EUR/USD

Current level – 1.1414

The common European currency continues to rise against the dollar and, during yesterday’s trading session, managed to breach and rise above the key resistance level at 1.1420. However, the pair wasn’t able to stay above it by the end of the trading day. At the time of writing the analysis the currency pair is headed for another test at 1.1420, which, if successful, could prolong the positive trend. If the breach attempt at 1.1420 fails again, the pair would probably retreat and test the support level of 1.1351. Today, a spike in volatility can be expected around the announcement of the European Central Bank’s interest rate decision (11:45 GMT), as well as during the ECB press conference (12:30 GMT).

Resistance Support
intraday intraweek intraday intraweek
1.1420 1.1500 1.1350 1.1240
1.1500 1.1600 1.1320 1.1140

USD/JPY

Current level – 106.83

- advertisement -

Yesterday’s fall was limited by the support at 106.80 and, at the time of writing, the currency pair stays slightly above this support level. In case the support at 106.80 holds, then a rise towards the resistance at 107.25 could be expected. In the negative direction, a major support, following the aforementioned 106.80, is the level of 106.00.

Resistance Support
intraday intraweek intraday intraweek
107.25 108.15 106.80 106.00
107.46 109.35 106.40 106.00

GBP/USD

Current level – 1.2579

The sentiment towards the Cable remains positive and it is expected to rise and once more test the key resistance at 1.2666. A short-term correction is not excluded, but it should be limited by the support at 1.2483.

Resistance Support
intraday intraweek intraday intraweek
1.2665 1.2780 1.2550 1.2340
1.2730 1.2800 1.2400 1.2250

Previous articleEU Indices Consolidate This Morning | TA Focus On Heineken
Next articleChina’s GDP Beat Fails To Energise Bulls
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.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.