Sat, Dec 05, 2020 @ 00:19 GMT
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Daily Technical Analysis

EUR/USD

Current level – 1.1834

Buyers regained some ground during the trading session on Friday and the currency pair breached the resistance level of 1.1825. At the time of writing, the EUR/USD is trading above the aforementioned zone and a continuation of the positive move is a plausible scenario. А breach of 1.1880 will reinforce the positive expectations for the future path of the EUR/USD and likely lead to a test of the next target at 1.1902 and, possibly, the level of 1.1940. If bears prevail, the first support can be found at the level of 1.1825, followed by the lower target zone at 1.1791. The most important news for this week is the the U.S. data for New Home Sales (Monday; 15:00 GMT), Consumer Confidence (Tuesday; 15:00 GMT), Unemployment claims and GDP data (Thursday; 13:30 GMT), as well as the European Bank Interest Rate Decision (Thursday; 13:45 GMT).

Resistance Support
intraday intraweek intraday intraweek
1.1880 1.2000 1.1825 1.1745
1.1902 1.2100 1.1791 1.1700

USD/JPY

Current level – 104.82

The currency pair continues to trade in the range between 104.47 and 105.01. A breach of the upper border could strengthen the bullish case, but only a successful violation of the next target at 105.31 can lead to a change in the current market sentiment. If the bears re-enter the market and successfully breach the support zone at 104.47 – 104.32, the depreciation of the dollar against the yen will continue towards the level of 104.00.

Resistance Support
intraday intraweek intraday intraweek
105.01 105.51 104.50 104.40
105.36 105.77 104.30 103.00

GBP/USD

Current level – 1.3024

The currency pair continues to trade in the range between 104.47 and 105.01. A breach of the upper border could strengthen the bullish case, but only a successful violation of the next target at 105.31 can lead to a change in the current market sentiment. If the bears re-enter the market and successfully breach the support zone at 104.47 – 104.32, the depreciation of the dollar against the yen will continue towards the level of 104.00.

Resistance Support
intraday intraweek intraday intraweek
1.3065 1.3288 1.3010 1.2831
1.3146 1.3350 1.2891 1.2772

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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