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Daily Tecnical Analysis

EUR/USD

Current level – 1.1738

The confirmation of the breach of the zone at 1.1708 helped the euro to continue to recover some of its recent losses against the dollar. During the early hours of today’s trading, the pair tested the resistance level at 1.1746, but only a violation of the next target at 1.1766, followed by a move above the level at 1.1800 could strengthen positive expectations for the future path of EUR/USD. If bears re-enter the market, we will most likely witness a move towards the support zone at 1.1708. A successful breach of the mentioned level would easily put an end to the positive move and pave the way for the EUR/USD to attack the important support zone at 1.1670.

Resistance Support
intraday intraweek intraday intraweek
1.1746 1.1800 1.1708 1.1600
1.1766 1.1830 1.1670 1.1530

USD/JPY

Current level – 109.70

During yesterday’s trading session bulls lost momentum and bears prevailed. The greenback depreciated against the yen and the pair consolidated under the support level at 109.73. At the time of writing, the currency pair continues to trade in the zone between 109.49 and 110.18 and only a successful breach of one of the borders could set a clear direction for the USD/JPY. If bears continue to prevail and violate the level at 110.18, the sell-off will most likely deepen towards the support zone at 109.12. The first target for the bulls is still the mentioned resistance at 110.18, followed by the local high at 110.52.

Resistance Support
intraday intraweek intraday intraweek
110.18 110.52 109.48 109.11
110.52 111.00 109.11 108.74

GBP/USD

Current level – 1.3711

The sterling gained some ground against the dollar and the pair is testing the resistance zone at 1.3723. A successful breach could lead to a more sustained recovery of the Cable and will most likely lead to a test of the next target at 1.3765, followed by the level at 1.3800. If bears re-enter the market and the resistance at 1.3723 is not breached, the pair will most likely head towards the support zone at 1.3599. If the aforementioned level is breached, the negative expectations for the GBP/USD will be strengthened and the Cable will most likely suffer more losses.

Resistance Support
intraday intraweek intraday intraweek
1.3723 1.3880 1.3600 1.3508
1.3765 1.3939 1.3567 1.3508

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.

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