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Daily Technical Analysis


Current level – 1.1300

On its first trading day, the pair retraced part of Friday’s rally. The bears tested the support at around 1.1260, where the bulls re-entered the market. The market sentiment is changing and so a deeper correction is likely. It is possible for the buyers to breach the resistance at 1.1316 and try to test the high at 1.1372. The first daily support is found at 1.1260, and if the zone holds, short-term rallies towards 1.1370 and 1.1460 are possible. The more significant support coming from the higher time frames is the zone of 1.1180 – 1.1200. The market is expected to find support within this area, but if it is breached, this would open the possibility for new declines that could potentially target 1.1000.

Resistance Support
intraday intraweek intraday intraweek
1.1316 1.1460 1.1260 1.1180
1.1372 1.1580 1.1207 1.1180


Current level – 113.64

The market retraced last week’s sell-offs and, for now, prices remain below the key resistance of 113.80. Deeper declines remain limited by the support at 113.04 and sentiment is rather mixed. A probable scenario for the pair is for trading to continue in the range between 112.75 and 114.90.

Resistance Support
intraday intraweek intraday intraweek
113.80 114.50 113.04 112.75
114.10 114.90 112.75 110.80


Current level – 1.3320

The strength of the bears seems to be waning and the bulls are likely to try to reverse the market. The buyers managed to disrupt the market structure at around 1.3352, and the formation of a bottom at 1.3285 confirmed their intentions. An upward move targeting 1.3490 is possible, while a breach of 1.3352 would confirm the change in market sentiment. The first daily support is 1.3285 and the first resistances are 1.3352 and 1.3400.

Resistance Support
intraday intraweek intraday intraweek
1.3350 1.3440 1.3285 1.3200
1.3400 1.3490 1.3285 1.3060

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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