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Daily Technical Analysis

EUR/USD

Current level – 1.1969

After the successful breach of the important resistance zone at 1.1920, the EUR continued to gain positions against the USD. A continuation of the rally and an attack of the high at around 1.2010 is the most probable scenario at the time of writing the analysis. If a retracement develops, it should be limited to the support at 1.1924. This week, the most important economic news that could have a significant impact on the currency pair, is the data on the consumer price index in the Eurozone (10:00 GMT), the ISM Manufacturing data for the U.S. (15:00 GMT) on Tuesday, as well as the Non-farm Payrolls change and the Unemployment rate in the U.S. (Friday; 13:30 GMT).

Resistance Support
intraday intraweek intraday intraweek
1.1980 1.2010 1.1924 1.1827
1.1980 1.2110 1.1892 1.1798

USD/JPY

Current level – 103.88

The bears remained in control and the USD/JPY declined, reaching the current level of around 103.86. A test of the close support zone at 103.72 is highly probable. A successful violation of this level will pave the way towards the next target at 103.20. A test of 104.18 is not out of the question if the bulls re-enter the market, but only a breach of the next target at 104.43 could lead to a change in the current market sentiment.

Resistance Support
intraday intraweek intraday intraweek
104.18 105.45 103.72 103.72
104.843 106.10 103.20 103.20

GBP/USD

Current level – 1.3334

Bears’ attempt to violate the support zone at 1.3302 was not successful and, at the time of writing, the pair is holding steady above the aforementioned level. If buyers gain enough momentum, their first target will be the important resistance zone at 1.3394. А breach of this level will confirm that the uptrend is still intact and signal that the rally will most probably continue towards the levels of around 1.3480. In the negative direction, violation of the support levels at 1.3302 and 1.3275 could lead to a deeper correction towards the zone at 1.3225.

Resistance Support
intraday intraweek intraday intraweek
1.3394 1.3560 1.3300 1.3170
1.3480 1.3600 1.3275 1.3110

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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