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Daily Technical Analysis

EUR/USD

Current level – 1.2271

During the first trading session for the year, the currency pair tested the resistance zone at 1.2309 once again, after which a downward correction followed. The bulls managed to remain in control and, at the time of writing the analysis, the expectations are still positive – for another test of the mentioned resistance. The more important level for the bears is the support level at 1.2161. Today, the ISM manufacturing data, as well as the ISM prices paid data (17:00 EET), will be in the investors’ spotlight.

Resistance Support
intraday intraweek intraday intraweek
1.2270 1.2430 1.2206 1.2084
1.2309 1.2500 1.2161 1.1989

USD/JPY

Current level – 103.02

The control is still in the hands of the bears after the failed test of the resistance zone at 103.27. At the time of writing, the price movement is facing a test of the support zone at 103.01. If this level is overcome by the bears, the next more significant support will lie at the 101.00 level.

Resistance Support
intraday intraweek intraday intraweek
103.27 103.72 103.01 101.20
103.49 104.03 101.20 101.00

GBP/USD

Current level – 1.3583

After the rally from the last week of 2020, the Cable failed to confirm the breach of the resistance at 1.3668, which led to a sell-off and a test of the support zone at 1.3539. If the sell-off does not deepen, it can be considered to be a corrective phase. At the time of writing the analysis, the expectations for the future move of the GBP/USD are rather positive – for a new attack of the mentioned resistance at 1.3668.

Resistance Support
intraday intraweek intraday intraweek
1.3620 1.3770 1.3540 1.3497
1.3668 1.3800 1.3540 1.3446

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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