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Daily Technical Analysis


Current level – 1.1320

Yesterday, the bears could not gain enough momentum and the sell-off was limited to the support at 1.1259. The pair recovered some of its losses against the dollar and, during the early hours of today`s trading, the EUR/USD is holding just above the level at 1.1316. If the bears start selling more aggressively, a breach and a new test of the mentioned support at 1.1259 will be the most likely scenario, which would strengthen the negative expectations for the future path of the EUR/USD. If the bulls prevail, a successful breach of the resistance zone at 1.1372 would continue the recovery for the common european currency against the greenback towards the target at 1.1461.

Resistance Support
intraday intraweek intraday intraweek
1.1372 1.1460 1.1316 1.1207
1.1460 1.1580 1.1259 1.1180


Current level – 113.41

The attempt to violate the support zone at 112.75 was not successful and the Ninja continued its trading back in the zone between 113.04 and 113.79. If the bulls prevail, the expectations are for a test of the upper border, where a breach would easily pave the way towards the next target at 114.09. The first support is the zone at 113.04, but only a breach aimed towards the last level at 112.75 could lead to new losses and а future depreciation of the dollar against the yen.

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


Current level – 1.3310

The support zone at 1.3224 successfully withheld the bearish attack and, at the time of writing, the pair is trading just above the level at 1.3285. If the bulls take control, they could test the resistance zone at 1.3352, but only a successful breach of the next target at 1.3399 could lead to a change in the current sentiment of the market participants. Worse-than-expected data in the UK for its manufacturing PMI (today; 09:00 GMT) could help the bears take control and violate the level at 1.3285. If this turns out to be the case and the support at 1.3224 is breached as well, the depreciation of the pound against the dollar would most likely continue towards the levels from November 2020 at around 1.3130.

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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