HomeContributorsTechnical AnalysisForex Technical Analysis: EUR/USD, USD/JPY, GBP/USD

Forex Technical Analysis: EUR/USD, USD/JPY, GBP/USD

EUR/USD

Current level – 1.1152

The consolidation below the resistance zone at 1.1166 continues. A successful breakthrough at this level should increase positive momentum and lead the pair towards a test of the next resistance zone at 1.1240. In downward direction, the minor support is at 1.1140 and if broken, could draw a more bearish picture for a test of the next support zone around 1.1110 and then at 1.1060. The main factors behind price action should remain the news around Brexit, accompanied by the expected data on the European Central Bank interest rate decision this week.

Resistance Support
intraday intraweek intraday intraweek
1.1170 1.1240 1.1110 1.0960
1.1200 1.1270 1.1062 1.0880

USD/JPY

Current level – 108.65

The currency pair continues its upward move after overcoming the corrective phase from the past days. The main resistance is at 108.90, as a break in this zone could be the reason for a rise and a test of the next resistance around 109.50. In downward direction, the main support level is at 108.15.

Resistance Support
intraday intraweek intraday intraweek
108.90 109.00 108.15 107.40
109.20 109.30 107.80 107.00

GBP/USD

Current level – 1.2970

Positive outcome from Johnson’s efforts to fast-track the Brexit bill (volatility is expected around 19:00 UK time) should have a positive impact on the Cable should the bill passes. Expectations are for a break through the resistance level at 1.2990 and an attack on the next major resistance zone at 1.3180, followed by 1.3300 if the British PM is successful. The first major support level is at 1.2770.

Resistance Support
intraday intraweek intraday intraweek
1.2990 1.3180 1.2880 1.2560
1.3046 1.3300 1.2780 1.2400

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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