Mon, Nov 29, 2021 @ 10:57 GMT
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Daily Technical Analysis

EUR/USD

Current level – 1.1591

The bulls did not manage to gain enough momentum to successfully breach the resistance zone of 1.1597 and, during the early hours of today`s trading session, the pair is trading just under the mentioned level. A new test of the level in question is a highly probable scenario and, if successful, the pair will most likely continue to recover and target the resistance level of 1.1639. However, if the bears regain control of the market and breach the support zone of 1.1528, the common European currency will most likely continue to lose ground against the greenback and move towards the levels of around 1.1400. During today’s session, volatility could spike when the data for the retail sales in the U.S. is announced (today; 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 – 113.85

The bulls did not manage to gain enough momentum to successfully breach the resistance zone of 1.1597 and, during the early hours of today`s trading session, the pair is trading just under the mentioned level. A new test of the level in question is a highly probable scenario and, if successful, the pair will most likely continue to recover and target the resistance level of 1.1639. However, if the bears regain control of the market and breach the support zone of 1.1528, the common European currency will most likely continue to lose ground against the greenback and move towards the levels of around 1.1400. During today’s session, volatility could spike when the data for the retail sales in the U.S. is announced (today; 12:30 GMT).

Resistance Support
intraday intraweek intraday intraweek
114.50 116.00 113.64 112.00
116.00 118.50 113.00 111.56

GBP/USD

Current level – 1.3678

Although the rise of the Cable was limited to the resistance zone of 1.3713, the positive sentiment remains intact. At the time of writing, the most probable scenario is for another test of the aforementioned level and a continuation of the appreciation of the pound against the U.S. dollar towards the resistance of 1.3750. If this does not happen, the first target for the bears is the level of 1.3640, a successful breach of which could easily bring trading back in the range between 1.3568 and 1.3640.

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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