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

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

EUR/USD

Current level – 1.1050

The recent breach of the support level at 1.1064-70 has reaffirmed itself despite yesterday’s swing above it. The picture remains bearish, aligned with the primary trend from the higher time frames and a move towards 1.1020 remains probable. If buyers are unable to stop the declines at the aforementioned levels, the probability of a move towards 1.0970 and 1.0880 will increase. A strong move above 1.1100 is needed to help negate the current bearish view.

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 – 109.26

Bulls managed to push the price above the resistance zone at 109.20, but price momentum faded as sellers stepped in. Despite this, sentiment remains positive as the USD/JPY consolidates above the previous resistance and new support at 109.20. A move towards 109.90 is still likely, as the recent uptrend remains intact. If sellers take control, first support lies at around 108.50, followed by 107.95.

Resistance Support
intraday intraweek intraday intraweek
109.65 109.90 108.50 107.40
109.90 110.60 107.80 106.60

GBP/USD

Current level – 1.2808

The Cable is preparing to test the support and lower border of the wide range it’s been trading in during the past few weeks. If GBP/USD successfully violates 1.2808, a more clear direction for further price moves should be defined. If the test proves unsuccessful, buyers could push the pair towards 1.2860, followed by 1.2910.

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.

Featured Analysis

Learn Forex Trading