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Daily Technical Analysis

EUR/USD

Current level – 1.1819

The currency pair is on its way to retest the resistance zone at 1.1840 after the bulls managed to limit the sales and found a suitable entry around the level of support at 1.1780. The market sentiment at the moment is rather positive, for a breach of the mentioned resistance and a test of the next level at 1.1890. Today, the main economic news that could affect the market and increase the volatility, is the European Central Bank interest rate decision (11:45 GMT), as well as the data for the Initial jobless claims for the U.S. (12:30 GMT).

Resistance Support
intraday intraweek intraday intraweek
1.1840 1.1940 1.1780 1.1700
1.1880 1.2000 1.1740 1.1440

USD/JPY

Current level – 106.14

During the last trading session, the dollar managed to regain some of its lost positions against the Japanese yen. However, both the smaller and the larger time frames point at a consolidation of the range movement. The mentioned channel (105.30 – 107.00) is relatively narrow for the currency pair as investors are waiting for better levels to enter the market. The main resistance for the buyers is found at 106.45, the breach of which could lead to a strengthening of the bullish sentiment.

Resistance Support
intraday intraweek intraday intraweek
106.45 106.94 106.00 104.70
106.45 107.20 105.30 104.22

GBP/USD

Current level – 1.2985

Over the past week, bears have completely dominated the market following the appreciation of the U.S. dollar. At the time of writing, we are seeing a consolidation above the support level of 1.2970, with the next significant threshold being the level of 1.2750. In a positive scenario, in which the sell-off is limited to the current levels, the first significant resistance for the bulls will be the zone at 1.3050.

Resistance Support
intraday intraweek intraday intraweek
1.3050 1.3180 1.2970 1.2900
1.3120 1.3250 1.2910 1.2800

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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