Thu, Sep 23, 2021 @ 06:53 GMT
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Daily Tecnical Analysis


Current level – 1.1778

Yesterday, the greenback gained quite a bit of ground against the euro as a result of the unexpectedly high inflation readings in the U.S which fueled the speculation for a Fed rate hike. As a result, the currency pair managed to breach the support zone at 1.1807. The sell-off was limited to the level of 1.1773, but if the bearish attack continues and the mentioned zone is successfully breached, the result will most likely be a deeper sell-off towards the lows from March at around 1.1717. The first target for the bulls is the level of 1.1807, which is now acting as a resistance, but only breach of the next zone at 1.1891 will signal a change in the current sentiment of the market participants. The data for the U.S. producer price index will be released at 12:30 GMT and we could see sharp moves if it rises with more than what the market expects.

Resistance Support
intraday intraweek intraday intraweek
1.1807 1.1891 1.1750 1.1700
1.1844 1.1950 1.1717 1.1630


Current level – 110.49

The bulls remain in control and the USD/JPY successfully breached the resistance level at 110.40. At the time of writing the analysis, the most probable scenario is for the recovery to continue and for the pair to test the next target at 110.79. A breach of the zone at 111.03 would strengthen the positive expectations for the future path of the USD/JPY and would help the Ninja reach the local high at 111.61. If the bears prevail and the pair starts falling again, the major support can be found at the level of 110.08, followed by the lower zone at 109.53.

Resistance Support
intraday intraweek intraday intraweek
110.79 111.03 110.40 109.53
111.03 111.61 110.08 109.00


Current level – 1.3814

The bears prevailed and the Cable did not manage to remain above the support level of 1.3862. The mentioned level was violated as the dollar gained strength across the board thanks to the Fed rate hike speculations. During the early hours of today`s trading, the currency pair is hovering close to the support zone at 1.3795 and another test is highly probable. If the bears successfully violate it, the sell-off will most likely deepen towards the local low at 1.3752. If the bulls re-enter the market, they could head the pair towards a test of the level at 1.3862, but only a successful breach of 1.4000 would help strengthen the positive expectations for the future path of the GBP/USD.

Resistance Support
intraday intraweek intraday intraweek
1.3862 1.4000 1.3795 1.3750
1.3925 1.4118 1.3750 1.3610

DeltaStock Inc.
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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