Sun, May 22, 2022 @ 22:49 GMT
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Daily Technical Analysis

EUR/USD

Current level – 1.1323

In the last couple of days, the currency pair has been trading in the range of 1.1294 – 1.1349 and neither the bulls nor the bears have so far managed to take control. A confirmed breach of either of the borders of the range would set the future direction for the EUR/USD. At the time of writing the analysis, the most likely scenario is for the pair to test the resistance level of 1.1349 and head towards the next resistance zone at 1.1460. An unsuccessful breach of the mentioned level would most likely lead to a price reduction towards the support zone at 1.1294. This, in turn, could strengthen the bearish mood and pave the way for the currency pair towards the next zone from the higher time frames at 1.1236.

Resistance Support
intraday intraweek intraday intraweek
1.1350 1.1460 1.1294 1.1235
1.1460 1.1500 1.1265 1.1190

USD/JPY

Current level – 115.03

The pair failed to violate the resistance at 115.18 and, in the early hours of today, activity is rather low. However, the positive sentiment for an appreciation of the U.S. dollar against the yen still remains. If the bulls manage to overcome the resistance zone at 115.18, then this would probably lead to an appreciation of the U.S. dollar and the next target for the bulls would be the resistance at 115.44. In the opposite direction, if the mentioned resistance crumbles to the bullish pressure, then the pair may head towards a test of the support at 114.89.

Resistance Support
intraday intraweek intraday intraweek
115.20 115.44 114.89 114.43
115.44 116.00 114.68 114.20

GBP/USD

Current level – 1.3500

Yesterday’s test of the resistance zone at 1.3500 was unsuccessful and, at the time of writing, the sterling is trying to violate this level. If it is successfully breached, then this would head the pair towards a test of the next resistance at 1.3580. If the pair stays below the mentioned level, then the most likely scenario would be for the Cable to head towards the support at 1.3454.

Resistance Support
intraday intraweek intraday intraweek
1.3500 1.3580 1.3454 1.3389
1.3580 1.3603 1.3415 1.3340

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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