Mon, Mar 01, 2021 @ 07:42 GMT
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Daily Technical Analysis


Current level – 1.2124

The negative decline after the unsuccessful attempt at violating the resistance zone at 1.2141 was limited around the zone at 1.2097. During the early hours of today’s trading, the bulls took control and a new test of the aforementioned zone at 1.2141 could be expected. А successful breach here would strengthen the positive expectations for the future path of the EUR/USD and could easily lead to a test of the next target at 1.2221. If bears re-enter the market, a violation of the support zone at 1.2097 could easily pave the way towards the lows at around 1.2062. Volatility could rise today when the European central bank Interest rate decision (12:45 GMT) and the data on the U.S. initial jobless claims (13:30 GMT) will both be announced.

Resistance Support
intraday intraweek intraday intraweek
1.2141 1.2270 1.2097 1.1950
1.2221 1.2309 1.2062 1.1915


Current level – 103.54

The USD lost some ground and, at the time of writing this analysis, the price is about to test the important support zone at 103.53. A successful breach for the bears here could deepen the pullback and easily lead to an attempt at violating the next target at 103.27. The first resistance for the bulls lies at the level of 103.89, but only a successful breach of the next target at 104.03 could change the current market sentiments.

Resistance Support
intraday intraweek intraday intraweek
103.89 104.28 103.53 103.01
104.03 104.58 103.27 102.69


Current level – 1.3668

The support zone at 1.3620 successfully held the negative correction. The price recovered and easily reached the current level of around 1.3668. The positive sentiments remain intact and a successful test of the resistance zone at 1.3700 is a probable scenario. This could easily lead to a rally and future gains for the GBP against the USD. If sellers manage to retake control, a breach of the support zone at 1.3620 could bring the trading session back into the range between 1.3532 and 1.3620.

Resistance Support
intraday intraweek intraday intraweek
1.3700 1.3860 1.3620 1.3440
1.3700 1.3980 1.3532 1.3315

DeltaStock Inc.
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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