Sun, May 22, 2022 @ 22:52 GMT
HomeContributorsTechnical AnalysisDaily Technical Analysis

Daily Technical Analysis

EUR/USD

Current level – 1.1276

The currency pair continues to trade in the range between 1.1229 and 1.1366 and, since the start of the week, volatility has been rather low. The forecast is for the pair to continue trading in the mentioned range. At the time of writing, the EUR/USD is headed for a test of the resistance level of 1.1294, and a possible breach here could pave the way towards the upper border of the range at 1.1366. Today, increased activity can be expected around the release of the GDP data for the U.S. (13:30 GMT) and the consumer confidence data for the U.S. (15:00 GMT).

Resistance Support
intraday intraweek intraday intraweek
1.1294 1.1460 1.1230 1.1190
1.1360 1.1510 1.1230 1.1100

USD/JPY

Current level – 114.05

The Ninja managed to violate the resistance at 113.79 and, at the time of writing, is headed towards a test of 114.17 – a level that was tested unsuccessfully last week. In case the pair manages to breach 114.17 this time around, then it is expected to continue rising towards the next resistance zone at around 114.80. If the resistance at 114.17 withholds the bullish pressure, then the most likely scenario would be for the pair to shift back into the range between 113.39 – 113.79.

Resistance Support
intraday intraweek intraday intraweek
114.17 115.37 113.80 112.58
114.80 115.37 113.40 110.80

GBP/USD

Current level – 1.3255

The Cable bounced back after the unsuccessful test of 1.3184 and, at the time of writing, is headed towards the resistance level of 1.3282. A confirmed breach of this level would mean that the correction would deepen and that a test of 1.3359 would be the next move. In the negative direction, the major support level remains the level of 1.3184.

Resistance Support
intraday intraweek intraday intraweek
1.3282 1.3360 1.3180 1.3000
1.3360 1.3500 1.3100 1.2900

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.

Featured Analysis

Learn Forex Trading