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Daily Technical Analysis


The common European currency lost quite a bit of ground against the dollar and the pair breached the zone at 1.0467. At the time of writing the analysis, the pair is trading just below the level at 1.0467. If the bearish attack continues, then a test of the major support at 1.0396 would be the most probable scenario. A violation of the mentioned level would easily deepen the sell-off towards the low at 1.0359 and would strengthen the negative expectations for the future path of the EUR/USD. If the bulls enter the market, then their first target would be the level at 1.0467, which is currently acting as resistance. Today, increased volatility can be expected around the announcement of the initial jobless claims data for the United States at 12:30 GMT.


The positive sentiment remained unchanged and the Ninja tested the resistance at 136.47. A successful confirmation of the breach here would easily lead to new gains for the dollar against the yen and could continue the rally towards the zone at 137.00. If the bullish momentum fades, then the bears could try to breach the support at 135.43. А success for them could deepen the decline and could pave the way for a test of the lower zone at 134.33.


Like all the other major currencies, the sterling lost some ground against the dollar and the pair breached the support zone at 1.2170. It is currently holding positions around the level at 1.2118, but if the sell-off continues, the expectations are for a test of the next target at 1.2038. A successful violation could easily deepen the decline and could strengthen the negative expectations for the future path of the Cable. If the buyers prevail instead, then their first target would be the zone at 1.2170, followed by the upper important resistance at 1.2321.


After the successful breach of the zone at 13126, the EUGERMANY40 continued to tumble, and during the early hours of today’s trading, the index is heading for a test of the lower support at 12948. A successful attack for the bears could easily extend the losses and could lead the price towards the lows at 12833. If the bulls manage to limit the sell-off above the mentioned zone at 12948, then they could attempt to violate the zone at 13126 as well. However, only a breach of the upper resistance at 13434 could lead to a change in the current sentiment of the market participants.


Neither the bears nor the bulls managed to prevail, and at the time of writing the analysis, the U.S. index is hovering around the support zone at 30931. A successful breach for the sellers could lead to future losses and could pave the way for a test of the next target at 30141, followed by the lower zone at 29748. Better-than-expected unemployment change data for the U.S. (today; 12:30 GMT) could encourage the buyers to re-enter the market. A successful attack on the resistance at 31345, followed by a breach of the next zone at 31707, could easily lead to a rally aimed towards 32259.

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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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