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Daily Technical Analysis

EUR/USD

Current level – 1.2176

The single European currency lost ground against the U.S. dollar after the support levels at 1.2270 and 1.2206 were easily breached. The next level that is expected to be attacked by the bears is the area around 1.2160. This move can be considered as corrective and is carried out in order for the bulls to find better market entry levels. The main economic news for this week that would be of interest to investors is the data on industrial production for the eurozone (Wednesday; 10:00 GMT), the data on the core CPI for the U.S. (Wednesday; 13:30 GMT), as well as the data on retail sales for the U.S. (Friday; 13:30 GMT).

Resistance Support
intraday intraweek intraday intraweek
1.2206 1.2309 1.2160 1.1950
1.2270 1.2340 1.2060 1.1800

USD/JPY

Current level – 104.13

The U.S. dollar managed to gain quite a bit of momentum during the last trading session and this positive move is also present today. The bulls are about to attack the level of resistance at 104.25, where it is quite possible for them to be thwarted by the bears. This, in turn, could help the bears find better levels to enter the market around the mentioned level and push the movement in a negative direction once again in order to reach the support zone at around 102.70.

Resistance Support
intraday intraweek intraday intraweek
104.25 104.58 104.03 103.49
104.25 104.58 103.72 102.70

GBP/USD

Current level – 1.3505

The Cable managed to breach the support level at 1.3560 at the beginning of the trading session and left the narrow channel of 1.3560 – 1.3620. The next goal for the bears would be a test of the support level at 1.3440 as a successful breach here would encourage the bears to also attack the levels at around 1.3211. In the positive direction, the first significant resistance is the level of 1.3620.

Resistance Support
intraday intraweek intraday intraweek
1.3560 1.3700 1.3440 1.3211
1.3620 1.3800 1.3315 1.3211

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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