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Daily Technical Analysis

Daily Technical Analysis


Current level – 1.1273

During the past week, the European single currency continued to shed from its value against the U.S. dollar. The bulls managed to limit the sell-off to slightly above the support level of 1.1263, but the current sentiment remains negative.. Only a successful breach of the resistance zone of 1.1365 could be a prerequisite for an additional appreciation of the euro and a test of the next significant level of 1.1459, all of which would signal that the downtrend might be over. This week, investors will focus on the new home sales (Monday; 15:00 GMT) and the initial jobless claims data for the U.S. (Wednesday; 13:30 GMT).

Resistance Support
intraday intraweek intraday intraweek
1.1300 1.1460 1.1260 1.1200
1.1365 1.1517 1.1200 1.1180


Current level – 114.13

The test of the support of 113.77 was unsuccessful as the dollar recovered some of its recent losses against the yen and, during the early hours of today`s trading, the pair is trading just below the resistance of 114.40. If the bears re-enter the market and manage to violate the mentioned support, the decline should continue towards the zone of 113.40. The first target for the bulls is the level of 114.40, followed by the resistance of 114.90.

Resistance Support
intraday intraweek intraday intraweek
114.41 115.50 113.77 113.40
114.92 117.00 113.40 112.75


Current level – 1.3435

The bulls couldn’t manage to breach the resistance at 1.3500 and the consolidation still continues in the interval between 1.3400 and 1.3500. The expectations for today’s trading session are for the pair to test the support at 1.3350. If this level is breached, then a downward movement towards the next support at 1.3300 would be the most probable scenario. At the time of writing, a short-lived bullish offensive towards 1.3500 before the sell-off continues still cannot be excluded.

Resistance Support
intraday intraweek intraday intraweek
1.3500 1.3600 1.3440 1.3350
1.3550 1.3690 1.3400 1.3200

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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