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Daily Technical Analysis

EUR/USD

Current level – 1.1751

The currency pair made an unsuccessful attempt to breach the support at 1.1746 during yesterday’s trading session and, at the time of writing, is headed for a second test of this support. The forecasts are for the EUR/USD to breach 1.1746 and to continue moving in a downward direction, with the aims of reaching its next target of 1.1708. The first important resistance lies at 1.1791. Today, investors’ attention will be focused on the European Central Bank Interest Rate Decision (12:45 GMT), the ECB Press conference (13:30 GMT) and the Initial jobless claims data for the USA (12:30 GMT).

Resistance Support
intraday intraweek intraday intraweek
1.1791 1.2000 1.1746 1.1708
1.1825 1.2100 1.1746 1.1676

USD/JPY

Current level – 104.36

The currency pair managed to breach the support at 104.32, but stayed below this level only for a few hours before it returned to the 104.30 – 105.00 range, where it traded for the last couple of days. A possible second breach of the lower border of the range, followed by the next support levels at 104.16 and 103.98, would draw a bearish picture, while a breach of the upper border would signal that the bulls are entering the market.

Resistance Support
intraday intraweek intraday intraweek
105.01 105.51 104.16 104.00
105.36 105.77 104.00 103.00

GBP/USD

Current level – 1.2994

The depreciation of the sterling against the dollar was limited by the lower border of the range (1.2990 – 1.3075) in which the pair traded since the beginning of the week. The expectations are for the pair to test and breach the upper border of the range and aim for the important resistance at 1.3144 after that. In the opposite direction, the first important support lies at 1.2890.

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

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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