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Daily Technical Analysis

EUR/USD

Current level – 1.2130

The currency pair failed to breach and stay above the key resistance of 1.2174, but it is expected that, once the consolidation in which the pair is currently found is over, the levels in question will be tested again and consequently breached. In the negative direction, the first important support is found at 1.2082. This week, investors’ attention will be drawn to the Fed Interest Rate Decision (Wednesday; 19:00 GMT) and the data on the Consumer Price Index for the Eurozone (Thursday; 10:00 GMT).

Resistance Support
intraday intraweek intraday intraweek
1.2137 1.2240 1.2082 1.1988
1.2174 1.2270 1.2082 1.1925

USD/JPY

Current level – 103.98

The small rally of the USD/JPY was limited around the resistance zone at 104.58, after which the dollar started depreciating again and tested the support level at 104.03. A confirmation of a breach here could lead to a deeper sell-off towards the important support zone at 103.72. A successful violation of the aforementioned level will strengthen the negative expectations for the future path of the Ninja. In the opposite direction, the first resistance zone for the bulls lies at the level of 104.25, but only a breach of the next target at 104.58 could lead to change in the current market sentiment.

Resistance Support
intraday intraweek intraday intraweek
104.03 104.58 103.72 102.20
104.25 105.05 103.26 101.10

GBP/USD

Current level – 1.3321

The currency pair continues to trade in the narrow range in which it has been sticking to for the past three weeks. Current forecasts are for a move towards the local low and important support of 103.26. If this level is breached and the pair manages to stay below it, momentum will build up in the negative direction. The first important resistance is located at 104.25. The Bank of Japan’s Interest Rate Decision is expected to be announced on Friday and is forecasted to drive up market volatility.

Resistance Support
intraday intraweek intraday intraweek
1.3390 1.3497 1.3291 1.3204
1.3438 1.3600 1.3204 1.3104

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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