HomeContributorsTechnical AnalysisDaily Technical Analysis

Daily Technical Analysis

EUR/USD

Current level – 1.1864

The currency pair is consolidating over the support zone at 1.1858 as the positive sentiment is intact and an attempt for a breach of the close resistance level at 1.1902 is highly possible. If successful, this would strengthen the bullish expectations and increase the odds of a test of the next targets at 1.1940 and 1.1993. In the negative scenario in which the aforementioned support zone at 1.1858 is violated, we could see a test of the lower target at 1.1828. If it is broken, this could lead to a change in the current market sentiment. Today, the release of the ZEW Economic Sentiment for the Eurozone at 09:00 could lead to a rise in volatility.

Resistance Support
intraday intraweek intraday intraweek
1.1900 1.1940 1.1860 1.1780
1.1993 1.2000 1.1830 1.1740

USD/JPY

Current level – 105.60

The market is in a consolidation phase locked between 105.80 and 106.44. Bears might continue with their attempts for a breach of 105.80, with first target being the support around 105.30. First major resistance for the bulls is at 106.30. The news, mentioned in the EUR/USD review, might energize the market to break the current range, however to change the overall bearish sentiment, prices would need to hold above 106.44.

Resistance Support
intraday intraweek intraday intraweek
105.78 106.30 105.60 105.30
106.02 106.48 105.30 104.70

GBP/USD

Current level – 1.2847

After the sell-off was limited at the support zone at 1.2770, the price bounced, heading for a test of the close resistance zone at 1.2920. At the time of writing, the currency pair is consolidating around the current level at 1.2847, but a new bullish attempt at 1.2920 is probable. Successful violation of the aforementioned level at 1.2920 could easily lead the Cable towards the next target at 1.3021, showing that market participants are turning positive. If sellers re-enter the market, a decline towards and a break through the support zone at 1.2770 will pave the way towards 1.2640 and 1.2520.

Resistance Support
intraday intraweek intraday intraweek
1.2920 1.3150 1.2770 1.2640
1.3050 1.3290 1.2640 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.

Featured Analysis

Learn Forex Trading