Daily Technical Analysis

EUR/USD

Current level – 1.1834

Buyers regained some ground during the trading session on Friday and the currency pair breached the resistance level of 1.1825. At the time of writing, the EUR/USD is trading above the aforementioned zone and a continuation of the positive move is a plausible scenario. А breach of 1.1880 will reinforce the positive expectations for the future path of the EUR/USD and likely lead to a test of the next target at 1.1902 and, possibly, the level of 1.1940. If bears prevail, the first support can be found at the level of 1.1825, followed by the lower target zone at 1.1791. The most important news for this week is the the U.S. data for New Home Sales (Monday; 15:00 GMT), Consumer Confidence (Tuesday; 15:00 GMT), Unemployment claims and GDP data (Thursday; 13:30 GMT), as well as the European Bank Interest Rate Decision (Thursday; 13:45 GMT).

USD/JPY

Current level – 104.82

The currency pair continues to trade in the range between 104.47 and 105.01. A breach of the upper border could strengthen the bullish case, but only a successful violation of the next target at 105.31 can lead to a change in the current market sentiment. If the bears re-enter the market and successfully breach the support zone at 104.47 – 104.32, the depreciation of the dollar against the yen will continue towards the level of 104.00.

GBP/USD

Current level – 1.3024

The currency pair continues to trade in the range between 104.47 and 105.01. A breach of the upper border could strengthen the bullish case, but only a successful violation of the next target at 105.31 can lead to a change in the current market sentiment. If the bears re-enter the market and successfully breach the support zone at 104.47 – 104.32, the depreciation of the dollar against the yen will continue towards the level of 104.00.