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Daily Technical Analysis

EUR/USD

Current level – 1.1416

Аfter breaking another resistance at 1.1239 on Friday, the EUR/USD managed to reach 1.1494 – the highest level in 14 months. The euro is expected to continue its upturn and test the key resistance at 1.1540. The first important support is 1.1239. This week, the most important data that traders will expect are the main US consumer price index on Wednesday (14:30 EET), as well as the European Central Bank interest rate decision on Thursday (14:45 EET).

Resistance Support
intraday intraweek intraday intraweek
1.1540 1.2070 1.1240 1.1000
1.1800 1.2220 1.1110 1.0860

USD/JPY

Current level – 102.55

The dollar collapsed against the yen in the first hours of today’s session, with the pair easily breaking the key support at 104.50 due to the massive crash in oil prices and the spread of the coronavirus. Expectations are for the downward movement to continue and for the pair to test the next support at 101.20 and, if it is broken, to target the next one at 100.10. The first major resistance is the previous support at 104.50.

Resistance Support
intraday intraweek intraday intraweek
106.80 110.00 100.20 94.00
107.50 110.50 99.20 92.75

GBP/USD

Current level – 1.3073

The Cable successfully overcame the resistance at 1.3061 at the opening of the trading session, but then consolidated and stabilised close to the resistance in question, which now plays the role of a support. The forecast is for the pair to continue the correction and, if it breaks at 1.3060, it should move to the next support at 1.3015. In an upward direction, the first major resistance is 1.32.

Resistance Support
intraday intraweek intraday intraweek
1.3100 1.3200 1.2900 1.2750
1.3200 1.3520 1.2860 1.2530

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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