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Daily Tecnical Analysis

EUR/USD

Current level – 1.2183

At the time of writing, the currency pair is still in a consolidation phase, remaining slightly above the support level at 1.2170. The mentioned zone is also the lower border of the formed range between 1.2170 – 1.2240. The expectations for today’s trading session are for the EUR/USD to remain in the mentioned range as, for now, neither the bulls nor the bears have managed to tip the scales. The most likely scenario for the pair is for the aforementioned support to repel the bears and for a follow-up test of the resistance zone at around 1.2240. During the last trading session for the week, there is no economic news and statements that would be expected to have a serious impact on the market.

Resistance Support
intraday intraweek intraday intraweek
1.2270 1.2340 1.2170 1.2126
1.2340 1.2400 1.2170 1.2065

USD/JPY

Current level – 109.84

The bears failed to deepen the sell-off of the U.S. dollar against the Japanese yen and the resistances at 109.21 and at 109.67 were easily overcome. The latter was made possible mainly due to the better-than-expected initial jobless claims data for the U.S. The bulls were limited under the resistance of the higher time frames at 109.93, and the most likely scenario is for a consolidation below the mentioned resistance zone, likely followed by a correction in the negative direction.

Resistance Support
intraday intraweek intraday intraweek
109.93 111.00 109.67 108.97
110.52 112.20 109.21 108.55

GBP/USD

Current level – 1.4182

The Cable continues its range move in the narrow channel between 1.4101 – 1.4208. The most probable scenario for the moment is for a depreciation of the pound against the U.S. dollar and a test of the lower border of the channel at 1.4101. On the other hand, in the event of a breach and a strengthening of the bullish sentiment above the resistance at 1.4208, it is possible that we will witness an attack of the next significant resistance from the higher time frames – the level of 1.4300.

Resistance Support
intraday intraweek intraday intraweek
1.4208 1.4270 1.4100 1.4035
1.4270 1.4350 1.4035 1.3920

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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