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Daily Technical Analysis

EUR/USD

Current level – 1.1809

The appreciation of the U.S. dollar against the single European currency continued during yesterday’s trading session and the key support at 1.1835 was breached, therefore a downward movement towards the support level at 1.1751 can be expected. In case the greenback loses momentum, it is possible for the pair to reverse its direction and test the resistance at 1.1835. Today, investors’ attention will be drawn to the data on the GDP and the initial jobless claims for the United States (12:30 GMT).

Resistance Support
intraday intraweek intraday intraweek
1.1835 1.1967 1.1750 1.1709
1.1905 1.2100 1.1750 1.1600

USD/JPY

Current level – 108.91

The consolidation in the range between 108.32-109.20 continues and there is still no clear indication for the future direction of the USD/JPY. Only a confirmed breach of the resistance level at 109.20 could signal for the continuation of the long-term uptrend. In the negative direction, a breach of the support at 108.32 could lead to a sell-off that could reverse the trend.

Resistance Support
intraday intraweek intraday intraweek
108.80 110.80 108.32 105.83
109.20 111.70 106.92 104.97

GBP/USD

Current level – 1.3682

At the time of writing this analysis, the currency pair is testing the support at 1.3670 and a breach of this level would confirm the downward movement of the GBP/USD. The most probable scenario for today is for the pair to enter a short correction before heading towards the next target at 1.3587.

Resistance Support
intraday intraweek intraday intraweek
1.3797 1.3990 1.3670 1.3530
1.3856 1.4094 1.3580 1.3350

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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