HomeContributorsTechnical AnalysisDaily Tecnical Analysis

Daily Tecnical Analysis

EUR/USD

Current level – 1.1742

The sell-off was limited to the support level at 1.1711 and the euro regained some of its recent losses against the dollar. During the early hours of today`s trading, the pair is trading at around the level of 1.1742 and, if the bulls continue to dominate, a test of the level at 1.1763 will be the most probable scenario. The expectations are for this level to put an end to the corrective phase and resume the sell-off. A violation of the support zone at 1.1711 would lead to new losses for the EUR/USD and would strengthen the negative expectations for the future path of the currency pair. However, if the level at 1.1763 gets breached, we could witness a rally towards 1.1829 and, subsequently, a change in the current sentiment. During today’s trading session, volatility could rise when the initial jobless claims for the U.S. are announced (12:30 GMT).

Resistance Support
intraday intraweek intraday intraweek
1.1766 1.1890 1.1711 1.1650
1.1829 1.1944 1.1650 1.1600

USD/JPY

Current level – 110.30

Yesterday, the bulls lost momentum and the pair did not manage to remain above the last resistance at 110.56. At the time of writing, the pair is testing the support zone at 110.30 and, if the breach is successful, it would easily deepen the sell-off and could lead the USD/JPY towards f the level of 109.75. The first target for the bulls is still the mentioned level at 110.56 and only a confirmed breach will signal a continuation of the rally and new gains for the dollar against the yen.

Resistance Support
intraday intraweek intraday intraweek
110.56 111.00 110.30 109.44
111.00 111.50 109.75 108.74

GBP/USD

Current level – 1.3865

The test of the support zone at 1.3827 was not successful and the bulls prevailed. The sterling gained ground against the greenback and the pairtested the close resistance zone at 1.3862. A confirmation of the breach could easily pave the way towards the next target at 1.3931, followed by the level of 1.3979. If the bears enter the market, a new attack of the level at 1.3827 would be the most probable scenario. А violation of the mentioned level will most likely lead to future losses for the Cable аnd would continue the sell-off towards the zone at 1.3776.

Resistance Support
intraday intraweek intraday intraweek
1.3930 1.3980 1.3827 1.3720
1.3980 1.4060 1.3776 1.3632

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.

Featured Analysis

Learn Forex Trading