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Daily Technical Analysis

EUR/USD

Current level – 1.2151

The breach of the support level at 1.2141 was not confirmed and the euro regained some ground, holding around the current level of 1.2151. Only a successful violation of the aforementioned support can pave the way towards the next target at 1.2080 and strengthen the short-term negative expectations for the future path of the EUR/USD. In the positive direction, the first resistance can be found at the level of 1.2226. If the bulls manage to successfully breach it, the pair will probably head towards a test of the next level at 1.2270.

Resistance Support
intraday intraweek intraday intraweek
1.2226 1.2309 1.2140 1.2060
1.2270 1.2340 1.2100 1.1950

USD/JPY

Current level – 103.74

The bullish momentum was not strong enough for a successful breach of the resistance zone at 104.36 and the bears prevailed. The drop was limited around the support zone at 103.76, but if the bearish pressure persists, a successful violation of the aforementioned zone is the most probable scenario. This could deepen the sell-off and lead the pair towards a test of the lower target at 103.49. If the bulls re-enter the market, their first target would be a new attack of the resistance zone at 104.03 which, if successfully violated, could pave the way towards the local highs at around 104.25.

Resistance Support
intraday intraweek intraday intraweek
104.03 104.25 103.49 103.01
104.25 104.58 103.27 102.69

GBP/USD

Current level – 1.3676

The positive sentiment is intact and, at the time of writing the analysis, the GBP/USD is trading just under the major resistance zone at 1.3700. An attempt for a violation of the aforementioned level is expected, but only a successful breach here could lead to new gains of the GBP against the USD and a strengthening of the positive expectations for the future path of the Cable. If the resistance zone holds, the decline should be limited around the support zone at 1.3560.

Resistance Support
intraday intraweek intraday intraweek
1.3700 1.3860 1.3620 1.3440
1.3800 1.3980 1.3560 1.3315

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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