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

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

EUR/USD

Current level – 1.1028

After the currency pair managed to hold levels below 1.1068 the expectations remain on the downside and it’s highly likely to test the important support level at 1.0990. The sentiment is negative and, if we see a breakthrough at 1.0990, the momentum is likely to increase, which should lead to lower levels for the EUR/USD. On the upside, only a break above 1.1068 will help the bulls to come back to the market and look for more buying opportunities.Today, higher volatility may be expected at 09:00 GMT when the German IFO data will be published.

Resistance Support
intraday intraweek intraday intraweek
1.1070 1.1130 1.1000 1.0990
1.1100 1.1170 1.0990 1.0980

USD/JPY

Current level – 108.99

The USD/JPY managed to break through the support zone at 109.20 which increased the downside momentum. As concerns around the spread of the coronavirus in China and the rest of the world rise, expectations are for a test of the important support level at 108.40. However, a push back above 109.70 will turn the sentiment to the positive side.

Resistance Support
intraday intraweek intraday intraweek
109.20 110.22 108.80 108.40
109.75 111.65 108.40 107.90

GBP/USD

Current level – 1.3120

After several unsuccessful attempts to break through the resistance zone at 1.3145, the bears took control and pushed back the price around support zone at 1.3060. The sentiment remains mixed and we can say the consolidation for the past couple of weeks is not over yet. However, only a successful break above 1.3145 may clear the path to the main resistance at 1.3260.

Resistance Support
intraday intraweek intraday intraweek
1.3145 1.3210 1.3060 1.2960
1.3210 1.3260 1.3000 1.2790

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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