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Daily Technical Analysis

EUR/USD

Current level – 1.1838

With the appreciation of the euro, the currency pair managed to breach the important resistance at 1.1825, confirming the bullish sentiment. The rally was mainly driven by the optimistic mood surrounding the negotiations for additional fiscal stimulus which, if delivered, will lead to a further depreciation of the U.S. dollar. The next more significant resistance for the currency pair is found at the 1.1880 level.

Resistance Support
intraday intraweek intraday intraweek
1.1880 1.2000 1.1825 1.1745
1.1935 1.2100 1.1790 1.1700

USD/JPY

Current level – 105.36

The ongoing negotiations for additional fiscal stimulus by the U.S. government have led to a depreciation of the dollar across the board and USD/JPY is not an exception. At the time of writing, the currency pair is facing a test of the support zone at 105.31. A positive development on the negotiations front would be a sufficient factor to breach the mentioned support level and to continue the movement down to the main support area of 105.00.

Resistance Support
intraday intraweek intraday intraweek
105.51 106.02 105.30 104.40
105.77 107.20 105.00 103.00

GBP/USD

Current level – 1.2967

The currency pair continues to trade within the narrow range of 1.2890 – 1.3010 and, at the time of writing, the sentiment is rather positive, for a test of the upper limit of the mentioned range. A breach of any of the borders alone would not be a sufficient signal to determine the mood of investors. Instead, we can expect confirmation upon violation of the following levels:1.3065 in the positive direction and 1.2831 in the negative direction. As with the other currency pairs involving the USD, market participants will closely monitor the final day of negotiations on behalf of the U.S. government to receive additional fiscal stimulus.

Resistance Support
intraday intraweek intraday intraweek
1.3010 1.3100 1.2890 1.2770
1.3065 1.3146 1.2831 1.2700

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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