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Daily Technical Analysis

EUR/USD

Current level – 1.1851

The euro started the week with new losses and sell-offs are currently limited by the support at around 1.1835, which is coming from the higher time frames. If the bulls decide to return to the market around this support, a significant pullback could be observed. The first resistance for the bulls is the area at around 1.1905, while a more significant one can be considered the level of 1.2053. Should the bears continue to apply pressure, the market may further decline towards the next support at around 1.1750.

Resistance Support
intraday intraweek intraday intraweek
1.1905 1.2140 1.1835 1.1600
1.2053 1.2236 1.1750 1.1600

USD/JPY

Current level – 109.20

The dollar continues its impressive rally against the yen and, at the present moment, the bears are nowhere to be seen. The rally has already violated several resistances without ever slowing down. Although the market seems overbought and stretched out, the impulse may continue towards the resistance at 109.65. Around this area, bears may show interest and price retracement may be observed. The lack of distinguished supports on the way up implies deep and aggressive pullbacks. Market volatility is expected to remain high.

Resistance Support
intraday intraweek intraday intraweek
109.20 111.70 108.44 105.83
110.80 111.70 106.92 105.04

GBP/USD

Current level – 1.3830

The sterling is also experiencing difficulties against the Greenback. Prices managed to find support at around 1.3800, but if this sell-off persists, the next zone between 1.3730 and 1.3640 might get tested. The main uptrend is not yet violated and the current declines might be seen as a pullback and an opportunity for the bulls to buy the dip. The first local resistance for the buyers is 1.3850, followed by the major one at 1.3900.

Resistance Support
intraday intraweek intraday intraweek
1.3850 1.4000 1.3800 1.3640
1.3900 1.4090 1.3730 1.3550

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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