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Daily Technical Analysis

EUR/USD

Current level – 1.1712

Throughout the past week sellers dominated the market and the pair closed in the red. The support at 1.1746 was broken and its violation was confirmed after the test of the level in question, which now acts as a resistance. At the time of writing, the market is near the support at 1.1700 and this level could be broken if there are signs of weak buyer presence and lack of new attempts to test 1.1746. First minor support for the pair is 1.1676 and, if the bearish pressure is strong, the potential target would be the low around 1.1615. Today, there is no major economic data coming out, however volatility could spike around the statements of FED Chairman Jerome Powell (12:00 GMT) and ECB President Christine Lagarde (12:45 GMT).

Resistance Support
intraday intraweek intraday intraweek
1.1746 1.1825 1.1746 1.1825
1.1790 1.1870 1.1790 1.1870

USD/JPY

Current level – 105.35

For USD/JPY the scenario for trend reversal is still valid as the resistance zone between 105.38 and 105.51 was tested and the breach is now confirmed. Bears are showing weakness around the first major support zone at 105.00. If sellers fail to take over 105.00 once again, a deeper pullback towards 105.51 and 105.77 can be expected.

Resistance Support
intraday intraweek intraday intraweek
105.50 106.00 105.00 104.40
105.80 107.20 104.40 104.00

GBP/USD

Current level – 1.2932

The Sterling also ended the week with losses against the Greenback, while the sell-offs were limited by the support at 1.2890. For the moment, the market doesn’t have a clear direction, however the fact that buyers were missing on the second attempt at 1.2890 is giving bears a slight edge. Any pullbacks should remain limited below the resistance at 1.2990. If 1.2890 is violated, the next important support is 1.2830.

Resistance Support
intraday intraweek intraday intraweek
1.2991 1.3100 1.2890 1.2770
1.3065 1.3146 1.2831 1.2700

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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