HomeContributorsTechnical AnalysisDaily Technical Analysis

Daily Technical Analysis

EUR/USD

Current level – 1.1713

After the pair broke the key resistance at 1.1599 and stayed above it, investors’ forecasts for a continuing upward trend solidified and now expectations are for a test of the next key resistance at 1.1810. The first important support is the mentioned level of 1.1599. This week, investors’ attention will be focused on the Fed’s key interest rate decision in the United States on 29.07.2020 at 18:00 GMT, as well as on the values ​​of the gross domestic product of the United States on 30.07.2020 at 12:00 GMT.

Resistance Support
intraday intraweek intraday intraweek
1.1750 1.1810 1.1599 1.1370
1.1750 1.1930 1.1460 1.1230

USD/JPY

Current level – 105.53

The pair managed to break through and stay below the lower limit of the relatively narrow range in which it traded for a long time, namely 106.00. This determines the future downward movement as the pair will most probably focus on a test of the important support at 104.80. The key resistance here is 106.00.

Resistance Support
intraday intraweek intraday intraweek
106.04 107.38 104.80 103.10
107.16 107.69 104.00 103.10

GBP/USD

Current level – 1.2842

The Cable managed to break the important resistance at 1.2807 in the early hours of today’s trading session and expectations are for a continuation of the upward movement. The pair is expected to test and break the resistance at 1.2880 and then proceed to test the resistance at 1.2970. The first important support is 1.2807.

Resistance Support
intraday intraweek intraday intraweek
1.2880 1.2970 1.2807 1.2760
1.2880 1.2206 1.2807 1.2517

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.

Featured Analysis

Learn Forex Trading

Demo Trading vs. Live Trading

How to Identify Supply and Demand

What is an AB=CD Pattern?

ECN Forex Trading Explained