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Daily Technical Analysis

EUR/USD

Current level – 1.2098

The currency pair failed to breach the resistance at 1.2141 and the dollar once again prevailed over the euro. The forecast is for the downward movement to continue and for the EUR/USD to test the first important support at 1.2058 which, if breached, will shift the focus on the critical support at 1.1950. The first important resistance is the mentioned level of 1.2141. Today, investors will focus on the data on the U.S. core PCE deflator (13:30 GMT), as well as on the preliminary U.S. consumer confidence data provided by the University of Michigan (15:00 GMT).

Resistance Support
intraday intraweek intraday intraweek
1.2141 1.2231 1.2058 1.1800
1.2180 1.2282 1.1950 1.1600

USD/JPY

Current level – 104.48

During yesterday’s trading session, the pair managed to breach the important resistance at 104.27, but failed to remain above this level for long and, at the end of the trading day, the USD/JPY once again fell below 104.27. In the beginning of today’s trading session, however, the pair once again moved up to test the resistance at 104.27 and, this time, the level was breached. The current expectations are for the upward movement to continue and for the pair to test the next important resistance at 104.58. The first important support is the mentioned level of 104.27.

Resistance Support
intraday intraweek intraday intraweek
104.58 105.50 104.27 103.50
105.00 106.00 104.04 103.00

GBP/USD

Current level – 1.3702

Today’s trading session started with a decline in the value of the pound against the dollar as the currency pair reached 1.3692. With that in mind, this decline can be considered as more of a corrective movement and the Cable is expected to recover and move towards the important resistance at 1.3731. The first important support is the level of 1.3688.

Resistance Support
intraday intraweek intraday intraweek
1.3731 1.3780 1.3688 1.3460
1.3731 1.3800 1.3542 1.3460

DeltaStock Inc.
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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