Mon, Nov 29, 2021 @ 11:45 GMT
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Daily Technical Analysis

EUR/USD

Current level – 1.1590

The bears eased off their pressure and the pair managed to bounce away from the 1.1528 support. At the time of writing, the bulls are attacking the resistance of 1.1597. Until this area is breached, sellers will be dominating the market and the bears can also be expected to resume their pressure. In the event of renewed selling pressure, the area at 1.1528 should be breached and a potential target would be the support at around 1.1410. In an alternative scenario, in which the bulls overcome 1.1597, a rally towards 1.1640 or 1.1680 can be expected. After yesterday’s data on the consumer price index, investors grew wary that the Federal Reserve may raise interest rates earlier. In such a scenario, new rallies for the Greenback can be expected. Today, traders will expect the data on the producer price index and the number of initial jobless claims for the United States at 12:30 GMT

Resistance Support
intraday intraweek intraday intraweek
1.1597 1.1687 1.1530 1.1410
1.1640 1.1750 1.1470 1.1280

USD/JPY

Current level – 113.51

The Greenback rally paused below the resistance of 113.64. This area comes from the higher time frames and the market may need more time to breach the level. Expectations remain positive – for a continuation of the uptrend. It is possible for the market to enter a range, with the lower band being the support at 112.98 and the upper one being the level at around 113.80.

Resistance Support
intraday intraweek intraday intraweek
113.64 116.0 113.00 111.56
114.50 118.50 112.00 110.86

GBP/USD

Current level – 1.3657

The sterling managed to get out of the range and breached the resistance of 1.3640. If the breach is confirmed, an attack on the resistance at around 1.3713 can be expected. Sentiment remains positive – for a continuation of the recovery. If, however, the bears make another attempt at resuming the pressure, their push should be limited by the support at around 1.3570.

Resistance Support
intraday intraweek intraday intraweek
1.3710 1.3800 1.3640 1.3420
1.3760 1.3840 1.3570 1.3420

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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