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Daily Tecnical Analysis

EUR/USD

Current level – 1.1868

The upward move of the single European currency against the U.S. dollar since the end of last week was limited to the resistance level at 1.1907. The subsequent depreciation can be considered as a corrective move in order to find better levels for market entry. The forecast is rather positive – for another attack on the resistance level at 1.1907. The most important economic news scheduled for this week will happen near its end, when the non-farm payrolls change data for the U.S. will be announced (Friday; 12:30 GMT), as well as the data on the unemployment rate for the U.S. (Friday; 12:30 GMT).

Resistance Support
intraday intraweek intraday intraweek
1.1880 1.1970 1.1849 1.1759
1.1945 1.2070 1.1805 1.1700

USD/JPY

Current level – 109.66

The U.S. dollar continues to lose ground against the Japanese yen after the upward move from the end of last week was limited to just below the resistance level at 109.85. A successful breach of the support at 109.55 could boost the sell-off and pave the way for the currency pair towards a test of the next significant support zone at around 109.00. A consolidation of the range movement between 109.00 – 110.75, coming from the higher time frames, is also not excluded.

Resistance Support
intraday intraweek intraday intraweek
109.85 110.39 109.55 108.55
110.20 110.70 109.30 108.10

GBP/USD

Current level – 1.3892

The depreciation of the sterling against the U.S. dollar began during the last trading session of last week and, at the time of writing the analysis, the currency pair is facing a test of the support zone at 1.3884. The predictions that the bulls will be restrained by the resistance level at 1.3970 rang true and a breach of the current support zone at 1.3884 could boost the sell-off and send the currency pair towards a test of the next more significant support area at 1.3770.

Resistance Support
intraday intraweek intraday intraweek
1.3970 1.4060 1.3884 1.3771
1.4000 1.4115 1.3826 1.3630

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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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