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

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

EUR/USD

Current level – 1.1057

The breach of the resistance at 1.1070 seems successful and expectations for а continuation of the main trend towards 1.1000 remain valid. Should there be high bear activity, the price might even reach the September low at 1.0880. The key support from higher time frames remains 1.1170. Buyers might step in around near support levels at 1.1020 and 1.0970.

Resistance Support
intraday intraweek intraday intraweek
1.1070 1.1170 1.1020 1.0950
1.1100 1.1230 1.0970 1.0880

USD/JPY

Current level – 108.66

Following the equity markets, the greenback slumped against the yen. The resistance at 109.20 managed to hold two tests and the price should head towards the near support zone around 108.50. Prices could consolidate around the latter, but if global economic uncertainty rises and investors lose their risk appetite, the price could easily reach 108.00 and even push lower towards 107.40-106.60.

Resistance Support
intraday intraweek intraday intraweek
108.90 109.90 108.50 107.40
109.20 101.60 107.95 106.60

GBP/USD

Current level – 1.2838

Trading continues in the range between 1.2780 and 1.3000 with bears leading the market at the moment. The Cable is struggling to find direction and today’s interest rate decision of the English Central bank (12 p.m. UK time) might spike volatility and give the market the needed push. A breach of either borders of the range would define the mid-term price action.

Resistance Support
intraday intraweek intraday intraweek
1.2860 1.3000 1.2800 1.2550
1.2970 1.3180 1.2780 1.2500

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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