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

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

EUR/USD

Current level – 1.1087

The sentiment remains negative as the pair is expected to go for yet another test of the key support at 1.1068. A possible breakthrough at this level would pave the way towards the next key support at 1.0980. Higher volatility is expected around 12:45 GMT time when the ECB interest rate decision is to be announced and during Lagard’s press conference (13:30 GMT).

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 – 109.64

The currency pair managed to break the support zone around 109.60-109.65, but at the time of writing, the price is just below that level and the breakthrough is still to be confirmed. If the price stays below the aforementioned level, then the expectations would be for a prolonged correction phase and a test of the next support at 109.20. In the opposite direction, the first resistance lies at 110.20

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 – 1.3137

The pair continues its upward movement which started at the beginning of the week, and consequently breached above the resistance levels at 1.3080 and 1.3125. If the price holds above 1.3125, the bullish momentum would remain intact and a test of 1.3200 would be the most likely scenario. If the pair fails to hold above 1.3125, a retracement towards the support at 1.3060 could occur.

Resistance Support
intraday intraweek intraday intraweek
1.3125 1.3210 1.3060 1.2915
1.3210 1.3260 1.3000 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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