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Daily Technical Analysis

EUR/USD

Current level – 1.2109

The correction phase was limited by the support zone at 1.2082 and the bullish sentiment remains intact. The expectations are for the currency pair to head for another test of the critical resistance at 1.2174, which, if successful, would pave the way towards 1.2240. As long as EUR/USD keeps trading above the support zone at 1.2082, a deeper sell-off is very unlikely, but in case it occurs, it would be limited by the support at 1.1988.

Resistance Support
intraday intraweek intraday intraweek
1.2123 1.2240 1.2082 1.1925
1.2174 1.2340 1.1988 1.1889

USD/JPY

Current level – 104.12

The Greenback continues to depreciate against the yen and, at the time of writing, the pair is headed for a test of the support at 104.03, which, if successful, would be followed by a test of the main support at 103.72. In the positive direction, the closest resistance levels are 104.25 and 104.50. A possible breach of the second one could become a signal for a new bull run.

Resistance Support
intraday intraweek intraday intraweek
104.25 105.05 103.72 102.20
104.50 105.39 103.26 101.10

GBP/USD

Current level – 1.3364

The Cable’s drop was stopped by the support at 1.3291, which, together with potential positive news coming from the EU/UK Brexit talks and the start of the mass vaccination process in the UK, could boost the pair and set it up for an attack of the resistance at 1.3390, followed by another test of 1.3500. In the negative direction, the first support is the aforementioned level of 1.3291.

Resistance Support
intraday intraweek intraday intraweek
1.3390 1.3497 1.3291 1.3204
1.3483 1.3600 1.3204 1.3104

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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