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

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

EUR/USD

Current level – 1.1073

After breaching the resistance at 1.1060 the currency pair is preparing for a second test and a possible breach of the resistance around 1.1090. According to the price action, bulls are in control and expectations for a rally remain intact. Should the price breach 1.1090, the next target would be the resistance at 1.1140. Eventual retracement should remain limited above the zone 1.1040-1.1020 in order to preserve the positive picture.

Resistance Support
intraday intraweek intraday intraweek
1.1090 1.1170 1.1060 1.0990
1.1140 1.1200 1.1020 1.0880

USD/JPY

Current level – 108.57

Yesterday the yen rallied against the US dollar due to the investors’ rising concerns about economic growth and trade tensions. At the time of the analysis the price is below the resistance 108.64 and expectations are rather neutral, with a move towards the major support at 108.20 being probable. On the other hand, the main obstacle for the bulls is around 108.90.

Resistance Support
intraday intraweek intraday intraweek
108.64 109.20 108.20 107.40
108.90 109.45 107.90 106.60

GBP/USD

Current level – 1.2951

The sterling is just at the upper band of a range going on for about a month. Preconditions are set and remain favorable for a break of the resistance at 1.2964, also a breach of the highs around 1.30 would strengthen the bull sentiment with potential target at 1.3180. The unfolding of the situation around Brexit will guide traders’ actions and spikes and high volatility are not excluded. The main support for the uptrend is the lower band of the range at around 1.2760-1.2780.

Resistance Support
intraday intraweek intraday intraweek
1.2965 1.3000 1.2910 1.2820
1.3000 1.3180 1.2860 1.2760

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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