EUR/USD

Current level – 1.0915

The start of the week was marked by continuous sell-offs for the euro with buyers nowhere to be seen, which has been the case since the beginning of this month. There is a chance for the meltdown to continue with first substantial support being at 1.0890, where buyers might join the market. If this level is breached, there’s a high chance for the downtrend to accelerate and the EUR/USD might reach new lows around 1.0800. If bulls re-enter the market, the major resistance would be the zone at around 1.1000.

Resistance Support
intraday intraweek intraday intraweek
1.0940 1.1000 1.0900 1.0800
1.0970 1.1040 1.0870 1.0700

USD/JPY

Current level – 109.83

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The dollar reign continues as the price tested the support at 109.60. Sentiment remains positive and a new attempt at the resistance level at around 110.00 remains likely. If this scenario materialises, the next target for the USD/JPY would be 111.00. If the aforementioned attempt is unsuccessful, bears could gain confidence and push the market into a range. Key support for the current trend is 108.78.

Resistance Support
intraday intraweek intraday intraweek
110.00 110.65 109.60 108.80
110.22 111.00 109.20 108.30

GBP/USD

Current level – 1.2915

The price managed to bottom at around 1.2870 and even staged a major comeback by testing the resistance 1.2940. Despite that, sentiment remains rather mixed as the support 1.2870 is coming from bigger time frames and can drive the market into a range. If this support does not hold, the price can accelerate towards 1.2790 and even the lower 1.2550. Today a series of economic data is expected to be released in the UK (09:30 GMT) with the main focus being on the GDP and industrial production.

Resistance Support
intraday intraweek intraday intraweek
1.2940 1.3030 1.2870 1.2700
1.2975 1.3145 1.2790 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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