Thu, May 26, 2022 @ 16:58 GMT
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Daily Technical Analysis


Current level – 1.1305

The European common currency gained some ground against the U.S. dollar and the pair tested the resistance at 1.1341. At the time of writing the analysis, the pair is consolidating above the mentioned zone and, If the breach is confirmed, then a rally towards the level at 1.1380 would be the most probable scenario. However, If the bears prevail, a new successful attack on the support level at 1.1294, followed by a breach of the next target at 1.1265, would pave the way for a test of the major support zone at 1.1236 and would lead to a change in the current expectations of the market participants. Today, volatility might pick up after the announcement of the initial jobless claims for the U.S. at 13:30 GMT.

Resistance Support
intraday intraweek intraday intraweek
1.1360 1.1460 1.1294 1.1235
1.1460 1.1500 1.1265 1.1190


Current level – 114.79

In recent days, the market has entered an uptrend, reaching the resistance at 114.90. Prices are now consolidating below this zone and the expectations are for a more substantial pullback, which should be limited by the support at around 114.43. As long as this bullish attitude is maintained, a breach of 114.90 can be expected, followed by a test of the high at around 115.44.

Resistance Support
intraday intraweek intraday intraweek
114.90 115.44 114.68 114.19
115.44 116.00 114.43 113.72


Current level – 1.3432

The sterling managed to overcome the last resistance at 1.3425 and now the market is gravitating around this area. The current breach forms two local support zones – one at 1.3390 and another at 1.3415. At the moment, the correction is extremely shallow, which suggests another strong upward impulse. In such a scenario, an attack on 1.3510 can be expected. It is possible that the activity will remain low in the few remaining days of the year and that the market could stay in the range between 1.3390 and 1.3454.

Resistance Support
intraday intraweek intraday intraweek
1.3454 1.3510 1.3415 1.3340
1.3510 1.3580 1.3390 1.3266

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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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