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Daily Technical Analysis

EUR/USD

Current level – 1.1704

The currency pair managed to close yesterday’s trading session just below the important support level of 1.1708, but this still cannot be considered as а breach. However, the expectations are for a confirmed breach of the mentioned support, which will further reinforce the downward movement. An important resistance is the level of 1.1746. Today, investors’ attention will be focused on the data for the retail sales in the United States (13:30 GMT).

Resistance Support
intraday intraweek intraday intraweek
1.1790 1.1870 1.1676 1.1639
1.1840 1.1200 1.1676 1.1615

USD/JPY

Current level – 105.21

The forecast for USD/JPY is for an upward movement after the pair tested, but failed to breach, the important support at 105.01. A second test of this level is possible, but it is expected that this support will not be breached yet again, thus further strengthening the upward movement. The first important resistance is found at 105.51.

Resistance Support
intraday intraweek intraday intraweek
105.50 106.00 105.00 104.40
105.80 107.20 104.40 104.00

GBP/USD

Current level – 1.2894

Since the beginning of the month, the currency pair has been moving in a relatively narrow range (between 1.2850 – 1.3080), and is currently close to reaching the lower boundary of this range. A breach of any of the boundaries or their corresponding resistance and support levels at 1.3065 and at 1.2831 will determine the future movement of the pair. For now, the expectations are for a downward movement and a test of the support at 1.2831 which, if breached, would help the downward price move gain further momentum.

Resistance Support
intraday intraweek intraday intraweek
1.3065 1.3100 1.2831 1.2770
1.3100 1.3146 1.2831 1.2770

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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