Fri, Aug 19, 2022 @ 15:05 GMT
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Daily Technical Analysis

EUR/USD

During yesterday’s trading session, the U.S. blue-chip index breached the support level of 36237 and the forecast is for the index to test the important support at 35899. A possible breach of this level would deepen the correction, pushing the index towards a test of the support zone of 35445. In case the support at 35899 manages to withhold the bearish pressure, then we may witness a further move towards 36532. Today, increased activity can be expected around the release of the U.S. retail sales data (13:30 GMT).

USD/JPY

During yesterday’s trading session the currency pair breached the support level of 114.28 and, at the time of writing, is headed towards a test at the next support at 113.75. A successful test at this level would deepen the decline, taking the pair towards the support zone at 113.30. In case the support level of 113.75 manages to withold the bearish pressure, then the most likely scenario would be for the pait to enter a consolidation phase in the range between 113.75 and 115.00.

GBP/USD

The uptrend of the sterling continues as the Cable breached the psychological level of 1.3700 and, at the time of writing, is consolidating just above this level. The forecast is for the pair to continue its uptrend towards the resistance level of 1.3760, once the consolidation phase is completed. In the negative direction, the first support lies at 1.3596.

EUGERMANY40

During yesterday’s trading session, the German index breached the support level of 15962 and the forecast is for the index to test the important support at 15835. In case the correction ends and the bulls take over the market, then it is possible that we could witness a test of the resistance level of 16080. In case the support at 15835 is violated and the sell-off deepens, then the next targets for the bears would be sitting at 15711 and at 15520, respectively.

US30

During yesterday’s trading session, the U.S. blue-chip index breached the support level of 36237 and the forecast is for the index to test the important support at 35899. A possible breach of this level would deepen the correction, pushing the index towards a test of the support zone of 35445. In case the support at 35899 manages to withhold the bearish pressure, then we may witness a further move towards 36532. Today, increased activity can be expected around the release of the U.S. retail sales data (13:30 GMT).

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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