Daily Technical Analysis
EUR/USD
Current level – 1.2115
The uptrend for EUR/USD continues as the pair reached values above 1.2100 in the late hours of yesterday’s trading session. The sentiment remains positive and the pair is expected to test the next resistance level at 1.2150, with a minor correction towards the first important support at 1.2012 remaining a possibility due to the fast rate at which the euro appreciated against the dollar. During today’s session, volatility could pick up at 13:30 GMT when the U.S. initial jobless claims data will be announced.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.2150 | 1.2240 | 1.2012 | 1.1827 |
| 1.2190 | 1.2240 | 1.1892 | 1.1798 |
USD/JPY
Current level – 104.45
During yesterday’s trading session, the pair managed to breach the resistance at 104.43 but, at the time of writing, it sits just above this level, which is now acting as a support. If the USD/JPY manages to stay above 104.43, this would signal a rise towards, and test of, 104.85. In case the support is violated, then the next targets would be 104.18 and 103.72.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 104.85 | 105.45 | 104.45 | 103.20 |
| 105.45 | 106.10 | 104.18 | 103.20 |
GBP/USD
Current level – 1.3368
Yesterday’s trading session was quite volatile for all GBP crosses, including for the GBP/USD, mostly due to the mixed signals coming from the Brexit talks between the EU and the UK. After moving sharply in both directions, at the end of the day the price returned to the 1.3302-1.3391 range. The expectations are for this increased volatility to continue and for the pair to test the upper border of the range at 1.3391 and, possibly, the local high of 1.3480 that was reached at the beginning of September.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.3391 | 1.3560 | 1.3302 | 1.3170 |
| 1.3480 | 1.3600 | 1.3275 | 1.3110 |
