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

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

EUR/USD

Current level – 1.1116

The ever continuing Brexit saga weighed on the common currency and the currency pair managed to break through the support level at 1.1139 and is now heading towards the next support at 1.1110. A successful breakthrough at this level should increase negative momentum and lead the EUR/USD towards a test of the next support zone at 1.1064. In upward direction, the minor resistance is at 1.1140 and, if broken, could draw a more bullish picture for a test of the main resistance zone around 1.1168 and then at 1.1200. The main factors behind price action should remain the news around Brexit, accompanied by ECB’s interest rate decision tomorrow.

Resistance Support
intraday intraweek intraday intraweek
1.1140 1.1240 1.1110 1.0960
1.1170 1.1270 1.1062 1.0880

USD/JPY

Current level – 108.30

Buyers were not able to hold the price above 108.60 due to some risk-off trading and the price could test 108.15. However, the current uptrend is still intact. The main resistance is at 108.90 and, if broken, should be the reason for a more sustainable move up towards the next resistance around 109.50.

Resistance Support
intraday intraweek intraday intraweek
108.90 109.00 108.15 107.40
109.20 109.30 107.80 107.00

GBP/USD

Current level – 1.2844

The sterling lost some ground after the vote last night and managed to break through the support at 1.2885. Expectations are for a test of the major support level at 1.2770-1.2780 remains relatively high as market uncertainty is high. A break here should increase the negative momentum and will push the price lower, towards 1.2550. Volatility should be expected and, if any positive news come up regarding Brexit, the currency pair could quickly gain back the losses and test the main resistance zone at 1.30.

Resistance Support
intraday intraweek intraday intraweek
1.2890 1.3180 1.2780 1.2560
1.2990 1.3300 1.2700 1.2400

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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