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

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

EUR/USD

Current level – 1.1136

The currency pair did not manage to break the important resistance and former support at 1.1138 and a new third test of that resistance is expected. If the pair manages to break this level, it should head towards the highest level for the past two months at 1.1178. If the test of 1.1138 is not successful, the common currency might lose some ground against the greenback and test the first important support at 1.1110, followed by 1.1064. There shouldn’t be any surprises in regards to ECB’s interest rate decision (12:45 UK time) but the forward guidance during Draghi’s last press conference (13:30 UK time) should cause some volatility.

Resistance Support
intraday intraweek intraday intraweek
1.1140 1.1240 1.1110 1.0960
1.1170 1.1270 1.1062 1.0880

USD/JPY

Current level – 108.58

The pair is in a consolidation between 108.14 and 108.89 and the support at 108.14 is expected to stop potential declines. If this support level does hold, the pair is expected to continue the uptrend and head for a test of the important resistance at 108.89.

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 – 1.2916

The pound did not manage to break the important psychological level and key resistance at 1.2980-1.3000 even though it is its third test of that level. After this failure, the currency pair is consolidating as it drops to 1.2840. The uncertainty around Brexit may cause a high volatility and send the pair to either side, but in a technical aspect, the key support at 1.2785 is expected to hold and the pair should head towards a new test and eventual break of 1.3000.

Resistance Support
intraday intraweek intraday intraweek
1.2990 1.3180 1.2890 1.2560
1.3000 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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