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

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

EUR/USD

Current level – 1.1024

The pair is in a short-term uptrend that gained momentum at the end of last week. On Friday we witnessed a test at the resistance 1.1065, an eventual breach this week would make bulls gain confidence for a more sustainable rally towards1.1177. Should there be a retracement, the euro could meet support at around 1.099 and 1.0964 in addition.

Resistance Support
intraday intraweek intraday intraweek
1.1065 1.1177 1.0989 1.0939
1.1100 1.1230 1.0964 1.0880

USD/JPY

Current level – 108.19

USDJPY recovered over optimism on the trade talks and the partial deal between the U.S. and China. Expectations remain positive for a breach at 108.40 and a rally towards the next target at 108.80. As per the price action around 108.40, a retracement is highly possible so buyers can take some profits and regain control again around 107.90-108.00.

Resistance Support
intraday intraweek intraday intraweek
108.41 108.90 108.00 107.40
108.60 109.30 107.80 107.00

GBP/USD

Current level – 1.2590

The chance for an orderly Brexit and reaching a deal brought optimism back and the sterling leaped to the levels from the end of June. With the deadline for Brexit approaching, all news around the talks between the UK and the EU will be closely monitored by traders. Volatility is likely to remain high in the next few weeks. The GBP/USD started the week on the back foot and for now that move can be observed as a retracement that should remain limited above 1.2500. The next major support zones are the not so close levels around 1.2340 and the low at 1.2200. First significant resistance for the bulls should be 1.2735.

Resistance Support
intraday intraweek intraday intraweek
1.2670 1.2890 1.2500 1.2345
1.2735 1.2970 1.2425 1.2200

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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