Daily Technical Analysis

EUR/USD

Current level – 1.1635

We witnessed another week of sales for the currency pair. At the time of writing, the movement is right at the border of the support level at 1.1633, and the breakthrough at this level cannot be considered for completed yet. The bulls managed to limit the depreciation of the euro against the dollar, which does not exclude a deeper sell-off as a possible scenario in the event of a dollar rally. This week, the most important economic news that can have a more significant impact on the markets is the data on the gross domestic product for the US (Wednesday 12:30 GMT), the unemployment rate for the Euro zone (Thursday 09:00 GMT), as well as the data on the US unemployment rate (Friday 12:30 GMT).

USD/JPY

Current level – 105.30

The appreciation of the US dollar against the Yen was limited to the 105.60 resistance, where the bears prevailed and pushed the price down to the first support at 105.30. A successful break at this level could pave the way for new sales and the next zone at 104.85. On the other hand, positive developments and successfully limiting the sales at current levels could push the price to another test of the first important resistance.

GBP/USD

Current level – 1.2763

The currency pair continues its range-bound movement in the narrow channel 1.2700 – 1.2770, which was formed at the start of the previous trading week. The appreciation of the dollar is currently preventing the pound from breaking through the upper limit of the mentioned range. With a positive scenario and a break at 1.2770, we may expect the bulls to take control and test the next resistance at 1.2860. The most important economic news that is in the investors’ focus , is the data on the change of Great Britain’s GDP (Wednesday 06:00 GMT).