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Daily Technical Analysis

EUR/USD

Current level – 1.1773

After the EUR/USD violated the important support level of 1.1835, the common European currency continues to lose ground against the dollar and, at the time of writing the analysis, the pair is headed for a test of the support at 1.1751. In case this support level is breached, then the sell-off would gain momentum and we would probably witness prices dip below 1.1700. If the support at 1.1751 manages to resist the sellers’ pressure, a corrective move could occur, taking the price back to a test of 1.1835. Today, investors’ attention will be drawn to the data on the Michigan Consumer Sentiment (14:00 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 – 109.23

The currency pair is headed for a test at the upper border of the 108.32-109.20 range, in which it has been trading for the last couple of days. A successful breach at 109.20 would signal a renewal of the uptrend and we could witness the pair rising above 110.00. Alternatively, a failed attempt at 109.20 would push the pair towards the lower border of the range at 108.32.

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

GBP/USD

Current level – 1.3743

The depreciation of the sterling against the dollar was stopped by the support level of 1.3671 and the pair entered a corrective phase, with its first target being 1.3797. If this resistance is violated, then the pair would test the next one at 1.3856. In the negative direction, the main support levels are located at 1.3671 and at 1.3640.

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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