Sat, Dec 04, 2021 @ 16:38 GMT
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Daily Technical Analysis


Current level – 1.1638

After the successful breach of the resistance at around 1.1623, there is a reversal of the trend in the currency pair. The sentiment remains positive – for continued growth and an attack of the resistance zone between 1.1668 and 1.1687. If this zone is successfully breached, the next target for the bulls would likely be the area at around 1.1750. The first daily support for the bulls is 1.1623, followed by the key level of 1.1582. Today, an increase in activity can be expected around the announcement of the consumer price index data for the euro area at 09:00 GMT.

Resistance Support
intraday intraweek intraday intraweek
1.1640 1.1750 1.1582 1.1410
1.1687 1.1800 1.1528 1.1280


Current level – 114.49

The uptrend here is strong and any corrective movements are being reduced to consolidations in the price movement. The pair managed to breach the resistance of 114.42 and it seems that the bulls are preparing for their next assault, with their goal possibly being 115.50. As long as the momentum of the trend is maintained, prices may even reach 118.60. The first support for the buyers is 114.42, followed by the already confirmed one at 113.70.

Resistance Support
intraday intraweek intraday intraweek
114.34 117.90 113.64 112.00
115.60 118.50 113.00 111.56


Current level – 1.3801

The sterling managed to reach the resistance of 1.3830. However, the strength of the bulls was not enough for a breach and the market entered a pullback phase. It is possible that a test of the support of 1.3762 will follow, but in the early hours of today, the pair holds steady above 1.3800. The 1.3830 level comes from the higher time frames, so the market may need more time to break through. If the zone is conquered, an attack of the next resistance at around 1.3890 can be expected. The key support for the current trend is 1.3720.

Resistance Support
intraday intraweek intraday intraweek
1.3762 1.3830 1.3713 1.3570
1.3830 1.3900 1.3666 1.3420

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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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