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Daily Technical Analysis

EUR/USD

Current level – 1.1603

The bulls still cannot prevail over the bears and, at the time of writing, the currency pair is located under the 1.1618 resistance zone. The few failed attempts at breaching the mentioned level could give the bears the necessary incentive to attack the next significant support of 1.1575. Today, the focus for investors will be the announcement of the European Central Bank interest rate decision (11:45 GMT), as well as the announcement of the initial jobless claims data for the U.S. (12:30 GMT). The outcome of the mentioned economic news could largely determine the future of the currency pair.

Resistance Support
intraday intraweek intraday intraweek
1.1618 1.1687 1.1575 1.1410
1.1663 1.1750 1.1535 1.1280

USD/JPY

Current level – 113.57

The hesitant attack of the bulls on the 114.10 resistance zone did not lead to a success and directed the price move towards a test of the support zone of 113.70, thus giving the bears some breathing room. They, in turn, also failed to take full control of the market at the time of writing. A confirmation of the negative sentiment could occur in case of a confirmed breach of the support zone of 113.21. The Bank of Japan left the interest rate unchanged, which did not in any way affect the market or increase the volatility of the currency pair.

Resistance Support
intraday intraweek intraday intraweek
113.70 114.50 113.20 111.50
114.10 116.00 111.96 111.50

GBP/USD

Current level – 1.3737

After the bears failed to breach the support zone of 1.3715, there was a subsequent failed attempt by the bulls at overcoming the resistance of 1.3760. At the time of writing, the sentiment is rather neutral, as neither the bulls nor the bears are currently prevailing. A breach of any of the mentioned levels could present the market participants with the necessary momentum needed to determine the future of the currency pair.

Resistance Support
intraday intraweek intraday intraweek
1.3760 1.3900 1.3715 1.3570
1.3830 1.4000 1.3640 1.3570

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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