3776 1.3632

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.

Featured Analysis

Learn Forex Trading