Sat, Mar 25, 2023 @ 21:11 GMT
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Daily Technical Analysis


Last week, the single European currency ended with strong bearish pressure. After the announcement of the non-farm payroll numbers on Friday, the bears managed to breach the key support at 1.0210. Their attempt to reach the next one at 1.0125, however, was limited. Today, the bears once again put pressure on the market, and at the time of writing, they managed to record a move of about 10 pips in their favour. If the bulls manage to recover their positions, then they will have to deal with the next resistance at 1.0269. It seems that this week will be calm in terms of macroeconomic news, with the only news that could potentially influence the currency pair being the U.S. consumer price index data on Wednesday at 12:30 GMT.


The dollar managed to assert itself even more strongly in the “land of the rising sun” at the end of last week. The bulls managed to overtake the resistance at 134.60 and are now headed for the next one at 135.72. If the bears manage to recover their lost positions, then they will have to deal with the support at 132.52 as well.


After the release of the non-farm payroll numbers last Friday, not even the pound was able to buck the dollar’s momentum. The bears broke through the support at 1.2100 and made an unsuccessful attempt to breach the next one at 1.2020. If the bulls manage to resist the pressure, then they would have to deal with the resistances at 1.2100 and at 1.2186, respectively.


The German index continues to trade in the narrow range between the levels of 13507 and 13720, however neither the bears, nor the bulls are currently managing to gain momentum. No macroeconomic news that would cause sharp changes in the index is expected during this week. If the bears manage to strengthen the sell-offs and break away from the range-bound trading, then they could test the next support at 13339.


In the last 10 days, the U.S. blue-chip index consolidated in a range between the levels of 32580 – 32910. During this period of consolidation, the bears made several attempts to breach the lower boundary of the range, but failed to hold onto their positions. If their third attempt is successful, then bearish investors could try to increase the sell-offs down to the psychological support of 32000.

DeltaStock Inc.
DeltaStock Inc.
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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