Wed, Jun 29, 2022 @ 01:06 GMT
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Daily Technical Analysis

EUR/USD

The bears still cannot gain enough momentum to violate the support zone at 1.0890 and the expectations for today’s trading session are for this level to limit the sell-offs and for the pair to enter a consolidation phase between the levels at 1.0890 and the resistance at 1.0946. A test of the aforementioned level of resistance could be considered a possible scenario before an eventual resumption of the downtrend takes place. Only a confirmed breach of the support at 1.0890 would pave the way for the pair towards the support at 1.0840. The current level seems to be a good entry point for the bulls, who could take advantage of a short-term correction targeting the resistance zones at 1.0946 and at 1.0983. Higher volatility can be expected at 11:30 GMT when the ECB meeting minutes regarding its monetary policy will be released, as well as at 12:30 GMT when the data regarding the initial jobless claims for the U.S. will also be published.

USD/JPY

The pair is still consolidating in the tight range between the levels of 123.27 and 124.20 and only a confirmed breach of either the upper or the lower border would define the market’s direction. However, the expectations remain positive – for a test of 124.20. A confirmed breach of this level would most likely lead to a test of the local high at 125.00. On the other hand, if the bears prevail and manage to violate the critical support at 123.27, then this should lead to a sell-off targeting the support at 122.38.

GBP/USD

The bears still cannot violate the critical support at 1.3050, and at the time of writing, the pair is hovering just above this level. The forecasts for today’s trading session are for this zone to remain unbreached and for the pair to head towards a test of the resistance at 1.3165. However, a possible breach of the support at 1.3057 would most probably lead to an impulsive downward movement and a test of the psychological level at 1.3000.

EUGERMANY40

The German index still cannot drop below the psychological level at 14000 and the forecasts are for a corrective move towards the resistance at 14300. A short consolidation in the range of 14100 –14300 seems to be the most likely scenario for today’s trading session. The market’s sentiment, however, remains negative – for a depreciation of the index and a test of the support zone at 13943, but only a confirmed breach of the level at 14100 could be considered a signal for a downward move towards the mentioned level. A spike in volatility can be expected at 11:30 GMT when the ECB meeting minutes regarding its monetary policy will be published.

US30

The sell-off was limited at the support zone, located at around 34343, and we witnessed a corrective move and a test of the resistance at 34584. The test of the resistance was unsuccessful, leading to the assumption that this was a corrective move and so the expectations for today’s trading sessions are for the bears to attack the support at 34343, where a successful breach would most likely lead to another downward movement towards the support level at 34217.

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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