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Daily Technical Analysis

EUR/USD

Current level – 1.1769

The euro continues to lose its value against the dollar and this trend was observed during yesterday’s trading session as well. The forecast is for the euro to continue to weaken against the greenback and for the pair to focus on a test of the important support at 1.1748. In case an upward movement is to develop, the first important resistance is expected to be the level of 1.1834. Today, investors will focus on the U.S. consumer confidence data (15:00 GMT).

Resistance Support
intraday intraweek intraday intraweek
1.1835 1.1967 1.1750 1.1709
1.1905 1.2100 1.1750 1.1600

USD/JPY

Current level – 109.95

The currency pair continues its upward movement, but the forecasts are for an upcoming correction. A critical level that will determine the pair’s direction is the key resistance at 110.20. If it is breached, we can expect the upward movement to continue. If the resistance lasts, we will witness a correction or even a reversal of the trend. The first important support can be found at 109.20.

Resistance Support
intraday intraweek intraday intraweek
110.00 110.80 109.20 106.92
110.20 111.70 108.32 105.83

GBP/USD

Current level – 1.3776

The pound failed to breach the key resistance at 1.3856 during yesterday’s trading session and this signalled the end of the correction. Although today’s trading session started with an appreciation of the pound against the dollar, the forecasts are for it to be short-term and for the downward movement to then resume. The first important support is the level of 1.3671.

Resistance Support
intraday intraweek intraday intraweek
1.3797 1.3990 1.3670 1.3530
1.3856 1.4094 1.3580 1.3350

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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