Sat, Oct 23, 2021 @ 11:54 GMT
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Daily Technical Analysis

EUR/USD

Current level – 1.1722

The dollar continues to appreciate against the common European currency and, at the time of writing, the currency pair is confirming the breach of the support level at 1.1731. If confirmed, the breach would increase the downtrend’s momentum, leading the pair towards a test of the next support levels at 1.1700 and at 1.1662. In the positive direction, the first resistance level for the pair is found at 1.1774. This week, investors will focus on the Federal Reserve interest rate decision (Wednesday; 18:00 GMT) and on the data for the initial jobless claims for the U.S. (Thursday; 12:30 GMT).

Resistance Support
intraday intraweek intraday intraweek
1.1774 1.1847 1.1700 1.1662
1.1800 1.1900 1.1662 1.1600

USD/JPY

Current level – 110.00

The Ninja has been trading in the narrow range between 109.58 and 110.20 for more than two weeks now and, at the time of writing, it is headed towards a test of the upper border of the range. A possible breach of this level would lead the bulls towards a test of the next resistance levels of 110.40 and 110.78. If the test at 110.20 fails, then we’ll most likely witness another couple of days of range-bound trading. A spike in volatility is expected during the announcement of the Bank of Japan interest rate decision (Wednesday; 02:30 GMT).

Resistance Support
intraday intraweek intraday intraweek
110.20 110.67 109.67 109.18
110.40 111.00 109.50 108.50

GBP/USD

Current level – 1.3721

The Ninja has been trading in the narrow range between 109.58 and 110.20 for more than two weeks now and, at the time of writing, it is headed towards a test of the upper border of the range. A possible breach of this level would lead the bulls towards a test of the next resistance levels of 110.40 and 110.78. If the test at 110.20 fails, then we’ll most likely witness another couple of days of range-bound trading. A spike in volatility is expected during the announcement of the Bank of Japan interest rate decision (Wednesday; 02:30 GMT).

Resistance Support
intraday intraweek intraday intraweek
1.3785 1.3890 1.3677 1.3677
1.3826 1.4000 1.3600 1.3600

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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