HomeContributorsTechnical AnalysisForex Technical Analysis: EUR/USD, USD/JPY, GBP/USD

Forex Technical Analysis: EUR/USD, USD/JPY, GBP/USD

EUR/USD

Current level – 1.1207

The pair continues to trade in the range formed during the last couple of days. The zone around 1.1167 has become a serious hurdle for the bears. If a breakthrough at this level takes place,  the price should head for the next target zones of 1.1129 and 1.1101. In the opposite direction, the EUR/USD could head up north  and  test the  resistance level around  1.1244. By breaking the upper border of the channel the price  could  hit  the area  at 1.1280.

Resistance Support
intraday intraweek intraday intraweek
1.1250 1.1300 1.1170 1.1020
1.1300 1.1350 1.1115 1.0960

USD/JPY

Current level – 105.34

USD/JPY’s slide was stopped at  the level 105.1090, followed by a minor rebound towards 105.599. We are yet to see signs for a reversal of the downtrend as sentiment remains negative. A break through the price  of 105.1090 could set the scene for a move downtowards new  lows. But, if the bulls take over, the target would be 105.600 and the resistance zones at 106.3090 – 106.6670.

Resistance Support
intraday intraweek intraday intraweek
106.75 108.40 105.50 104.46
108.40 110.00 105.00 100.00

GBP/USD

Current level – 1.2073

After hitting a two and a half year low at 1.2016, a very minor positive retracement is taking place. The previous support at 1.2101 should prove to be a significant level of resistance and a hurdle for a move to the upside. A break through the minor support at 1.2058 should steepen the losses for the GBP/USD and push the pair towards new lows.

Resistance Support
intraday intraweek intraday intraweek
1.2086 1.2250 1.2014 1.1980
1.2250 1.2350 1.1980 1.1900

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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