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Daily Tecnical Analysis

EUR/USD

Current level – 1.2123

At the time of writing the analysis, the situation remains unchanged from the previous session. The currency pair is facing an unfinished test of the support zone at 1.2106 and a confirmation of the breach would strengthen the negative sentiment and will most likely lead to a test of the next support zone at 1.2050. The main economic news that will be in focus for investors today will be the data on the trade balance for the euro area (09:00 GMT), as well as the data on the producer price index for the U.S. (12:30 GMT).

Resistance Support
intraday intraweek intraday intraweek
1.2170 1.2244 1.2106 1.2050
1.2207 1.2360 1.2050 1.2000

USD/JPY

Current level – 110.09

During the last trading session, the dollar managed to rise against the Japanese yen, successfully breaching the resistance at 109.75. At the time of writing, the pair is about to test the resistance zone at 110.20. If the bears manage to limit the upside move around the mentioned resistance, the most probable scenario is for a resumption of the range move in the narrow channel between 109.36 – 110.20.

Resistance Support
intraday intraweek intraday intraweek
110.18 111.00 109.74 109.06
110.18 112.20 109.36 108.56

GBP/USD

Current level – 1.4107

For a whole month, neither the bulls nor the bears have been able to prevail and outline a clearer direction as the Cable continues to be bound by the narrow range between 1.4101 – 1.4180.. Today, the data on the claimant count unemployment rate, as well as the data on the claimant count unemployment change for the UK, could affect the market participants and lead to a more serious rise in volatility.

Resistance Support
intraday intraweek intraday intraweek
1.4177 1.4240 1.4101 1.4000
1.4209 1.4400 1.4080 1.3890

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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