EUR/USD

Current level – 1.1075

The EUR/USD blasted through the support levels at 1.1141 and 1.1110 and is currently preparing for a test of the important levels at 1.1073. If the pair manages to break through this support, the long-term downtrend from the higher time frames should reassert itself and bring an end to the short-term uptrend from the beginning of October. If this bearish scenario does indeed become a reality, the move down should gain momentum towards 1.1000 and an impulse towards 1.0960 becomes more likely. In the positive direction major resistance remains at 1.1170, with a more minor one at 1.1110.

Resistance Support
intraday intraweek intraday intraweek
1.1110 1.1170 1.1070 1.1000
1.1140 1.1200 1.1000 1.0960

USD/JPY

Current level – 109.03

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The upward move gained momentum after the pair successfully breached above the resistance level at 108.90 and now is heading to its next target – the resistance at 109.20-109.30. In case USD/JPY manages to break through this resistance, buyers should gain more confidence and push the pair towards the 109.70-110.00 levels. However, we might see a deeper retracement towards the area around 108.90 due to some profit taking. A stronger level of support remains 108.50.

Resistance Support
intraday intraweek intraday intraweek
109.20 109.70 108.90 108.20
109.70 110.00 108.50 108.00

GBP/USD

Current level – 1.2878

The Cable continues to trade in the range between 1.2780 and 1.3000. A possible breach of either side of the range would help the pair find a clear direction.

Resistance Support
intraday intraweek intraday intraweek
1.2910 1.3000 1.2840 1.2780
1.2970 1.3180 1.2780 1.2550

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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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