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Daily Technical Analysis

EUR/USD

Current level – 1.1819

The common European currency’s appreciation against the Greenback, which we observed in the past couple of days, was halted yesterday by the resistance at 1.1920. At the time of writing, the currency pair is looking to reach the support around the 1.1800 zone. If the support at 1.1800 holds, then the bullish sentiment would be retained and the EUR/USD should attempt another test of 1.1920, possibly followed by a test of the local high at 1.2010. Volatility could pick up after the announcement of the German ZEW economic sentiment at 10:00 GMT.

Resistance Support
intraday intraweek intraday intraweek
1.1880 1.2010 1.1800 1.1700
1.1920 1.2010 1.1700 1.1626

USD/JPY

Current level – 104.96

During yesterday’s trading session, the yen suffered its greatest overnight loss against the dollar since March due to the increased risk appetite following the news that clinical trials of a vaccine had shown more than 90% effectiveness in preventing the spread of COVID-19. The currency pair managed to breach and stay above the important resistance of 104.87, briefly reaching levels above 105.00. The expectations are for the depreciation of the yen to continue and for the USD/JPY to test the resistance at 105.20. In the negative direction, the key support lies at 104.09.

Resistance Support
intraday intraweek intraday intraweek
105.20 104.68 104.87 101.15
105.70 104.87 104.10 101.15

GBP/USD

Current level – 1.3174

The currency pair managed to stay above the former key resistance at 1.3159 and the expectations are for an upward movement and a test of the next resistance at 1.3265. In case a retracement develops, it should be limited by the important support at 1.3060.

Resistance Support
intraday intraweek intraday intraweek
1.3180 1.3265 1.3062 1.2934
1.3180 1.3265 1.3000 1.2860

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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