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

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

EUR/USD

Current level – 1.1095

Although the currency pair was not able to test the important support level at 1.1068, the sentiment remains negative and a test of 1.1068 is expected. If it doesn’t hold, the negative momentum would increase and a test of the next major support level at 1.0980 would be on the map. On the positive side, reversing back above 1.1130 would help rule out the negative sentiment. Volatility should be expected today at 10:00 GMT when ZEW Economic Sentiment will be released.

Resistance Support
intraday intraweek intraday intraweek
1.1100 1.1170 1.1080 1.1030
1.1130 1.1200 1.1068 1.0980

USD/JPY

Current level – 109.97

After a brief correction the price managed to stay above the support level at 109.70, with expectations remaining on the positive side for a test of the next resistance at 110.60. In a downward direction, the first major support is at 109.70.

Resistance Support
intraday intraweek intraday intraweek
110.20 110.65 109.70 108.80
110.65 111.00 109.20 107.90

GBP/USD

Current level – 1.3006

After a quick test of the support zone at 1.2959, the price bounced back towards 1.3000 level. If the currency pair manages to hold above the 1.3000 zone, the expectations would be for a test of the resistance level at 1.3120. However, the current consolidation from the bigger time frames would be over once we see a movement above 1.3200 or levels below 1.2920. Today market participants will keep a close eye on the unemployment numbers in the UK as they might give them hints about the future policy of the Bank of England.

Resistance Support
intraday intraweek intraday intraweek
1.3060 1.3210 1.3000 1.2915
1.3125 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.

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