Tue, May 18, 2021 @ 12:03 GMT
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Daily Technical Analysis

EUR/USD

Current level – 1.1950

The currency pair is trading in a corrective phase after the bears successfully managed to limit the appreciation of the euro against the dollar down to the resistance of 1.1988. However, the sentiment is still positive, for another test of the mentioned level. In the downward direction, the main support is the level of 1.1918. The most important economic news for today, which could be of more serious interest to the market participants, is the data on the consumer price index for the euro area (09:00 GMT), the data on the trade balance for the euro area (09:00 GMT), as well as the data on the building permits for the U.S. (12:00 GMT).

Resistance Support
intraday intraweek intraday intraweek
1.1988 1.2180 1.1920 1.1800
1.2100 1.2340 1.1880 1.1746

USD/JPY

Current level – 108.85

At the beginning of today’s trading session, the currency pair managed to breach the resistance at 108.81, but this violation is yet to be confirmed. If the bullish sentiment strengthens, the most likely scenario will be a test and a violation of the resistance level of 109.29, followed by a move towards 109.68. In the downward direction, the main support lies at the level of 108.45. In the last trading session for this week, there is no expected economic news that could lead to increased volatility.

Resistance Support
intraday intraweek intraday intraweek
109.29 109.88 108.81 106.25
109.68 110.39 108.45 104.90

GBP/USD

Current level – 1.3753

The Cable has been trading around the level of 1.3766 and, in the last few trading sessions, it could not find a clear direction. After the pound lost some of its positions against the U.S. dollar at the beginning of today’s session, it is possible for us to witness a test of the support zone at 1.3728. This, in turn, would not necessarily result in bear predominance, but rather in a search for better entry levels on behalf of the buyers. In the upward direction, the main resistance lies at the level of 1.3834.

Resistance Support
intraday intraweek intraday intraweek
1.3834 1.3920 1.3728 1.3550
1.3920 1.4000 1.3667 1.3550

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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