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

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

EUR/USD

Current level – 1.1135

EUR/USD bounced back towards the support at 1.1130 after yesterday’s failed attempt to break the support at 1.1170. If 1.1130 holds, the expectations are for a test of the support at 1.1170 end eventually the next level at 1.1200 will remain intact. The next support level after 1.1130 lies at 1.1100. The inflation data for the Eurzozone (10:00 GMT) and the number of building permits in the US (13:30 GMT) might lead to an increase in volatility.

Resistance Support
intraday intraweek intraday intraweek
1.1170 1.1200 1.1100 1.1068
1.1200 1.1300 1.1100 1.1000

USD/JPY

Current level – 110.15

After more than a week’s rise in the dollar against the yen and the breakout of the key resistance at 109.68, the pair has been consolidating over the last three days, trading in a narrow range between 109.80 and 110.20. Breaking this range would also determine the direction of the future movement of the pair with expectations being rather positive until the support at 109.70 holds.

Resistance Support
intraday intraweek intraday intraweek
110.20 110.65 109.68 108.80
110.65 111.00 109.20 107.90

GBP/USD

Current level – 1.3065

The Cable continues to rise after it managed to break above the resistance at 1.3060. Expectations are for a test of the next resistance level at 1.3124 and good data for the UK retail sales (09:30 GMT) should help the GBP appreciate. In the negative direction, the first support level remains at 1.3002.

Resistance Support
intraday intraweek intraday intraweek
1.3125 1.3210 1.3000 1.2915
1.3210 1.3260 1.2950 1.2790

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.

Featured Analysis

Learn Forex Trading