Sun, May 22, 2022 @ 23:39 GMT
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Daily Technical Analysis


Current level – 1.1338

The bulls became more active during the last session and the pair recorded its third consecutive day of gains. The range between 1.1235 and 1.1366 has not been broken through yet, and the market mood remains neutral. The first breach of these zones could turn out to be fake, followed by an impulse in the opposite direction. The picture on the higher time frames remains negative, and in order to change this, the bulls would have to hold the zone at 1.1235 and successfully breach 1.1366. The first support for them is 1.1294, followed by the local area at around 1.1260. If an eventual breach of 1.1366 attracts strong bearish interest and prices fall towards 1.1290, then this pressure can be expected to continue towards 1.1190 and 1.1000 as well. Significant activity can be expected today around the announcement of the initial jobless claims for the United States at 13:30 GMT and the new home sales at 15:00 GMT. The low liquidity around the upcoming holidays may also contribute to the higher volatility.

Resistance Support
intraday intraweek intraday intraweek
1.1366 1.1460 1.1294 1.1190
1.1366 1.1500 1.1235 1.1100


Current level – 114.11

The pair failed to stay above the resistance at 114.19, and in the early hours of today, activity is rather low. It is possible that the bears will renew their pressure around the current levels in order to test the support at around 113.72. An analysis of the higher time frames has revealed that the upward trend is in a long pause and that the market mood is shifting towards its neutral state. If the bulls decide to return to the market, then the first area of ​​interest to them may be the lower zone at around 112.58.

Resistance Support
intraday intraweek intraday intraweek
114.19 115.37 113.72 112.58
114.80 115.37 113.38 110.80


Current level – 1.3345

The bulls once again attacked the resistance at 1.3360 and the expectations for further gains are growing stronger. It is possible for the market to correct yesterday’s movement by testing the area at around 1.3270. The formation of a shallow pullback or a narrow range below 1.3360 will be an early indicator of an impending breach and an attack on 1.3425, as well as on the next more significant resistance at around 1.3500. If the breach does not materialise, however, the market is likely to continue to trade without a clear direction between the 1.3180 support and the 1.3360 resistance.

Resistance Support
intraday intraweek intraday intraweek
1.3360 1.3425 1.3270 1.3180
1.3425 1.3500 1.3180 1.3100

DeltaStock Inc.
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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