Fri, Jun 24, 2022 @ 22:01 GMT
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Daily Technical Analysis


During the last trading session, the currency pair reported a growth after the bulls successfully limited the sell-off at the beginning of the day down to the support level at 1.0983. At the time of writing, the currency pair is just before a test at the 1.1044 resistance zone. A successful breach of the mentioned level could strengthen the positive sentiment – for an attack of the next significant resistance at 1.1126. There is no economic news planned for today that will affect the market participants.


Day after day, the dollar continues to gain ground against the Japanese yen and at the time of writing the analysis, the bulls are just before a test of the resistance zone at 121.70. It is possible to observe a corrective move aimed at the 119.96 support level, but from the larger time frames the sentiment remains positive, especially with a successful breakthrough of the mentioned resistance, which is also a key level for the bulls.


The last trading session was positive for the British pound against the US dollar after we observed a range move between 1.3099 – 1.3191 over the past few days. At the time of writing, the bulls managed to breach the resistance at 1.3269, and the next resistance would be the area around 1.3354. Today, the data on the consumer price index for the UK (07:00 GMT) could affect the volatility of the currency pair.


After the German index traded in the narrow range between 14062-14500 in the end of last week, in the early hours of today’s trading session the bulls managed to establish themselves on the market and managed to cross the barrier at the upper boundary of the range – a level that is also the main resistance for buyers. The breakthrough needs a confirmation, but sentiments are positive – for a test of the next resistance level at 14832.


The recovery of the U.S. blue-chip stock index continues, as the bulls managed to gain a foothold in the market and, in the early hours of today’s trading session, managed to breach the resistance at 34800. The sentiment for now is positive, as the most probable scenario for today is for a test of the next significant resistance around 35000. In the downward direction, the main support is the level at 34100.

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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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