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Daily Tecnical Analysis

EUR/USD

Current level – 1.1922

During the last trading session, the single European currency managed to recover a bit of its recent losses against the U.S. dollar, but the upward move was limited by the resistance zone at 1.1925. This can be considered a short-term correction happening shortly before the bears are to re-enter the market. However, before the market sentiment turns negative, the resistance level at 1.1850 needs to be successfully breached. Only in this case can a continuation of the downward movement – towards the next support at 1.1760 – can be expected. In case the pair violates the resistance at 1.1925, the EUR/USD might gain just enough momentum to test the resistance at 1.2007. Before either of these scenarios materialises, the pair could form a range between 1.1850 – 1.1925. Today, investors’ attention will be focused on the data on the existing home sales for the U.S. (14:00 GMT) and Jerome Powell’s testimony scheduled for 18:00 GMT.

Resistance Support
intraday intraweek intraday intraweek
1.1925 1.2100 1.1850 1.1710
1.2007 1.2190 1.1760 1.1620

USD/JPY

Current level – 110.75

From the beginning of the week, the dollar rose against the yen and, in the first hours of today’s trading session, the resistance was tested at 110.80, which is a local high. The forecasts are for a short-term correction, after which the mentioned resistance at 110.80 should be breached and the upward movement will most likely continue. The first support is the level of 110.11.

Resistance Support
intraday intraweek intraday intraweek
110.80 111.70 110.11 109.37
111.70 112.60 109.81 108.56

GBP/USD

Current level – 1.3930

The situation with the currency pair is similar to that of EUR/USD and here, the dollar is expected to continue to lose value after its sharp upward movement caused by the decision of the Federal Reserve last week. A short-term correction is also possible, but it should be limited by the first support at 1.3892. An important resistance is the level of 1.4080.

Resistance Support
intraday intraweek intraday intraweek
1.3942 1.4080 1.3892 1.3660
1.3970 1.4115 1.3800 1.3660

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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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