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Daily Technical Analysis

EUR/USD

Current level – 1.1800

After the false breach of the resistance at 1.1829 the bulls did not gain enough momentum to send the pair towards the next resistance at 1.1893 and the EUR/USD retraced, reaching the support zone at 1.1800. A breach of the mentioned support could lead to a test of the support at 1.1771. If the bulls re-enter the market and successfully violate the resistance at 1.1829,, thus leading the pair for an attack of the resistance at 1.1893. During today’s trading session, investors’ attention will be focused on the data on the U.S. non-farm employment change (12:15 GMT) and the ISM manufacturing (14:00 GMT).

Resistance Support
intraday intraweek intraday intraweek
1.1830 1.1890 1.1800 1.1746
1.1890 1.1950 1.1770 1.1700

USD/JPY

Current level – 110.16

At the time of writing this analysis, the pair is testing the resistance at 110.18. If this level succumbs to the bullish pressure, this would end the consolidation phase and lead the pair towards the resistance at 110.52. If this resistance manages to hold off the bulls, the USD/JPY would most probably continue trading in the range between 109.48 and 110.18.

Resistance Support
intraday intraweek intraday intraweek
110.18 110.52 109.73 109.11
110.52 111.00 109.48 108.74

GBP/USD

Current level – 1.3732

The resistance at 1.3800 wasn’t breached and the pair will most probably test the support at 1.3723. In case the bears do not manage to violate this level, this would be a signal for an upward movement towards a test of the resistance at 1.3800 and if it is breached, this would give a chance to the bulls for an attack of the next resistance at 1.3880. However, if bears prevail, their first support would lie at the level of 1.3600. Volatility will most likely rise after the announcement of the manufacturing PMI at 08:30 GMT.

Resistance Support
intraday intraweek intraday intraweek
1.3765 1.3880 1.3723 1.3567
1.3800 1.3939 1.3600 1.3508

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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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