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Daily Technical Analysis

EUR/USD

Current level – 1.0850

The euro continued its losing streak and reached the support of 1.0830, although the US announced a record 6.64 million new initial jobless claims. Last time such numbers were recorded was during the 2008 financial crisis. The price is above the support of 1.0830 and ,in case of a breach, a test of the minimums at 1.0650 is quite possible. The tendency for the downtrend to resume is still on the table as traders’ focus today will be towards non-farm payrolls data coming from the USA (13:30 GMT). Potential corrective movements should be restricted below the resistance of 1.0965.

Resistance Support
intraday intraweek intraday intraweek
1.0965 1.1200 1.0830 1.0650
1.1080 1.1350 1.0650 1.0511

USD/JPY

Current level – 107.92

The dollar continues to lose ground against the yen. The expectations are for the downward move to continue towards the 105.10-105.50 zone as the pair breached below the important support at 107.51. In the opposite direction, the first resistance is the former support at 107.51 and the major one is at 108.52.

Resistance Support
intraday intraweek intraday intraweek
108.50 111.35 107.30 105.10
109.90 113.70 105.60 103.60

GBP/USD

Current level – 1.2382

Since the beginning of this week the sterling is in a consolidation phase and prices are locked in between the 1.2300 and 1.2450 levels. Market sentiments are mixed and a breach of either side would define the short-term move of the currency pair.

Resistance Support
intraday intraweek intraday intraweek
1.2535 1.2650 1.2283 1.1440
1.2650 1.2800 1.2000 1.1300

DeltaStock Inc.
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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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