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

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

EUR/USD

Current level – 1.1027

Fed’s decision to cut interest rates pushed the currency pair below 1.1059 as markets were disappointed because another 25BPS cut by the end of the year was not confirmed. If the move to the downside gains momentum, the first support level would be at 1.1017. In the opposite direction, a clear break of the resistance at 1.1059 could lead to a further movement towards the zone around 1.1106 and an increase in bullish sentiment.

Resistance Support
intraday intraweek intraday intraweek
1.1059 1.1160 1.0993 1.0930
1.1100 1.1200 1.0930 1.0900

USD/JPY

Current level – 108.45

The pair should head for a test of the next major resistance level at 109.00 if the breakthrough of the resistance 108.25 is confirmed. In case the test proves unsuccessful, the price could bounce back towards the support level at 107.58.

Resistance Support
intraday intraweek intraday intraweek
108.25 108.80 107.50 106.40
108.80 109.50 107.00 105.80

GBP/USD

Current level – 1.2465

Following two failed tests of the resistance level at 1.2502, a retracement towards the support at 1.2382 could be expected if the GBP loses its positive momentum. In positive direction, the main resistance levels remain at 1.2502 and 1.2560. Volatility is to be expected at and after 12:00 UK time as the Bank of England will announce its decision regarding the interest rate. In positive direction, the main resistance levels are at 1.2502 and 1.2560.

Resistance Support
intraday intraweek intraday intraweek
1.2500 1.2560 1.2380 1.2170
1.2560 1.2640 1.2270 1.1975

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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