Thu, Sep 23, 2021 @ 06:42 GMT
HomeContributorsTechnical AnalysisDaily Tecnical Analysis

Daily Tecnical Analysis


Current level – 1.1845

The Federal Reserve left the rates unchanged and, after a rather lack-lustre press conference which did not spark a lot of volatility, the bulls continued to prevail. The greenback lost some ground against the common european currency and, during the early hours of today`s trading, the pair is hovering under the resistance zone at 1.1849 as a direct result of the Fed signalling for a continuation of its dovish monetary policy. A Successful breach of the mentioned level could continue the rally and would easily pave the way for a test of the next target at 1.1879. If the bears enter the market, we could witness a move towards the first support at 1.1805 which, if violated, could deepen the sell-off towards the major support at 1.1759.

Resistance Support
intraday intraweek intraday intraweek
1.1849 1.1879 1.1800 1.1717
1.1879 1.1944 1.1760 1.1600


Current level – 109.69

The short-lived rally was limited to the resistance zone of 110.09 and the yen regained some of its positions against the dollar as a result of the Fed’s forward guidance and interest rate decision. The expectations are for a test of the support zone at 109.57 which, if successful, should lead to a move towards the local lows at around 109.30. This, in turn, could easily strengthen the negative expectations for the future path of the USD/JPY. The first target for the bulls is still the mentioned resistance level at 110.09, followed by the one at 110.30.

Resistance Support
intraday intraweek intraday intraweek
110.09 110.60 109.57 108.55
110.30 111.12 109.30 108.10


Current level – 1.3905

The recovery for the Cable continues and, during the yearly hours of today, the pair tested the major resistance level at 1.3900. A confirmation of the breach would easily lead to new gains for the sterling against the dollar and would head the GBP/USD towards the level at 1.3970. If the bulls lose momentum, the corrective phase should be limited to the first support level at 1.3800.

Resistance Support
intraday intraweek intraday intraweek
1.3970 1.4000 1.3857 1.3739
1.3970 1.4030 1.3800 1.3665

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.

Featured Analysis

Learn Forex Trading