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Daily Technical Analysis

EUR/USD

Current level – 1.1722

The euro continues to lose its value against the dollar and this trend was observed during yesterday’s trading session as well. The forecast is for the euro to continue to weaken against the greenback and for the pair to focus on a test of the important support at 1.1748. In case an upward movement is to develop, the first important resistance is expected to be the level of 1.1834. Today, investors will focus on the U.S. consumer confidence data (15:00 GMT).

Resistance Support
intraday intraweek intraday intraweek
1.1760 1.1887 1.1711 1.1670
1.1834 1.2000 1.1670 1.1600

USD/JPY

Current level – 110.63

After the currency pair managed to stay above the key level at 110.16, we are now witnessing a strong upward impulse and a test of the resistance at 110.60. If the bulls prevail and this resistance gets breached, then the USD/JPY should head toward the psychological level at 111.00. If the resistance lasts, a correction or even a reversal of the trend may be expected. The first important support can be found at 110.16.

Resistance Support
intraday intraweek intraday intraweek
110.60 111.00 110.16 109.20
111.00 111.70 109.80 108.80

GBP/USD

Current level – 1.3737

The forecasts for today’s trading session are for the sterling to continue its depreciation against the U.S. dollar. A breach of the support at 1.3671 is a highly possible scenario and could lead to a further decline towards the next support at 1.3580. The first important resistance is the level of 1.3800.

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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