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

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

EUR/USD

Current level – 1.0990

The euro ended last week with new lows against the US dollar. The new lower low suggests a renewal of the downtrend. It’s possible to witness a short-term retracement towards the 1.1050 zone. If this resistance holds, we may see new lows and a run towards 1.0830.

Resistance Support
intraday intraweek intraday intraweek
1.1050 1.1160 1.0950 1.0740
1.1110 1.1220 1.0830 1.0590

USD/JPY

Current level – 106.17

Here the picture remains almost unchanged. The price was again rejected at the top of the range at 106.70. However, the sentiment remains positive for another push of the bulls and a probable breach above 106.70, since the pair is now at a local support level. If the price fails to breach the top of the range, we might see more of the same price action as in the last couple of weeks.

Resistance Support
intraday intraweek intraday intraweek
106.73 107.50 106.20 104.43
107.50 108.50 105.60 104.00

GBP/USD

Current level – 1.2156

The price recently breached the nearest support at 1.2170 and it would be nice to see if that level will hold. If it does, this can open the way for a drop towards 1.2110. The time for the prime minister Johnsson to negotiate a better deal with the EU is running out, so news around the progress could trigger sudden and sharp moves of the market.

Resistance Support
intraday intraweek intraday intraweek
1.2300 1.2450 1.2170 1.2014
1.2380 1.2520 1.2100 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.

Featured Analysis

Learn Forex Trading