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Daily Technical Analysis

Daily Technical Analysis

EUR/USD

Current level – 1.2115

The uptrend for EUR/USD continues as the pair reached values above 1.2100 in the late hours of yesterday’s trading session. The sentiment remains positive and the pair is expected to test the next resistance level at 1.2150, with a minor correction towards the first important support at 1.2012 remaining a possibility due to the fast rate at which the euro appreciated against the dollar. During today’s session, volatility could pick up at 13:30 GMT when the U.S. initial jobless claims data will be announced.

Resistance Support
intraday intraweek intraday intraweek
1.2150 1.2240 1.2012 1.1827
1.2190 1.2240 1.1892 1.1798

USD/JPY

Current level – 104.45

During yesterday’s trading session, the pair managed to breach the resistance at 104.43 but, at the time of writing, it sits just above this level, which is now acting as a support. If the USD/JPY manages to stay above 104.43, this would signal a rise towards, and test of, 104.85. In case the support is violated, then the next targets would be 104.18 and 103.72.

Resistance Support
intraday intraweek intraday intraweek
104.85 105.45 104.45 103.20
105.45 106.10 104.18 103.20

GBP/USD

Current level – 1.3368

Yesterday’s trading session was quite volatile for all GBP crosses, including for the GBP/USD, mostly due to the mixed signals coming from the Brexit talks between the EU and the UK. After moving sharply in both directions, at the end of the day the price returned to the 1.3302-1.3391 range. The expectations are for this increased volatility to continue and for the pair to test the upper border of the range at 1.3391 and, possibly, the local high of 1.3480 that was reached at the beginning of September.

Resistance Support
intraday intraweek intraday intraweek
1.3391 1.3560 1.3302 1.3170
1.3480 1.3600 1.3275 1.3110

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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